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model for six euro area countries suggests domestic demand and capacity constraints as additional variables for export … developments are relevant for short-run export dynamics particularly during more extreme stages of the business cycle. A …
Persistent link: https://www.econbiz.de/10011300368
export market and vice versa takes place in a smooth manner. Areas of weak reaction of exports to changes in domestic demand … constraints as additional variables for export equations. We apply the exponential and logistic variant of a smooth transition … regression model and find that domestic demand developments and uncertainty are relevant for short-run export dynamics …
Persistent link: https://www.econbiz.de/10011718600
Tradable black (CO2) and green (renewables) quotas gain in popularity and stringency within climate policies of many OECD countries. The overlapping regulation through both instruments, however, may have important adverse economic implications. Based on stylized theoretical analysis and...
Persistent link: https://www.econbiz.de/10003897546
Feed-in tariffs under the Renewable Energy Sources Act, the so-called Erneuerbare-Energien-Gesetz (EEG), have triggered a massive expansion of electricity from renewable energy sources in Germany over the last decade. The increase in non-competitive renewable power generation though went hand in...
Persistent link: https://www.econbiz.de/10010252146
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
This paper studies the causes of price dispersion in the euro area emerging in response to a shock that hits all member countries symmetrically. We use a panel VAR model which is estimated over the period 1996 - 2007 to generate impulse responses of a range of price and wage variables to an oil...
Persistent link: https://www.econbiz.de/10003871916
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
Persistent link: https://www.econbiz.de/10003499532
Unilateral climate policy induces carbon leakage through the relocation of emission-intensive and trade-exposed industries to regions with no or more lenient emission regulation. Both analytical and numerical studies suggest that emission pricing combined with border carbon adjustments may be a...
Persistent link: https://www.econbiz.de/10011300313
This paper explores the potential effectiveness of the ECBś Outright Monetary Transaction (OMT) program in safeguarding an appropriate monetary policy transmission. Since the program aims at manipulating bank lending rates by conducting sovereign bond purchases on secondary markets, a stable...
Persistent link: https://www.econbiz.de/10010246072