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Automatic Stabilizers and Economic Crisis : Us vs. Europe
Dolls, Mathias - 2010
income shock in the EU, compared to 32 per cent in the US. In the case of an unemployment shock 47 percent of the shock are … absorbed in the EU, compared to 34 per cent in the US. This cushioning of disposable income leads to a demand stabilization of … up to 30 per cent in the EU and up to 20 per cent in the US. There is large heterogeneity within the EU. Automatic …
Persistent link: https://www.econbiz.de/10013139144
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Cross-Country Causes and Consequences of the Crisis : An Update
Rose, Andrew Kenan - 2010
We update Rose and Spiegel (2009a, b) and search for simple quantitative models of macroeconomic and financial indicators of the "Great Recession" of 2008-09. We use a cross-country approach and examine a number of potential causes that have been found to be successful indicators of crisis...
Persistent link: https://www.econbiz.de/10013139743
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Some Inconvenient Truths About Climate Change Policy : The Distributional Impacts of Transportation Policies
Holland, Stephen P. - 2011
Instead of efficiently pricing greenhouse gases, policy makers have favored measures that implicitly or explicitly subsidize low carbon fuels. We simulate a transportation-sector cap & trade program (CAT) and three policies currently in use: ethanol subsidies, a renewable fuel standard (RFS),...
Persistent link: https://www.econbiz.de/10013120318
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What is a Sustainable Public Debt?
D'Erasmo, Pablo - 2015
The question of what is a sustainable public debt is paramount in the macroeconomic analysis of fiscal policy. This question is usually posed as asking whether the outstanding public debt and its projected path are consistent with those of the government's revenues and expenditures (i.e. whether...
Persistent link: https://www.econbiz.de/10013015096
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Currency Unions and Trade : A Post-Emu Mea Culpa
Glick, Reuven - 2015
In our European Economic Review (2002) paper, we used pre-1998 data on countries participating in and leaving currency unions to estimate the effect of currency unions on trade using (then-) conventional gravity models. In this paper, we use a variety of empirical gravity models to estimate the...
Persistent link: https://www.econbiz.de/10013015976
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Modernizing the European VAT
Cnossen, Sijbren - 2020
foster economic growth. The Member States of the European Union (EU) should be allowed to replace their defective VATs with a …
Persistent link: https://www.econbiz.de/10012834353
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Efficiency of European Universities : A Comparison of Peers
Herberholz, Lars - 2020
The European higher education landscape has become increasingly integrated causing competition among universities that is no longer bound to national borders. In view of this development, the present paper investigates the relative efficiency of 450 European universities between 2011 and 2014....
Persistent link: https://www.econbiz.de/10012842974
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A Long Term Perspective on the Euro
Bordo, Michael D. - 2008
This study grounds the establishment of EMU and the euro in the context of the history of international monetary cooperation and of monetary unions, above all in the U.S., Germany and Italy. The purpose of national monetary unions was to reduce transactions costs of multiple currencies and...
Persistent link: https://www.econbiz.de/10012772728
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Participation in a Currency Union
Casella, Alessandra - 2008
When countries of different sizes participate in a cooperative agreement, the potential gain from deviation determines the minimum power that each country requires in the common decision-making. lt;brgt;lt;bRgt;This paper studies the problem in the context of a monetary union - multiple...
Persistent link: https://www.econbiz.de/10012774523
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Monetary Policy and Performance in the U.S., Japan and Europe, 1973-86
Fischer, Stanley - 2007
Monetary policies in the U.S., Japan, Germany and the United Kingdom over the period 1973-1986 are compared and evaluated, with the aim of drawing lessons for monetary policy from the recent historical record. All four countries shifted during this period to money targeting, though with...
Persistent link: https://www.econbiz.de/10012777224