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This paper examines the responses of private consumption, residential investment, and business investment in 11 EU …
Persistent link: https://www.econbiz.de/10003730274
early 2000's both in "oldʺ and "newʺ EU member states. We estimate effects of labour market institutions on various …, statistical tests indicate that there is a difference in the institutional effects between oldʺ and newʺ EU members. -- Labour …
Persistent link: https://www.econbiz.de/10003763951
the EU's total population; and even though their economic output is much lower, it rises dynamically. New members' impact … on the EU policies has nevertheless been limited. This is due not only to the arcane voting rules within the EU, but also … vote together and that their influence is thus fairly limited. We argue that as the EU seemingly lacks energy to implement …
Persistent link: https://www.econbiz.de/10003790698
The ECB has been arguing in the past that since there is no trade-off between price stability and financial stability, the pursuit of price stability is the best a central bank can do to also maintain financial stability. We argue that there is a potential trade-off between price stability and...
Persistent link: https://www.econbiz.de/10003888991
Persistent link: https://www.econbiz.de/10003897431
We model EU countries' bank ratings using financial variables and allowing for intercept and slope heterogeneity. Our … aim is to assess whether "old" and "new" EU countries are rated differently and to determine whether "new" ones are … intercepts) are a crucial determinant of ratings. Whilst "new" EU countries typically have lower ratings than "old" ones, after …
Persistent link: https://www.econbiz.de/10003974520
both the host and the source countries. It models the host country stylistically as a core EU welfare state, with tax … financed benefits and migration policies, and the migration source country as an accession country (following the EU … voter.The paper models the host country stylistically as a member of the core of an economic union (i.e., a core EU welfare …
Persistent link: https://www.econbiz.de/10003974528
An increasing number of central banks implement monetary policy via two standing facilities: a lending facility and a deposit facility. In this paper we show that it is socially optimal to implement a non-zero interest rate spread. We prove this result in a dynamic general equilibrium model...
Persistent link: https://www.econbiz.de/10008732253
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
Persistent link: https://www.econbiz.de/10003612738