Showing 1 - 10 of 443
This study offers a historical review of the monetary policy reform of October 6, 1979, and discusses the influences …) meetings during 1979. We then present and discuss in detail the reasons for the FOMC’s adoption of the reform and the … the reform were consistent with monetarism, new, neo, or old-fashioned Keynesianism, nominal income targeting, and …
Persistent link: https://www.econbiz.de/10005792211
This paper examines the relationship between fiscal policy and the current account, drawing on a larger country sample than in previous studies and using panel regressions, vector auto-regressions, and an analysis of large fiscal and external adjustments. On average, a strengthening in the...
Persistent link: https://www.econbiz.de/10008468562
This paper seeks to understand the interplay between banks, bank regulation, sovereign default risk and central bank guarantees in a monetary union. I assume that banks can use sovereign bonds for repurchase agreements with a common central bank, and that their sovereign partially backs up any...
Persistent link: https://www.econbiz.de/10011083498
In terms of macroeconomic performance, the Eurozone’s first decade is a story of successful inflation-targeting by the ECB for the common currency area as a whole combined with the persistence of real exchange rate and current account disequilibria at member country level. According to the...
Persistent link: https://www.econbiz.de/10011084267
different models of growth associated with different stages of reform. The speed with which individual countries progress …
Persistent link: https://www.econbiz.de/10005136785
Productivity growth in the United States was considerably faster during 2000-03 than in the boom years of 1995 …-2000. This ebullient productivity performance raises numerous questions about its interpretation and its implications for the … justified on the basis of data through the end of 1999 in their claim that part of the post-1995 productivity growth revival …
Persistent link: https://www.econbiz.de/10005123790
productivity effects of gross job flow rates before and after reforms. Job creation was low throughout the period in this sector … also increased significantly. Intra- and inter-sectoral job reallocation had no effect on aggregate labour productivity … the firms with the lowest productivity. …
Persistent link: https://www.econbiz.de/10005666804
We analyse productivity growth in UK manufacturing 1980-92 using the newly available ARD panel of establishments drawn … establishments enter and increase market share). We find that (a) 'external restructuring' accounts for 50% of labour productivity …
Persistent link: https://www.econbiz.de/10005666830
we use data on market sector productivity, R&D and non-R&D intangible assets, and public sector R&D spending. We look for … civil or defence R&D. Our findings tentatively suggest that for maximum market sector productivity impact government …
Persistent link: https://www.econbiz.de/10008468645
An extensive literature on the convergence of productivity between countries examines whether productivity is pulled … use the wide dispersion of productivity across firms to explore convergence to the national frontier. Given this within …
Persistent link: https://www.econbiz.de/10005123710