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Aggregate Wage Flexibility in Selected New EU Member States

Babetskii, Ian - 2013

disturbances. We apply classical time series/panel, Bayesian, and cointegration techniques to determine the extent to which …

Persistent link: https://www.econbiz.de/10012754005

Interest Rate Linkages in EMU Countries: A Rolling Threshold Vector Error-Correction Approach

Haan, Jakob de; Poghosyan, Tigran - CESifo - 2007

This paper revisits financial market integration in the European Economic and Monetary Union, using a threshold vector error-correction model (TVECM) for a fixed rolling window. This approach enables us to analyze the dynamics of transaction costs and detect any co-movements with (policy...

Persistent link: https://www.econbiz.de/10005406100

The Fragility of Two Monetary Regimes : The European Monetary System and the Eurozone

Ji, Yuemei - 2013

We analyze the similarities and the differences in the fragility of the European Monetary system (EMS) and the Eurozone. We test the hypothesis that in the EMS the fragility arose from the absence of a credible lender of last resort in the foreign exchange markets while in the Eurozone it was...

Persistent link: https://www.econbiz.de/10013072510

Inflation and Inflation Uncertainty in the Euro Area

Caporale, Guglielmo Maria - 2013

This paper estimates a time-varying AR-GARCH model of inflation producing measures of inflation uncertainty for the euro area, and investigates the linkages between them in a VAR framework, also allowing for the possible impact of the policy regime change associated with the start of EMU in...

Persistent link: https://www.econbiz.de/10013095747

Merchants of Doubt : Corporate Political Influence When Expert Credibility is Uncertain

Chiroleu-Assouline, Mireille - 2016

policymakers. However, recent evidence has emerged showing that industry-backed groups often attempt to undermine the credibility …

Persistent link: https://www.econbiz.de/10012977549

Tenancy Rent Control and Credible Commitment in Maintenance

Arnott, Richard J. - 2014

Under tenancy rent control, rents are regulated within a tenancy but not between tenancies. This paper investigates the effects of tenancy rent control on housing quality and maintenance. Since the discounted revenue received over a fixed-duration tenancy depends only on the starting rent,...

Persistent link: https://www.econbiz.de/10013058510

Credibility for Sale

Dellas, Harris - 2013

We develop a sovereign debt model with official and private creditors where default risk depends on both the level and the composition of liabilities. Higher exposure to official lenders improves incentives to repay but carries extra costs, such as reduced ex-post flexibility. The model implies...

Persistent link: https://www.econbiz.de/10013078524

How a Firm Can Induce Legislators to Adopt a Bad Policy

Dahm, Matthias; Dur, Robert; Glazer, Amihai - CESifo - 2012

This paper shows why a majority of legislators may vote for a policy that benefits a firm but harms all legislators. The firm may induce legislators to support the policy by suggesting that it is more likely to invest in a district whose voters or representative support the policy. In...

Persistent link: https://www.econbiz.de/10010544187

Does Membership in International Organizations Increase Governments' Credibility? Testing the Effects of Delegating Powers

Dreher, Axel - 2008

This paper analyzes whether nation-state governments can increase their credibility by becoming members of … international organizations. Credibility is an important asset because it determines the real interest rate and is expected to have … organizations can improve the credibility of nation-state governments. This hypothesis is tested by introducing three new indicators …

Persistent link: https://www.econbiz.de/10012772030

Credibility and Transparency of Central Banks: New Results Based on Ifo’s World Economicy Survey

Waller, Sandra; Haan, Jakob de - CESifo - 2004

This paper reports the results of a survey among private sector economists about credibility and transparency of … Survey to answer questions on the importance and determinants of credibility. The results of both surveys are very comparable …. Credibility is considered to be important to attain price stability at low cost, while the best ways to earn credibility are a …

Persistent link: https://www.econbiz.de/10005094291