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Trade intensity and output synchronisation : on the endogeneity properties of EMU

Caporale, Guglielmo Maria; De Santis, Roberta; Girardi, … - 2013

Using annual bilateral data over the period 1988-2011 for a panel of 24 industrialised and emerging economies, we analyse in a time-varying framework the determinants of output synchronisation in EMU (European Monetary Union) distinguishing between core and peripheral member states. The results...

Persistent link: https://www.econbiz.de/10009724042

Currency unions, trade, and heterogeneity

Chen, Natalie; Novy, Dennis - 2018

How do trade costs affect international trade? This paper offers a new approach. We rely on a flexible gravity equation …

Persistent link: https://www.econbiz.de/10011867116

Friends without benefits? : new EMU members and the "euro effect" on trade

Mika, Alina; Zymek, Robert - 2017

countries which adopted the common currency since 2002. Based on "state of the art" gravity estimations for the period 1992 …-2013, we reach three main conclusions. First, estimates from an appropriately specified and estimated gravity equation provide … global average during the 2002-2013 period. Using the functional form of a theory-consistent gravity equation, we perform …

Persistent link: https://www.econbiz.de/10011597238

Currency unions, trade and heterogeneity

Chen, Natalie; Novy, Dennis - 2018

Persistent link: https://www.econbiz.de/10011883779

Financial stability in Europe : banking and sovereign risk

Brůha, Jan; Kočenda, Evžen - 2017

We analyze the link between banking sector quality and sovereign risk in the whole European Union over 1999–2014. We employ four different indicators of sovereign risk (including market- and opinion-based assessments), a rich set of theoretically and empirically motivated banking sector...

Persistent link: https://www.econbiz.de/10011646829

Exports and capacity constraints : evidence for several euro area countries

Belke, Ansgar; Oeking, Anne; Setzer, Ralph - 2015

We argue that, under certain conditions, firms consider exports as a substitute for domestic demand. Our econometric model for six euro area countries suggests domestic demand and capacity constraints as additional variables for export equations. We apply the exponential and logistic variant of...

Persistent link: https://www.econbiz.de/10011300368

German wage moderation and European imbalances : feeding the global VAR with theory

Bettendorf, Timo; León-Ledesma, Miguel A. - 2015

German labor market reforms in the 1990s and 2000s are generally believed to have driven the large increase in the dispersion of current account balances in the Euro Area. We investigate this hypothesis quantitatively. We develop an open economy New Keynesian model with search and matching...

Persistent link: https://www.econbiz.de/10011292316

Export hysteresis, capacity constraints and uncertainty : a smooth-transition analysis for euro area member countries

Belke, Ansgar; Wagemester, Jan - 2017

We argue that, under certain conditions described by a sunk cost hysteresis model, firms consider exports as a substitute for domestic demand. This is valid also on the macroeconomic level where the switch from the domestic market to the export market and vice versa takes place in a smooth...

Persistent link: https://www.econbiz.de/10011718600

Current account imbalances and structural adjustment in the Euro area : how to rebalance competitiveness

Zemanek, Holger; Belke, Ansgar; Schnabl, Gunther - 2009

Low international competitiveness of a set of euro area countries, which have become evident by large current account deficits and rising risk premiums on government bonds, is one of the most challenging economic policy issues for Europe. We analyse the role of private restructuring and public...

Persistent link: https://www.econbiz.de/10003850175

Inter-temporal savings, current account dynamics and asymmetric shocks in a heterogeneous European Monetary Union

Schnabl, Gunther; Zemanek, Holger - 2010

In the current debate on the reasons and implications of the Greek and Irish euro crisis, the intra-European current account imbalances have gained rising attention. Whereas Greece and Ireland struggle for austerity in private and public spending, Germany is urged to reduce its current account...

Persistent link: https://www.econbiz.de/10008798227

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