Showing 1 - 10 of 33
This paper examines the impact of temperature changes on rural-urban migration using a 56km×56km grid cell level dataset covering the whole world at 10-year frequency during the period 1970-2000. We find that rising temperatures reduce rural-urban migration in poor countries and increase such...
Persistent link: https://www.econbiz.de/10012479679
, 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
This paper employs a stylized New Keynesian DSGE model for a monetary union to analyze whether cyclical inflation differentials can be explained by cross-country differences concerning the characteristics of financial markets. Our results suggest that empirically plausible degrees of...
Persistent link: https://www.econbiz.de/10013136243
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
This paper uses panel vector autoregressive models and simulations of an estimated DSGE model to explore the reaction of Euro–area banks to the global financial crisis. We focus on their interest–rate setting behavior in response to standard macroeconomic shocks. Our main empirical finding...
Persistent link: https://www.econbiz.de/10013089850
The creation of the euro and the European Central Bank is a remarkable and unprecedented event in economic and political history: creating a supranational central bank and leaving eleven countries without national currencies of their own. The experience of the first year confirms that one size...
Persistent link: https://www.econbiz.de/10012471257
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
; 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
We develop a stylized DSGE model in which banks face capital regulation and their loan portfolios are subject to non-diversifiable losses due to aggregate shocks. The framework is used to explore the importance of the interaction between macroeconomic conditions, credit default and bank...
Persistent link: https://www.econbiz.de/10012978077
This paper explores the potential effectiveness of the ECB's Outright Monetary Transaction (OMT) program in safeguarding an appropriate monetary policy transmission. Since the program aims at manipulating bank lending rates by conducting sovereign bond purchases on secondary markets, a stable...
Persistent link: https://www.econbiz.de/10013057668