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This study examines the impact of financial integration on economic growth in the case of 31 European countries over the period from 2000 to 2021 using dynamic panel data models. The estimation results provide evidence of significant positive effects of financial integration on economic growth....
Persistent link: https://www.econbiz.de/10014314278
This paper analyses the short- and long-run effects of trade openness on financial development in a panel including data on 35 European countries over the period 2001-2019. For this purpose, it uses the PMG (pooled mean group) estimator for dynamic panels developed by Pesaran et al. (1999). The...
Persistent link: https://www.econbiz.de/10012514560
There is no consensus about the causes of the reduction in business cycle volatility seen in many major economies over the last decade. Using stylised models of the economies of the US, Euro area, UK and Japan, we argue that economic stability has been fostered by improved monetary policy and by...
Persistent link: https://www.econbiz.de/10002521030
The optimal mix of growth policies is determined within a comprehensive endogenous growth model. The analysis captures important elements of the tax-transfer system and accounts for transitional dynamics. Currently, for calculating corporate taxable income US firms are allowed to deduct...
Persistent link: https://www.econbiz.de/10003977338
Austria traded on the Swiss bourse during WWII. Some war events that are generally considered crucial are clearly reflected in …
Persistent link: https://www.econbiz.de/10009781716
more favourable loan package; that it is associated with over-investment even when investment does not create collateral …
Persistent link: https://www.econbiz.de/10010468584
Persistent link: https://www.econbiz.de/10003624588
using the example of forcefully displaced Bosnians who arrived in Austria during the 1992-1995 Bosnian war. Deploying 22 … attained in Austria vis-à-vis Bosnia on labour market outcomes for refugees aged around schooling thresholds. These estimates … holders are visible after more than two decades of stay in Austria. The discount on Bosnian education declines over time for …
Persistent link: https://www.econbiz.de/10012602348
We consider the issue of steady-state optimal factor taxation in a Ramsey-type dynamic general equilibrium setting with two distinct distortions: i) taxes on capital and labour are the only available tax instruments for raising revenues, and ii) labour markets are subject to a static...
Persistent link: https://www.econbiz.de/10011514112
Analyses of pension funding effects on economic growth need to differentiate between "carve-out" pension privatization in Latin America and Eastern Europe and typical "add-on" pension funding in Western Europe and North America. We find no evidence that pension privatization in Latin America and...
Persistent link: https://www.econbiz.de/10011536201