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What do we really know about fiscal sustainability in the EU? : a panel data diagnostic

Afonso, António (contributor); … - 2008

Persistent link: https://www.econbiz.de/10003641707

Bootstrap panel Granger-causality between government budget and external deficits for the EU

Afonso, António; Rault, Christophe - 2009

period 1970-2007, for different EU and OECD country groupings. We use the panel-data approach of Kónya (2006), which is based … budget deficits to current account deficits for several EU countries: Bulgaria, Czech Republic, Estonia, Finland, France … deficit ; external imbalance ; real exchange rates ; EU ; OECD …

Persistent link: https://www.econbiz.de/10003818006

Short and long-run behaviour of long-term sovereign bond yields

Afonso, António - 2010

-term yields ; EU ; financial integration ; panel cointegration ; bootstrap …

Persistent link: https://www.econbiz.de/10008732265

What's in a second opinion? : shadowing the ECB and the Bank of England

Neuenkirch, Matthias; Siklos, Pierre L. - 2013

Persistent link: https://www.econbiz.de/10009788857

Who needs foreign banks?

Gros, Daniel - 2003

10 countries from Central and Eastern Europe (CEEC) that will join the EU in 2004/7 the banking system is now dominated …

Persistent link: https://www.econbiz.de/10011508110

3-Step analysis of public finances sustainability : the case of the European Union

Afonso, António (contributor); … - 2008

We use a 3-step analysis to assess the sustainability of public finances in the EU27. Firstly, we perform the SURADF … and revenues via SUR analysis. While results imply that public finances were not unsustainable for the EU panel, fiscal …. -- Fiscal sustainability ; EU ; panel cointegration …

Persistent link: https://www.econbiz.de/10003751092

Asymmetries in the trans-Atlantic monetary policy relationship : does the ECB follow the Fed?

Belke, Ansgar (contributor); Gros, Daniel (contributor) - 2005

The belief that the ECB follows the US Federal Reserve in setting its policy is so entrenched with market participants and commentators that the search for empirical support would seem to be a trivial task. However, this is not the case. We find that the ECB is indeed often influenced by the...

Persistent link: https://www.econbiz.de/10002749782

Fiscal sustainability, fiscal reactions, pitfalls and determinants

Afonso, António; Coelho, José Carlos - 2022

We examine the sustainability of public finances and its determinants for 19 Eurozone countries from 1995 to 2020. We conclude for the existence of panel cointegration between government revenues and expenditures; primary government balance and one-period lagged public debt-to-GDP ratio; and...

Persistent link: https://www.econbiz.de/10013162289

Unconventional monetary policy in the euro area : impacts on loans, employment, and investment

Afonso, António; Pereira, Francisco Gomes - 2022

Using a difference-in-differences identification strategy on a micro panel at the bank and firm level, we study the transmission effectiveness of ECB’s large-scale asset purchasing programs programs (i.e. APP and PEPP) in the Euro area. Our findings show: first, balance sheet composition of...

Persistent link: https://www.econbiz.de/10012888479

Twin deficits through the looking glass : time-varying analysis in the euro area

Afonso, António; Coelho, José Carlos - 2022

Using two measures of the fiscal position, the cyclically adjusted primary budget balance (CAPB) and the total budget balance, we assess the Twin Deficit Hypothesis for the Euro Area in the period 1995-2020. Furthermore, we estimate time-varying coefficients of the current account balance...

Persistent link: https://www.econbiz.de/10012813893