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We assess the sustainability of public finances in the EU15 using stationarity and cointegration analysis. Specifically, we use panel unit root tests of the first and second generation allowing in some cases for structural breaks. We also apply modern panel cointegration techniques developed by...
Persistent link: https://www.econbiz.de/10013316576
To make the no-bailout clause credible and enhance the effectiveness of crisis assistance, a consistent institutional and legal framework is needed to ensure that private creditors contribute to crisis resolution. Getting activated as part of ESM crisis assistance, we propose a two-stage...
Persistent link: https://www.econbiz.de/10012982263
In this paper, we track fiscal authority behaviour in the ten new EU member states (NMS) in the period which immediately preceded their EU accession. We first present basic stylized facts about public budgets of those countries. The paper then analyses reasons which led to periods of fiscal...
Persistent link: https://www.econbiz.de/10013317655
Do empires affect attitudes towards the state long after their demise? We hypothesize that the Habsburg Empire with its localized and well-respected administration increased citizens’ trust in local public services. In several Eastern European countries, communities on both sides of the...
Persistent link: https://www.econbiz.de/10013316041
In this paper, we study the drivers of permanent and transitory deposit dollarization for a sample of CESE countries using panel cointegration techniques. The results suggest that a positive cointegration relationship exists between permanent dollarization and Minimum Variance Portfolio (MVP)...
Persistent link: https://www.econbiz.de/10012997089
, regions, or countries. The enlargement of the EU or the introduction of the euro, however, can be looked upon as integration … that go along with EU integration along the border. Both at the urban and regional level, we find a beneficial influence of … the EU integration process as measured by the growth in population share along the integration borders, leading to an …
Persistent link: https://www.econbiz.de/10013130414
economic integration encourages governments to take steps to resolve conflicts and vice versa, creating a virtuous circle of …
Persistent link: https://www.econbiz.de/10013104253
We use a quantitative model to study the implications of European integration for welfare and migration flows across 1 …
Persistent link: https://www.econbiz.de/10012963382
. But integration, for instance delegating power from the nation-state to a supra-national level or international … French regions Alsace and Lorraine allows estimating differences in support for integration in a spatial regression … discontinuity design. More negative exposure to nation-state actions causes persistently higher support for European integration in …
Persistent link: https://www.econbiz.de/10012840199
The paper analyzes the appointment of the European Commission as a strategic game between members of the European Parliament and the Council. The focal equilibrium results in Commissioners that duplicate the policy preferences of national Council representatives. Different internal decision...
Persistent link: https://www.econbiz.de/10012775808