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The Euro Changeover and Price Adjustments in Italy
Caporale, Guglielmo Maria - 2011
By estimating a staggered price model over the period 1980q1-2010q2, this paper documents that, after the euro changeover, Italian retailers have increased the number of price adjustments, which has translated into a higher inflation rate, with a detrimental effect on the competitiveness of the...
Persistent link: https://www.econbiz.de/10013128041
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Flexible Prices and Leverage
D'Acunto, Francesco - 2017
time, which we use in a difference-in-differences strategy. Firms' frequency of price adjustment did not change around the …
Persistent link: https://www.econbiz.de/10012962123
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Climate Change and Psychological Adaptation : A Behavioral Environmental Economics Approach
Aronsson, Thomas; Schöb, Ronnie - 2021
Economic models of climate policy (or policies to combat other environmental problems) typically neglect psychological adaptation to changing life circumstances. People may adapt or become more sensitive, to different degrees, to a deteriorated environment. The present paper addresses these...
Persistent link: https://www.econbiz.de/10013315603
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Nominal Exchange Rate Flexibility and Real Exchange Rate Adjustment : Evidence from Dual Exchange Rates in Developing Countries
Cheung, Yin-Wong; Lai, Kon S. - 2021
This study investigates whether greater nominal exchange rate flexibility aids real exchange rate adjustment based on … rate produces faster real exchange rate adjustment than the less flexible official rate does. Half-life estimates of … adjustment speeds are obtained from fractional time series analysis. We find no systematic evidence that greater exchange rate …
Persistent link: https://www.econbiz.de/10013318352
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Dissecting the PPP Puzzle : The Unconventional Roles of Nominal Exchange Rate and Price Adjustments
Cheung, Yin-Wong; Lai, Kon S.; Bergman, U. Michael - 2021
The conventional view, as expounded by sticky-price models, is that price adjustment determines the PPP reversion rate …. This study examines the mechanism by which PPP deviations are corrected. Nominal exchange rate adjustment, not price … adjustment, is shown to be the key engine governing the speed of PPP convergence. Moreover, nominal exchange rates are found to …
Persistent link: https://www.econbiz.de/10013319983
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The Information Content of KOF Indicators on Swiss Current Account Data Revisions
Jacobs, Jan P. A. M. - 2008
This paper analyses revisions of Swiss current account data, taking into account the actual data revision process and the implied types of revisions. In addition we investigate whether the first release of current account data can be improved upon by the use of survey results as gathered by the...
Persistent link: https://www.econbiz.de/10012770525
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Well-Being Inequality and Reference Groups - An Agenda for New Research
van Praag, B.M.S - 2021
It is argued that the concept of well–being inequality cannot be properly defined without taking the referencing process into account. The reference effect depends on how frequently individuals compare with others and on the degree of social transparency in society. In this paper we employ the...
Persistent link: https://www.econbiz.de/10013316230
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What Should Fiscal Councils Do?
Calmfors, Lars - 2011
The paper analyses theoretically what role fiscal councils could play and surveys empirically the activities of existing councils. Case studies of the Swedish Fiscal Policy Council and the UK Office for Budget Responsibility are done. It is concluded that fiscal councils should be advisory,...
Persistent link: https://www.econbiz.de/10013128042
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The Diversity of Debt Crises in Europe
Stein, Jerome L. - 2011
The foreign debts of the European countries are at the core of the current crises. Generally, the crises are attributed to government budget deficits in excess of the values stated in the Stability and Growth Pact (SGP)/Maastricht treaty. Proposals for reform generally involve increasing the...
Persistent link: https://www.econbiz.de/10013130015
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The Positive Border Effect of EU Integration
Brakman, Steven - 2011
Distance related variables typically vary in a cross-section dimension but less so in a time dimension across cities, regions, or countries. The enlargement of the EU or the introduction of the euro, however, can be looked upon as integration shocks that are informative of the consequences of...
Persistent link: https://www.econbiz.de/10013130414