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The Determinants of Economic Growth in European Regions

Cuaresma, Jesús Crespo - 2009

We use Bayesian Model Averaging (BMA) to evaluate the robustness of determinants of economic growth in a new dataset of 255 European regions in the 1995-2005 period. We use three different specifications based on (1) the cross-section of regions, (2) the cross-section of regions with country...

Persistent link: https://www.econbiz.de/10012765299

The Great Divergence : A Network Approach

Lindner, Ines - 2016

knowledge throughout the world explains a period of increasing world inequality after the take-off of the forerunners of the … industrial revolution, followed by decreasing relative inequality. Knowledge diffusion through a Small World network explains the … individual countries in the course of world development …

Persistent link: https://www.econbiz.de/10013001168

Discounting, Inequalities and Economic Convergence

Gollier, Christian - 2013

The aim of this paper is to examine the impact of inequalities and economic convergence on the efficient discount rate, in the absence of any risk-sharing scheme. We consider an economy in which the initial consumption level and the distribution of consumption growth are heterogeneous. The...

Persistent link: https://www.econbiz.de/10013094078

Transportation Costs and the Great Divergence

Azarnert, Leonid V. - 2014

This work shows the asymmetric effect of the reduction in transportation costs across different sectors in the process of the Great Divergence. Specifically, the analysis indicates that reductions in transportation costs of industrial goods enhance convergence of the growth rates of trading...

Persistent link: https://www.econbiz.de/10013054015

Beyond Balassa and Samuelson : Real Convergence, Capital Flows, and Competitiveness in Greece

Belke, Ansgar Hubertus - 2015

We scrutinize the role of capital flows for competitiveness in seven euro-area countries in the context of real convergence and crisis with a specific focus on Greece. The paper extends the seminal Balassa-Samuelson model to include international capital markets. Capital flows are assumed to be...

Persistent link: https://www.econbiz.de/10013012270

Austerity, Growth and Inflation - Remarks on the Eurozone's Unresolved Competitiveness Problem

Sinn, Hans-Werner - 2013

While the financial protection measures enacted by the ECB and the community of Eurozone members have calmed financial markets, they have left the competitiveness problem of the Eurozone's southern countries and France unresolved. The paper compares price inflation before the crisis with the...

Persistent link: https://www.econbiz.de/10013087283

Catching-Up and Inflation in Europe : Balassa-Samuelson, Engel's Law and Other Culprits

Égert, Balázs - 2013

This study analyses the impact of economic catching-up on annual inflation rates in the European Union with a special focus on the new member countries of Central and Eastern Europe. Using an array of estimation methods, we show that the Balassa-Samuelson effect is not an important driver of...

Persistent link: https://www.econbiz.de/10013094566

Is Europe an Optimal Political Area?

Alesina, Alberto F.; Tabellini, Guido; Trebbi, Francesco - 2021

Employing a wide range of individual-level surveys, we study the extent of cultural and institutional heterogeneity within the EU and how this changed between 1980 and 2008. We present several novel empirical regularities that paint a complex picture. While Europe has experienced both systematic...

Persistent link: https://www.econbiz.de/10013315447

Catching-Up, Inflation Differentials and Credit Booms in a Heterogeneous Monetary Union : Some Implications for Emu and New EU Member States

MacDonald, Ronald - 2013

In this paper we propose an alternative explanation for the nature, sources and consequences of inflation rate differentials in a monetary union, such as EMU. To achieve this, we build on the new neoclassical synthesis (NNS) framework, recently advanced by Goodfriend (2002) and Goodfriend and...

Persistent link: https://www.econbiz.de/10012754168

Cross-Country Income Differences and Technology Diffusion in a Competitive World

Irmen, Andreas - 2012

-degenerate world income distribution. In accordance with the empirical literature, I find that country characteristics such as the … policies such as subsidies to innovation investments explain a country's position in the eventual world income distribution …

Persistent link: https://www.econbiz.de/10012754962

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