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A Model of Market and Political Power Interactions for Southern Europe
Kollintzas, Tryphon; Papageorgiou, Dimitris; … - C.E.P.R. Discussion Papers - 2015
In recent years the growth pattern of most Southern European countries has been disturbed, as those countries are suffering from economic crises that go beyond the usual business cycle. In this paper, we develop a dynamic general equilibrium model of market and political power interactions that...
Persistent link: https://www.econbiz.de/10011145445
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A Neoclassical Growth Model for the Insiders – Outsiders Society
Kollintzas, Tryphon; Papageorgiou, Dimitris; … - C.E.P.R. Discussion Papers - 2013
The wage premium in the public sector, as measured by the ratio of the average wage rate in the public sector relative to the average wage rate in the private sector, varies considerably across developed economies. And, varies in some developed economies over large periods of time. Further, this...
Persistent link: https://www.econbiz.de/10011084192
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The Macroeconomic Costs and Benefits of the EMU and other Monetary Unions: An Overview of Recent Research
Beetsma, Roel; Giuliodori, Massimo - C.E.P.R. Discussion Papers - 2009
This article provides an overview of recent research into the macroeconomic costs and benefits of monetary unification. We are primarily interested in Europe’s monetary union. Given that unification entails the loss of a policy instrument its potential benefits have to be found elsewhere....
Persistent link: https://www.econbiz.de/10008477181
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Is the Euro Sustainable?
Wickens, Michael R. - C.E.P.R. Discussion Papers - 2007
It is widely recognised that the "one-size-fits-all" monetary policy of the euro-zone is a potential problem. How much … of a problem has not been much investigated. It is argued in this paper that it may result in the euro not being … competitiveness. A formal theory of inflation in the euro-zone based on an open-economy version of the New Keynesian model is used to …
Persistent link: https://www.econbiz.de/10005789110
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Post-War Growth of the Danish Economy
Pedersen, Peder J - C.E.P.R. Discussion Papers - 1994
Economic growth in Denmark in the post-war years has been close to the OECD average. The `golden age' of very high growth was, however, of shorter duration in Denmark than in most other OECD countries. The main emphasis in this paper is on the description of productivity performance in the...
Persistent link: https://www.econbiz.de/10005791818
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Euro Area Government Bonds—Integration and Fragmentation During the Sovereign Debt Crisis
Ehrmann, Michael; Fratzscher, Marcel - C.E.P.R. Discussion Papers - 2015
The paper analyzes the integration of euro area sovereign bond markets during the European sovereign debt crisis. It … identification. The paper finds that euro area government bond markets were well integrated prior to the crisis, but saw a …
Persistent link: https://www.econbiz.de/10011276387
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The Spanish Crisis: Background and Policy Challenges
Suarez, Javier - C.E.P.R. Discussion Papers - 2010
This paper reviews the background and key policy challenges of the current situation of the Spanish economy. It describes the strengths and weaknesses of Spain’s recent long growth cycle, the real and financial imbalances accumulated towards its end, and the troubles faced at the current...
Persistent link: https://www.econbiz.de/10008554220
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Whatever Happened to Ireland?
Kelly, Morgan - C.E.P.R. Discussion Papers - 2010
Abstract While Irish GNP quadrupled between 1990 and 2007, this Celtic Tiger growth came from two distinctive, sequential booms, with export driven growth during the 1990s being followed after 2000 by a credit fuelled construction boom. Bank lending rose from 60 per cent of GNP in 1997 to 200...
Persistent link: https://www.econbiz.de/10008468624
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Economic growth and the rise of political extremism: theory and evidence
Brückner, Markus; Grüner, Hans Peter - C.E.P.R. Discussion Papers - 2010
In many western democracies, political parties with extreme platforms challenge more moderate incumbents. This paper analyses the impact of economic growth on the support for extreme political platforms. We provide a theoretical argument in favor of growth effects (as opposed to level effects)...
Persistent link: https://www.econbiz.de/10008530375
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Some Lessons from Economic Transformation in East Germany
Bofinger, Peter; Cernohorsky, Ivan - C.E.P.R. Discussion Papers - 1992
The paper compares the experience with shock therapies in East Germany, Poland and the CSFR. After an analysis of the individual starting conditions and economic performance since the inception of comprehensive reform programmes it focuses on the specific elements of the East German reform...
Persistent link: https://www.econbiz.de/10005123780