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Persistent link: https://www.econbiz.de/10003641707
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
This paper explores the importance of housing and mortgage market heterogeneity in 12 European countries for the transmission of monetary policy. We use a panel VAR model which is estimated over the period 19952006 to generate impulse responses of key macroeconomic variables to a monetary policy...
Persistent link: https://www.econbiz.de/10003872444
Nowadays, it is widely believed that greater disclosure and clarity over policy may lead to greater predictability of central bank actions. We examine whether communication by the European Central Bank (ECB) adds information compared to the information provided by a Taylor rule model in which...
Persistent link: https://www.econbiz.de/10003872830
Persistent link: https://www.econbiz.de/10003377200
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