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whether there is convergence in monetary transmission. The countries included are: Belgium, France, Germany, Italy, the …
Persistent link: https://www.econbiz.de/10011398432
This paper employs a novel dataset on government wages to investigate the relationship between government remuneration … government wages as used in previous research. When the relationship between government wages and corruption is modeled to vary … with the level of income, we find that the impact of government wages on corruption is strong at relatively low …
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, when market-specific heterogeneity is controlled for. Furthermore, the estimation results show that the speed of adjustment …
Persistent link: https://www.econbiz.de/10009570031
It is often argued that deregulation of international transactions and its effects on the globalization of financial markets is behind the decline in the attractiveness of fixed exchange rate regimes. We argue that, instead, much of the recently observed decrease in the level of capital controls...
Persistent link: https://www.econbiz.de/10011398048
We use real-time annual data on the fiscal balance, government current spending, current revenues and net capital outlays as published at a half yearly frequency in the OECD Economic Outlook for 25 OECD countries. For each fiscal year t we have a number of forecasts, a first release, and...
Persistent link: https://www.econbiz.de/10009621694
This paper studies the reaction of the mean and volatility of the euro-dollar exchange rate to statements of ECB officials during the first years of EMU. We focus on statements on monetary policy and the (potential) strength of the euro. We find that the Bundesbank has dominated the news...
Persistent link: https://www.econbiz.de/10011507830