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Fiscal divergence and current account imbalances in Europe
Schnabl, Gunther; Wollmershäuser, Timo - 2013
Since the breakdown of the Bretton Woods System diverging current account positions in Europe have prevailed. While the Southern and Western European countries have tended to run current account deficits, the current accounts of the Central and Northern European countries, in particular Germany,...
Persistent link: https://www.econbiz.de/10010291505
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Macroeconomic stabilization policies in the EMU : spillovers, asymmetries, and institutions
Di Bartolomeo, Giovanni; Engwerda, Jacob; Plasmans, Joseph - 2005
game approach of the endogenous coalition formation literature. The specific policy recommendations in the EMU context …
Persistent link: https://www.econbiz.de/10010261121
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Fiscal and monetary interaction : the role of asymmetries of the stability and growth pact in EMU
Governatori, Matteo; Eijffinger, Sylvester C. W. - 2004
policy, where the main features characterising the policy-making are similar to those in EMU. National governments choose the …
Persistent link: https://www.econbiz.de/10010272870
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Has the EMU reduced wage growth and unemployment? Testing a model of trade union behaviour
Mikosch, Heiner; Sturm, Jan-Egbert - 2011
(EMU) led to lower wage growth and lower unemployment in participating countries. Following Grüner's model, monetary …. Although we come up with some weak evidence for increased business cycle amplitudes within the EMU, we neither find a … significant general effect of the EMU on wage growth nor on unemployment. …
Persistent link: https://www.econbiz.de/10010274904
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What do we really know about fiscal sustainability in the EU?: a panel data diagnostic
Afonso, António; Rault, Christophe - 2008
We assess the sustainability of public finances in the EU15 using stationarity and cointegration analysis. Specifically, we use panel unit root tests of the first and second generation allowing in some cases for structural breaks. We also apply modern panel cointegration techniques developed by...
Persistent link: https://www.econbiz.de/10010264310
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Large-scale bond purchases in a currency union with segmentation in the market for government debt
Tischbirek, Andreas - In: Journal of economic dynamics & control 95 (2018), pp. 37-69
Persistent link: https://www.econbiz.de/10012004904
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Debt and stabilization policy : evidence from a Euro Area FAVAR
Jackson, Laura; Owyang, Michael T.; Zubairy, Sarah - In: Journal of economic dynamics & control 93 (2018), pp. 67-91
Persistent link: https://www.econbiz.de/10011974466
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Pushing the limit? : fiscal policy in the European Monetary Union
Daniel, Betty Carolyn; Shiamptanis, Christos - In: Journal of economic dynamics & control 37 (2013) 11, pp. 2307-2321
Persistent link: https://www.econbiz.de/10010196884
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The Effects of Monetary Policy Surprises and Fiscal Sustainability Regimes in the Euro Area
Afonso, António; Alves, José; Ionta, Serena - 2023
We study the effect of monetary surprise shocks on real output and the price level, conditioned on different fiscal sustainability regimes in the period 2001Q4-2021Q4. First, we estimate time-varying fiscal sustainability coefficients based on Bohn’s (1998) approach through Schlicht’s (2003)...
Persistent link: https://www.econbiz.de/10014346445
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The Euro Area Periphery Sovereigns' Fiscal Positions and Unconventional Monetary Policy
Hülsewig, Oliver - 2020
We explore the reaction of the euro area periphery sovereigns' fiscal positions to an unconventional monetary policy shock. We estimate panel vector autoregressive (VAR) models over the period 2010-2018, and identify the shock by imposing sign restrictions. Our results suggest that the...
Persistent link: https://www.econbiz.de/10012843420