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What do we really know about fiscal sustainability in the EU? A panel data diagnostic

Afonso, António; Rault, Christophe - 2007

We assess the sustainability of public finances in the EU15 over the period 1970-2006 using stationarity and … policy was sustainable both for the EU15 panel set, and within subperiods (1970-1991 and 1992-2006). …

Persistent link: https://www.econbiz.de/10011604866

3-step analysis of public finances sustainability: the case of the European Union

Afonso, António; Rault, Christophe - 2008

We use a 3-step analysis to assess the sustainability of public finances in the EU27. Firstly, we perform the SURADF … and revenues via SUR analysis. While results imply that public finances were not unsustainable for the EU panel, fiscal …

Persistent link: https://www.econbiz.de/10011604954

Budgetary and external imbalances relationship: a panel data diagnostic

Afonso, António; Rault, Christophe - 2008

between the two imbalances for each country for the period 1970-2007, and for different EU and OECD country groupings. The …

Persistent link: https://www.econbiz.de/10011605007

Spend-and-tax: a panel data investigation for the EU

Afonso, António; Rault, Christophe - In: Economics Bulletin 29 (2009) 4, pp. 2542-2548

, we study the causality between government spending and revenue for the EU in the period 1960-2006. We find spend … Finland and the UK, and for several EU New Member States. Moreover, in the run-up to EMU there was some shifting away from a …

Persistent link: https://www.econbiz.de/10008562854

Spend spend-and and-tax: a panel data investigation for the EU

Afonso, António; Rault, Christophe - In: Economics Bulletin 29 (2009) 4, pp. 32-32

unit roots, we study the causality between government spending and revenue for the EU in the period 1960 1960-2006. We find … present for Germany, Belgium, Austria Finland and the UK, and for several EU New Member States. Moreover, in the run run-up to …

Persistent link: https://www.econbiz.de/10008562955

The pass-through of exchange rate in the context of the European sovereign debt crisis

Cheikh, Nidhaleddine Ben; Rault, Christophe - 2015

This paper investigates whether exchange rate pass-through (ERPT) into import prices is a nonlinear phenomenon for five heavily indebted Euro area countries, namely the so-called GIIPS group (Greece, Ireland, Italy, Portugal, and Spain). Using logistic smooth transition models, we explore the...

Persistent link: https://www.econbiz.de/10011346864

Investigating first-stage exchange rate pass-through : sectoral and macro evidence from euro area countries

Cheikh, Nidhaleddine Ben; Rault, Christophe - 2017

In this paper, we evaluate the first-stage pass-through, namely the responsiveness of import prices to the exchange rate changes, for a sample of euro area (EA) countries. Our study aims to shed further light on the role of microeconomic factors vs. macroeconomic factors in influencing the...

Persistent link: https://www.econbiz.de/10011611289

Recent estimates of exchange rate pass-through to import prices in the Euro area

Cheikh, Nidhaleddine Ben; Rault, Christophe - 2015

This paper provides an update on the exchange rate pass-through (ERPT) estimates for 12 euro area (EA) countries. First, based on quarterly data over the 1990-2012 period, our study does not find a significant heterogeneity in the degree of pass-through across the monetary union members, in...

Persistent link: https://www.econbiz.de/10010518820

Household risk management and actual mortgage choice in the euro area

Ehrmann, Michael; Ziegelmeyer, Michael - 2014

Mortgages constitute the largest part of household debt. An essential choice when taking out a mortgage is between fixed-interest-rate mortgages (FRMs) and adjustable-interest-rate mortgages (ARMs). However, so far, no comprehensive cross-country study has analyzed what determines household...

Persistent link: https://www.econbiz.de/10010235889

Europe agreements and trade balance : evidence from four new EU members

Caporale, Guglielmo Maria; Rault, Christophe; Sova, Robert - 2011

This paper analyses the trade balance effects of Europe agreements (EA) between the EU-15 and four new EU members from …

Persistent link: https://www.econbiz.de/10009010184