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The Positive Border Effect of EU Integration

Brakman, Steven - 2011

, regions, or countries. The enlargement of the EU or the introduction of the euro, however, can be looked upon as integration … that go along with EU integration along the border. Both at the urban and regional level, we find a beneficial influence of … the EU integration process as measured by the growth in population share along the integration borders, leading to an …

Persistent link: https://www.econbiz.de/10013130414

The ECB and the Interbank Market

Giannone, Domenico - 2012

We analyse the impact on the euro area economy of the ECB's non-standard monetary policy measures by studying the effect of the expansion of intermediation of interbank transactions across the central bank balance sheet. We exploit data drawn from the aggregated Monetary and Financial...

Persistent link: https://www.econbiz.de/10013097762

Reflections on Cluster Policies

Brakman, Steven - 2012

Economic activity tends to cluster. This results in productivity gains. For policy makers this offers an opportunity to formulate and promote policies that foster clustering of economic activity. Paradoxically, although agglomeration rents are often found in empirical research a rationale for...

Persistent link: https://www.econbiz.de/10013098963

Consequences of Brexit and Options for a 'Global Britain'

Brakman, Steven - 2017

; most studies predict a trade and welfare loss for both the UK and the EU. The UK parliament has indicated that it aims for … for the EU. After reviewing all potential options, we have a simple answer to the question whether the UK has an … alternative for the existing trade agreement with the EU. The answer is: No. Only a trade agreement with the EU can compensate for …

Persistent link: https://www.econbiz.de/10012955285

Mind the Gap : A Multi-Country BVAR Benchmark for the Eurosystem Projections

Angelini, Elena - 2019

The Eurosystem staff forecasts are conditional on the financial markets, the global economy and fiscal policy outlook, and include expert judgement. We develop a multi-country BVAR for the four largest countries of the euro area and we show that it provides accurate conditional forecasts of...

Persistent link: https://www.econbiz.de/10012893903

Money, Credit, Monetary Policy and the Business Cycle in the Euro Area : What Has Changed since the Crisis?

Giannone, Domenico - 2019

This paper studies the relationship between the business cycle and financial intermediation in the euro area. We establish stylized facts and study their stability during the global financial crisis and the European sovereign debt crisis. Long-term interest rates have been exceptionally high and...

Persistent link: https://www.econbiz.de/10012893985

Conditional Forecasts and Scenario Analysis with Vector Autoregressions for Large Cross-Sections

Banbura, Marta - 2014

This paper describes an algorithm to compute the distribution of conditional forecasts, i.e. projections of a set of variables of interest on future paths of some other variables, in dynamic systems. The algorithm is based on Kalman filtering methods and is computationally viable for large...

Persistent link: https://www.econbiz.de/10013047977

A Closer Look at Revealed Comparative Advantage : Gross-versus Value Added Trade Flows

Brakman, Steven - 2015

With the availability of international value added trade data it has become evident that gross export data and value added data do not provide the same information. Although gross exports crosses national borders and is the target of trade policy, value added data tell us what fragment in the...

Persistent link: https://www.econbiz.de/10013023177

The Crisis and Regional Resilience in Europe : On the Importance of Urbanization and Specialization

Brakman, Steven - 2015

Using a rich data set on the EU regions, we analyze the relevance of two possible determinants of a region's resilience … that started in 2008, as our shock and then analyze how the NUTS II EU regions differ in their resilience to the crisis in … terms of unemployment and real GDP per capita. In prior research it has been well established that (EU) regions differ in …

Persistent link: https://www.econbiz.de/10013033744

How Does Monetary Policy Affect Income and Wealth Inequality? Evidence from Quantitative Easing in the Euro Area

Lenza, Michele; Slacalek, Jiri - 2021

This paper studies the effects of quantitative easing on income and wealth of individual euro area households. The aggregate effects of quantitative easing are estimated in a multi-country VAR model of the four largest euro area countries, in which key variables affecting household income and...

Persistent link: https://www.econbiz.de/10013315393