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Okun in the euro : new evidence from structural Okun law's estimates for the euro area, 1979-2019
Campos, Nauro; Macchiarelli, Corrado; Mitropoulos, Fotios - 2024
This paper provides new estimates of Okun’s unemployment-output relationship in euro area countries between 1979 and … characterise the literature and that the responsiveness of output to unemployment is driven by idiosyncratic factors in both euro …
Persistent link: https://www.econbiz.de/10015052585
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Does it pay to fulfill the Maastricht convergence criteria? : reflections on the public debt and growth nexus for selected European economies
Bökemeier, Bettina; Clemens, Christiane - 2016
the public budget and participation in the Euro-zone. The analysis is based on data of European economies with a special … focus on twelve Euro-zone members and a control group of six non-Euro countries for the years from 1970 to 2014. The results … European economies outside the Euro-zone shows higher growth values for Euro-members than for the control group. Regression …
Persistent link: https://www.econbiz.de/10011557773
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Inflation expectations and inflation uncertainty in the eurozone : evidence from survey data
Arnold, Ivo J. M. (contributor); Lemmen, Jan (contributor) - 2006
This paper uses the European Commission's Consumer Survey to assess whether inflation expectations have converged and whether inflation uncertainty has diminished following the introduction of the Euro in Europe. Consumers' responses to the survey suggest that inflation expectations depend more...
Persistent link: https://www.econbiz.de/10003301079
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Public finances solvency in the Euro Area : true or false?
Afonso, António; Coelho, José Carlos - 2022
We assess public finances solvency for Euro Area countries using quarterly data between 1999Q1 and 2020Q4. Through a country-by-country analysis, the answer to the title question is true. For most countries, (i) the primary budget balance reacts positively to the lagged public debt ratio and...
Persistent link: https://www.econbiz.de/10013365375
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Hypnosis before wake-up call?! : the revival of sovereign credit risk perception in the EMU-crisis
Bordon, Ingo G.; Schmid, Kai D.; Schmidt, Michael - 2014 - This Version: July 2014
This paper qualifies the view of pronounced overpricing of sovereign bonds for the so-called GIIPS countries during the financial crisis. We use annual data for 21 OECD countries from 1980 to 2012. As opposed to related studies, our data set allows us to contrast the pricing of macroeconomic...
Persistent link: https://www.econbiz.de/10010393624
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Fiscal sustainability, fiscal reactions, pitfalls and determinants
Afonso, António; Coelho, José Carlos - 2022
We examine the sustainability of public finances and its determinants for 19 Eurozone countries from 1995 to 2020. We …
Persistent link: https://www.econbiz.de/10013162289
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Monetary policy surprise shocks under different fiscal regimes : a panel analysis of the Euro Area
Afonso, António; Alves, José; Ionta, Serena - 2023
We study the effect of monetary policy surprise shocks on real output and the price level, conditioned on different fiscal stances in the period 2001Q4-2021Q4 for a panel of the 19 countries of the Euro Area. Applying local projection methodology, we find that the effect of monetary shocks...
Persistent link: https://www.econbiz.de/10014336399
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Identifying global and national output and fiscal policy shocks using a GVAR
Chudik, Alexander; Pesaran, M. Hashem; Mohaddes, Kamiar - 2019
The paper contributes to the growing global VAR (GVAR) literature by showing how global and national shocks can be identified within a GVAR framework. The usefulness of the proposed approach is illustrated in an application to the analysis of the interactions between public debt and real output...
Persistent link: https://www.econbiz.de/10011956353
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GDP growth, private debt and monetary policy
Cafiso, Gianluca - 2017
Economic research has considered Private Debt a determinant of GDP growth for years. By keeping this perspective, the objective of this work is to understand how much of the GDP response to a monetary shock is due to the variation of private debt. This is the marginal contribution of private...
Persistent link: https://www.econbiz.de/10011659392
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Evidence on fiscal consolidations and the evolution of public debt in Europe
Cafiso, Gianluca; Cellini, Roberto - 2012
The objective of this paper is to gain insights into the relationship between deficit-reducing policies and the evolution of the debt/GDP ratio. We consider past events of fiscal consolidation in a selected group of EU countries, by using the new data set recently made available by Devries et...
Persistent link: https://www.econbiz.de/10009687276