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Macroeconomic Effects of Unconventional Monetary Policy in the Euro Area
Peersman, Gert - 2013
I find that the Eurosystem can stimulate the economy beyond the policy rate by increasing the size of its balance sheet …
Persistent link: https://www.econbiz.de/10013092365
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Fiscal Policies and Business Cycles in an Enlarged Euro Area
Staehr, Karsten - 2008
This paper compares the cyclical properties of fiscal policies across the 12 original eurozone countries and the future … counter-cyclical in Central and Eastern European countries than in members of the eurozone. The main differences arise from … the revenue side. Differences in the formation of fiscal policy between current and future eurozone countries decrease …
Persistent link: https://www.econbiz.de/10012773620
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The European Central Bank's QE : A New Hope
Wieladek, Tomasz - 2016
We examine the impact of the ECB's QE on Euro Area real GDP and core CPI with a Bayesian VAR, estimated on monthly data from 2012M6 to 2016M4. We assess the total impact via a counter-factual exercise, country-by-country and through alternative transmission channels. QE announcement shocks are...
Persistent link: https://www.econbiz.de/10012986934
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Asset Allocation and Monetary Policy : Evidence from the Eurozone
Hau, Harald - 2014
The eurozone has a single short-term nominal interest rate, but monetary policy conditions measured by real short …
Persistent link: https://www.econbiz.de/10013045340
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The Effects of Monetary Policy on Unemployment Dynamics under Model Uncertainty - Evidence from the US and the Euro Area
Altavilla, Carlo - 2013
This paper explores the role that the imperfect knowledge of the structure of the economy plays in the uncertainty … the policymaker faces when setting the monetary policy and evaluating its effect on real economy. We find evidence of a …
Persistent link: https://www.econbiz.de/10012753184
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Loan Supply Shocks During the Financial Crisis : Evidence for the Euro Area
Hristov, Nikolay; Hülsewig, Oliver; Wollmershaeuser, Timo - 2021
banks during the slump of the real economy that followed the financial crisis. In particular, we seek to quantify the …
Persistent link: https://www.econbiz.de/10013316038
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Euro Effects on the Intensive and Extensive Margins of Trade
Flam, Harry; Nordström, Hakan - 2021
We estimate that the euro has increased trade within the eurozone by about 26 percent and trade between the eurozone …
Persistent link: https://www.econbiz.de/10013317266
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Emu Enlargement, Policy Uncertainty and Economic Reforms
Hefeker, Carsten - 2021
The paper analyzes the relation between monetary uncertainty and government incentives to implement economic reforms that reduce structural distortions and make economies more flexible. It is shown that uncertainty about the central bank's reaction function leads to more reforms. I relate this...
Persistent link: https://www.econbiz.de/10013317517
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Government Deficits in the European Union : An Analysis of Entry and Exit Dynamics
Bayar, Ali H. - 2009
The extent of government deficits and debt has been one of the most debated issues in recent years. However, much less has been contributed about their dynamics. Yet, the issue of entering into and exiting from excessive deficits is critical in the Economic and Monetary Union since the Stability...
Persistent link: https://www.econbiz.de/10013158139
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Economic, Political and Institutional Determinants of Budget Deficits in the European Union
Bayar, Ali H. - 2009
Using an extended data set of EU countries ranging from 1971-2006 and relevant econometric methods, we investigate the economic, political, and institutional determinants of government deficits in the EU. The results show a strong opportunistic behaviour of policymakers which leads to political...
Persistent link: https://www.econbiz.de/10012763989