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Fiscal Sustainability in the Presence of Systemic Banks : The Case of EU Countries

Bénassy-Quéré, Agnès - 2012

We provide a first attempt to include off-balance sheet, implicit insurance to SIFIs into a consistent assessment of fiscal sustainability, for 27 countries of the European Union. We first calculate tax gaps à la Blanchard (1990) and Blanchard et al. (1990). We then introduce two alternative...

Persistent link: https://www.econbiz.de/10013098648

The Impact of Market Regulations on Intra-European Real Exchange Rates

Bénassy-Quéré, Agnès - 2013

We study the contribution of market regulations in the dynamics of the real exchange rate within the European Union. Based on a model proposed by De Gregorio et al. (1994a), we show that both product market regulations in nontradable sectors and employment protection tend to inflate the real...

Persistent link: https://www.econbiz.de/10013087275

Current Account Imbalances and Structural Adjustment in the Euro Area : How to Rebalance Competitiveness

Zemanek, Holger - 2014

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

The EU Budget Dispute - A Blessing in Disguise?

Schneider, Ondrej - 2007

This paper analyses the European budget and the position of the ten new member states. We argue that the EU budget … that the current EU budget setting is, at best, neutral with respect to the EU-wide long-term growth potential and may … actually hamper growth in the majority of the EU countries if the distortionary nature of taxation is taken into account …

Persistent link: https://www.econbiz.de/10012776902

Voting in the European Union - Central Europe's Lost Voice

Schneider, Ondrej - 2008

EU's total population; and even though their economic output is much lower, it rises dynamically. New members' impact on … the EU policies has nevertheless been limited. This is due not only to the arcane voting rules within the EU, but also to … together and that their influence is thus fairly limited. We argue that as the EU seemingly lacks energy to implement further …

Persistent link: https://www.econbiz.de/10012768535

Labour Market Institutions and Their Effect on Labour Market Performance in the New EU Member Countries

Fialová, Kamila - 2008

early 2000's both in quot;oldquot; and quot;newquot; EU member states. We estimate effects of labour market institutions on …;oldquot; and quot;newquot; EU members …

Persistent link: https://www.econbiz.de/10012769662

Beyond Balassa and Samuelson : Real Convergence, Capital Flows, and Competitiveness in Greece

Belke, Ansgar Hubertus - 2015

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

Exports and Capacity Constraints : Evidence for Several Euro Area Countries

Belke, Ansgar Hubertus - 2015

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

Export Hysteresis, Capacity Constraints and Uncertainty : A Smooth-Transition Analysis for Euro Area Member Countries

Belke, Ansgar Hubertus - 2017

We argue that, under certain conditions described by a sunk cost hysteresis model, firms consider exports as a substitute for domestic demand. This is valid also on the macroeconomic level where the switch from the domestic market to the export market and vice versa takes place in a smooth...

Persistent link: https://www.econbiz.de/10012947452

Euro-Area Fiscal Stance : From Theory to Practical Implementation

Bénassy-Quéré, Agnès - 2016

Despite large automatic stabilizers, the performance of the Euro area as a whole in terms of fiscal stabilization is relatively poor. This report argues that a meaningful fiscal stance for the Euro area should rely on the current account as a complement to the output gap, and be coordinated only...

Persistent link: https://www.econbiz.de/10012982261