Showing 1 - 10 of 12
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
Low international competitiveness of a set of euro area countries, which have become evident by large current account deficits and rising risk premiums on government bonds, is one of the most challenging economic policy issues for Europe. We analyse the role of private restructuring and public...
Persistent link: https://www.econbiz.de/10013071193
, 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
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
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
We scrutinize the role of capital flows for competitiveness in seven euro-area countries in the context of real convergence and crisis with a specific focus on Greece. The paper extends the seminal Balassa-Samuelson model to include international capital markets. Capital flows are assumed to be...
Persistent link: https://www.econbiz.de/10013012270
This paper estimates the effects of the EU enlargements in the 2000s for trade in parts and components and trade in … EU and OECD countries. The estimation approach accounts for firm heterogeneity and selection bias in a panel …-data framework. We find a positive and significant effect of the EU-accession on CEECs trade in intermediate and final goods. The …
Persistent link: https://www.econbiz.de/10013049209
In a major setback for the EU, only two of four Eastern Partnership countries actually initialed Association Agreements … the EU, the paper shows that the Eastern Partnership countries, including Ukraine, by far the largest in the group, gain … significantly from free trade agreements with the EU, but gain little if anything from free trade agreements with Russia …
Persistent link: https://www.econbiz.de/10013050477
We argue that, under certain conditions, firms consider exports as a substitute for domestic demand. Our econometric model for six euro area countries suggests domestic demand and capacity constraints as additional variables for export equations. We apply the exponential and logistic variant of...
Persistent link: https://www.econbiz.de/10013018214
Eastern Partnership attempted to further political stability and economic development by liberalizing trade between the EU and … establishing political democracy and human rights in key countries. In response, the EU increased the emphasis in the ENP on … among the countries of the region as well as between each such country and the EU. Using a panel gravity model of trade …
Persistent link: https://www.econbiz.de/10013315891