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Arnorsson, Agust - 2016

apprehensive of the E.U., consider the enlargement of the E.U. as having gone too far, be suspicious of immigrants and not want …

Persistent link: https://www.econbiz.de/10012981337

Channel Systems : Why is There a Positive Spread?

Berentsen, Aleksander - 2010

An increasing number of central banks implement monetary policy via two standing facilities: a lending facility and a deposit facility. In this paper we show that it is socially optimal to implement a non-zero interest rate spread. We prove this result in a dynamic general equilibrium model...

Persistent link: https://www.econbiz.de/10013135781

Fiscal and Migration Competition

Razin, Asaf - 2010

both the host and the source countries. It models the host country stylistically as a core EU welfare state, with tax … financed benefits and migration policies, and the migration source country as an accession country (following the EU …

Persistent link: https://www.econbiz.de/10013142237

Technological Imitation and Innovation in New European Union Markets

Uzagalieva, Ainura - 2010

We analyze the role of imitation and innovation in promoting technological progress in new members of European Union: the Czech Republic, Hungary, Poland and Slovakia. The two modes of technological development - innovation and imitation - are distinguished from one another by identifying the...

Persistent link: https://www.econbiz.de/10013143835

Automatic Stabilizers and Economic Crisis : US vs. Europe

Dolls, Mathias - 2010

income shock in the EU, compared to 32 per cent in the US. In the case of an unemployment shock 48 per cent of the shock are … absorbed in the EU, compared to 34 per cent in the US. This cushioning of disposable income leads to a demand stabilization of … 26 to 35 per cent in the EU and 19 per cent in the US. There is large heterogeneity within the EU. Automatic stabilizers …

Persistent link: https://www.econbiz.de/10013149370

The Macroeconomic Policy Challenges of Balance Sheet Recession : Lessons from Japan for the European Crisis

Schnabl, Gunther - 2013

The paper compares the boom-and-bust cycles in Japan and Europe with respect to the reasons for excessive booms, the characteristics of the crises, and the (potential) effects of the crisis therapies. As in Japan the consequence of expansionary monetary and fiscal policies is the hysteresis of...

Persistent link: https://www.econbiz.de/10013081055

What Drives Target2 Balances? Evidence from a Panel Analysis

Auer, Raphael A. - 2013

What are the drivers of the large Target2 (T2) balances that have emerged in the European Monetary Union since the start of the financial crisis in 2007? This paper examines the extent to which the evolution of national T2 balances can be statistically associated with cross-border private...

Persistent link: https://www.econbiz.de/10013082613

The Interest Rate Pass-Through in the Euro Area During the Global Financial Crisis

Hristov, Nikolay - 2013

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

Euro Area SMEs Under Financial Constraints : Belief or Reality?

Artola, Concha - 2013

During the recent financial crisis, euro area firms, and especially Small and Medium-sized Enterprises, have been reporting acute problems of access to external finance. Using firm-level replies to the SME survey on access to finance, we use two indicators of financing constraints based on...

Persistent link: https://www.econbiz.de/10013092075

Financial Contagion and the European Debt Crisis

Missio, Sebastian - 2013

Since the beginning of 2010, the Euro Area faces a severe sovereign debt crisis, now generally known as the Euro Crisis. While the Euro Crisis has its origin in Greece, problems have now spread to several other European countries as well. Dynamic conditional correlation models (DCC) are...

Persistent link: https://www.econbiz.de/10013092476