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Reforming the financing of the European Union : a proposal

Fuest, Clemens; Heinemann, Friedrich; Ungerer, Martin - 2015

In this paper we propose a reform of the EU financing system. The two most important elements of our proposal are i) to … make the contribution of taxpayers to the EU budget more visible by showing an EU VAT share on receipts and ii) to increase … the power of the European Parliament in the determination of the structure of EU expenditures by limiting the multiannual …

Persistent link: https://www.econbiz.de/10010528261

FIRE for the euro : a strategy for stabilizing government bond markets

Heinemann, Friedrich - 2012

The aggravating turbulences in the market for euro government bonds have so far precluded any recovery from the debt crisis. The key problem is that structural reforms and consolidation measures have long impact lags and are not able to stop an acute self-fulfilling crisis of confidence. In the...

Persistent link: https://www.econbiz.de/10010497246

Short and Long-Run Behaviour of Long-Term Sovereign Bond Yields

Afonso, António - 2010

This study assesses the short and long-run behaviour of long-term sovereign bond yields in OECD countries, for the period 1973-2008. We employ a dynamic panel approach to reflect financial and economic integration, and to increase the performance and accuracy of the tests. Given the existence of...

Persistent link: https://www.econbiz.de/10013135912

Spend-and-Tax : A Panel Data Investigation for the EU

Afonso, António - 2009

, we study the causality between government spending and revenue for the EU in the period 1960-2006. We find spend … Finland and the UK, and for several EU New Member States. Moreover, in the run-up to EMU there was some shifting away from a …

Persistent link: https://www.econbiz.de/10013158140

Investigating First-Stage Exchange Rate Pass-Through : Sectoral and Macro Evidence from Euro Area Countries

Ben Cheikh, Nidhaleddine - 2017

In this paper, we evaluate the first-stage pass-through, namely the responsiveness of import prices to the exchange rate changes, for a sample of euro area (EA) countries. Our study aims to shed further light on the role of microeconomic factors vs. macroeconomic factors in influencing the...

Persistent link: https://www.econbiz.de/10012960112

On the Bilateral Trade Effects of Free Trade Agreements between the EU-15 and the CEEC-4 Countries

Caporale, Guglielmo Maria - 2008

Agreements (FTAs) on trade flows. In this paper we focus on FTAs (also called European agreements) between the European Union (EU … with the EU was signed exceeded trade growth of the control group of countries which did not become members …

Persistent link: https://www.econbiz.de/10012769922

3-Step Analysis of Public Finances Sustainability : The Case of the European Union

Afonso, António - 2008

We use a 3-step analysis to assess the sustainability of public finances in the EU27. Firstly, we perform the SURADF … and revenues via SUR analysis. While results imply that public finances were not unsustainable for the EU panel, fiscal …

Persistent link: https://www.econbiz.de/10012770443

The Pass-Through of Exchange Rate in the Context of the European Sovereign Debt Crisis

Ben Cheikh, Nidhaleddine - 2015

This paper investigates whether exchange rate pass-through (ERPT) into import prices is a nonlinear phenomenon for five heavily indebted Euro area countries, namely the so-called GIIPS group (Greece, Ireland, Italy, Portugal, and Spain). Using logistic smooth transition models, we explore the...

Persistent link: https://www.econbiz.de/10013012532

Recent Estimates of Exchange Rate Pass-Through to Import Prices in the Euro Area

Ben Cheikh, Nidhaleddine - 2015

This paper provides an update on the exchange rate pass-through (ERPT) estimates for 12 Euro area (EA) countries. First, based on quarterly data over the 1990-2012 period, our study does not find a significant heterogeneity in the degree of pass-through across the monetary union members, in...

Persistent link: https://www.econbiz.de/10013022505

Europe Agreements and Trade Balance : Evidence from Four New EU Members

Caporale, Guglielmo Maria; Rault, Christophe; Sova, Robert - 2021

This paper analyses the trade balance effects of Europe agreements (EA) between the EU-15 and four new EU members from …

Persistent link: https://www.econbiz.de/10013316072