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Subsidizing National Champions : An Evolutionary Perspective
Aubert, Cecile - 2008
A national-champions-related industrial policy has become (again) en vogue among European politicians. Against this background, our work orders different types of national champions along the industry lifecycle. Different types of locally bound externalities appear along the lifecycle. In a...
Persistent link: https://www.econbiz.de/10012770493
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Does State Aid for Broadband Deployment in Rural Areas Close the Digital and Economic Divide?
Briglauer, Wolfgang - 2018
We evaluate the impact of a major European state aid programme for broadband deployment applied to rural areas in the German state of Bavaria in the years 2010 and 2011. Using matched difference-in-differences estimation strategies, we find that aided municipalities have – depending on...
Persistent link: https://www.econbiz.de/10012919054
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The impact of public guarantees on bank risk taking : evidence from a natural experiment
Gropp, Reint; Gruendl, Christian; Guettler, Andre - 2010
In 2001, government guarantees for savings banks in Germany were removed following a law suit. We use this natural experiment to examine the effect of government guarantees on bank risk taking, using a large data set of matched bank/borrower information. The results suggest that banks whose...
Persistent link: https://www.econbiz.de/10008746580
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The Employment Effects of Low-Wage Subsidies
Huttunen, Kristiina - 2010
Finnish payroll tax subsidy scheme, which is targeted at the employers of older, full-time, low-wage workers. The system …'s clear eligibility criteria open up an opportunity for a reliable estimation of the causal impacts of the subsidy, using a … difference-in-difference-in-differences approach. Our results indicate that the subsidy system had no effects on the employment …
Persistent link: https://www.econbiz.de/10013143569
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Deeper, wider and more competitive? : monetary integration, Eastern enlargement and competitiveness in the European Union
Ottaviano, Gianmarco I. P. (contributor);  … - 2007
What determines a country's ability to compete in international markets? What fosters the global competitiveness of its firms? And in the European context, have key elements of the EU strategy such as EMU and enlargement helped or hindered domestic firms' competitiveness in local and global...
Persistent link: https://www.econbiz.de/10003635984
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Economic growth and budgetary components : a panel assessment for the EU
Afonso, António (contributor);  … - 2008
In this paper we test whether a reallocation of government budget items can enhance long-term GDP growth in a set of European countries. We apply modern panel data techniques to the period 1970-2006, and we use three alternative dependent variables in a growth regression: economic growth, total...
Persistent link: https://www.econbiz.de/10003636014
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Government size, composition, volatility and economic growth
Afonso, António (contributor); Furceri, Davide (contributor) - 2008
This paper analyses the effects in terms of size and volatility of government revenue and spending on growth in OECD and EU countries. The results of the paper suggest that both variables are detrimental to growth. In particular, looking more closely at the effect of each component of government...
Persistent link: https://www.econbiz.de/10003636033
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Markups in the euro area and the US over the period 1981-2004 : a comparison of 50 sectors
Christopoulou, Rebekka (contributor);  … - 2008
This paper provides estimates of price-marginal cost ratios or markups for 50 sectors in 8 euro area countries and the US over the period 1981-2004. The estimates are obtained applying the methodology developed by Roeger (1995) on the EU KLEMS March 2007 database. Five stylized facts are...
Persistent link: https://www.econbiz.de/10003636104
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International transmission and monetary policy cooperation
Coenen, Günter; Lombardo, Giovanni; Smets, Frank; … - 2008
We use a version of the New Area-Wide Model (NAWM) developed at the ECB in order to quantify the gains from monetary policy cooperation. The model is calibrated in order to match a set of empirical moments. We then derive the cooperative and (open-loop) Nash monetary policies, assuming that the...
Persistent link: https://www.econbiz.de/10003636288
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Oil shocks and endogenous markups : results from an estimated euro area DSGE model
Sánchez, Marcelo (contributor) - 2008
This paper estimates a linearised DSGE model for the euro area. The model is New Keynesian and allows for a role for oil usage and endogenous price markups. We find that the price markup reacts positively to the ratio of expected discounted profits to current output, which is normally seen to...
Persistent link: https://www.econbiz.de/10003636306