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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

Regional Nonadjustment and Fiscal Policy : Lessons for EMU

Obstfeld, Maurice - 1999

be hard to resist the eventual extension of existing EU mechanisms of income redistribution--a transfer union. We propose … an alternative strategy based on a relaxed stability pact, further strictures against central EU borrowing, labor market …

Persistent link: https://www.econbiz.de/10012471641

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

‘Whatever It Takes’ to Resolve the European Sovereign Debt Crisis? Bond Pricing Regime Switches and Monetary Policy Effects

Afonso, António - 2017

This paper investigates the role of unconventional monetary policy as a source of time-variation in the relationship between sovereign bond yield spreads and their fundamental determinants. Our results provide evidence of a new bond-pricing regime following the announcement of the Outright...

Persistent link: https://www.econbiz.de/10012943161

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

What Do We Really Know About Fiscal Sustainability in the EU? A Panel Data Diagnostic

Afonso, António; Rault, Christophe - 2021

We assess the sustainability of public finances in the EU15 using stationarity and cointegration analysis. Specifically … revenues. While sustainability may be lacking in individual cases, fiscal policy was overall sustainable both for the EU15 …

Persistent link: https://www.econbiz.de/10013316576

Skill of the Immigrants and Vote of the Natives : Immigration and Nationalism in European Elections 2007-2016

Moriconi, Simone - 2018

coefficients show that immigration policies balancing the number of high-skilled and low-skilled immigrants from outside the EU …

Persistent link: https://www.econbiz.de/10012480728

Immigrants, Labor Market Dynamics and Adjustment to Shocks in the Euro Area

Basso, Gaetano - 2018

We analyze the role of labor mobility in cushioning labor demand shocks in the Euro Area. We find that foreign born workers' mobility is strongly cyclical, while this is not the case for natives. Foreigners' higher population to employment elasticity reduces the variation of overall employment...

Persistent link: https://www.econbiz.de/10012480742

The Effect of Income and Immigration Policies on International Migration

Ortega, Francesc - 2012

elasticity is twice as high for within-EU migration, reflecting the higher degree of labor mobility within the European Union. We …

Persistent link: https://www.econbiz.de/10012460341

Immigration, Jobs and Employment Protection : Evidence from Europe

D'Amuri, Francesco - 2011

In this paper we analyze the effect of immigrants on native jobs in fourteen Western European countries. We test whether the inflow of immigrants in the period 1996-2007 decreased employment rates and/or if it altered the occupational distribution of natives with similar education and age. We...

Persistent link: https://www.econbiz.de/10012461519