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Doerr, Luisa; Potrafke, Niklas; Roesel, Felix - 2021

We examine how populist governments influence political culture and economic outcomes. Some Austrian communities are governed by far-right populist mayors, directly elected by a majority of voters. We exploit close elections and find that the electorate becomes more polarized under populist...

Persistent link: https://www.econbiz.de/10012658042

The Renaissance of Ordoliberalism in the 1970s and 1980s

Krieger, Tim; Nientiedt, Daniel - 2023

The economic tradition of ordoliberalism, understood as the theoretical and policy ideas of the Freiburg School, emerged in 1930s and 1940s Germany. In the years thereafter, it was quickly superseded by Keynesianism and other theories imported from the English-speaking world. The crisis in...

Persistent link: https://www.econbiz.de/10014377491

Priority Roads : The Political Economy of Africa's Interior-to-Coast Roads

Bonfatti, Roberto - 2019

Africa’s interior-to-coast roads are well suited to export natural resources, but not to support regional trade. Are they the optimal response to geography and comparative advantage, or the result of suboptimal political distortions? We investigate the political determinants of road paving in...

Persistent link: https://www.econbiz.de/10012892107

The Macroeconomic Policy Challenges of Balance Sheet Recession: Lessons from Japan for the European Crisis

Schnabl, Gunther - 2013

The paper compares the boom-and-bust cycles in Japan and Europe with respect to the reasons for excessive booms, the characteristics of the crises, and the (potential) effects of the crisis therapies. As in Japan the consequence of expansionary monetary and fiscal policies is the hysteresis of...

Persistent link: https://www.econbiz.de/10010312865

Italy in the Eurozone

Keuschnigg, Christian; Kirschner, Linda; Kogler, Michael; … - 2020

Using a DSGE model with nominal wage rigidity, we investigate two scenarios for the Italian economy. The first considers sustained policy commitment to reform. The results indicate the possibility of ‘growing out of bad initial conditions’, if fiscal consolidation is combined with a program...

Persistent link: https://www.econbiz.de/10012269486

Has the euro affected the choice of invoicing currency?

Ligthart, Jenny E.; Werner, Sebastian E. V. - 2010

We present a new approach to study empirically the effect of the introduction of the euro on currency invoicing. Our … home currency invoicing after the introduction of the euro. In addition, the euro as a vehicle currency has overtaken the … role of the US dollar in Norwegian imports. The econometric analysis shows a significant effect of euro introduction above …

Persistent link: https://www.econbiz.de/10010275698

Private Debt and GDP: A Short-Run Perspective

Cafiso, Gianluca - 2016

Mainstream economic research regards private debt as a determinant of GDP growth in the longrun. Levine (2005) surveys in details this branch of literature and explains the channels by which debt fuels growth. In this paper we switch the focus from the long to the short-run and study whether...

Persistent link: https://www.econbiz.de/10011584900

European Identity and Redistributive Preferences

Costa-i-Font, Joan; Cowell, Frank - 2015

suggest that joining the euro has a boosting effect on European identity; an opposite and comparable effect is found for …

Persistent link: https://www.econbiz.de/10011307078

Unraveling the fortunes of the fortunate: an Iterative Bayesian Model Averaging (IBMA) approach

Eicher, Theo S.; Papageorgiou, Chris; Roehn, Oliver - 2007

We investigate country heterogeneity in cross-country growth regressions. In contrast to the previous literature that focuses on low-income countries, this study also highlights growth determinants in high-income (OECD) countries. We introduce Iterative Bayesian Model Averaging (IBMA) to address...

Persistent link: https://www.econbiz.de/10010264062

Real convergence, price level convergence and inflation differentials in Europe

Égert, Balázs - 2007

important drivers of inflation rates in an enlarged Europe. House prices matter to some extent in the euro area, whereas the …

Persistent link: https://www.econbiz.de/10010264234

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