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Current account imbalances and structural adjustment in the Euro area : how to rebalance competitiveness
Zemanek, Holger; Belke, Ansgar; Schnabl, Gunther - 2009
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
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Growing together : Croatia and Latvia
Thorvaldur Gylfason; Hochreiter, Eduard - 2010
We compare and contrast the economic growth performance of Croatia and Latvia since the collapse of communism in 1991 … governance, and institutional reforms have played a significant role in raising economic output and efficiency in both Croatia … and Latvia. The EU perspective made a more significant contribution to growth in Latvia than in Croatia, even if Latvia …
Persistent link: https://www.econbiz.de/10008697476
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Old-age provision in transition : the case of Croatia
Werding, Martin; Primorac, Marko - 2016
The Croatian system of old-age provision comprises a traditional public pay-as-you-go scheme and a mandatory funded scheme ("second pillar") that will provide increasing amounts of supplementary pensions to those entering retirement in the future. Due to the continuing economic crisis, the...
Persistent link: https://www.econbiz.de/10011429587
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Do leaders affect ethical conduct?
D'Adda, Giovanna; Darai, Donja; Weber, Roberto A. - 2014
We study whether leaders influence the unethical conduct of followers. To avoid selection issues present in natural environments, we use a laboratory experiment in which we form groups and assign leadership roles at random. We study an environment in which groups compete, with dishonest behavior...
Persistent link: https://www.econbiz.de/10010383805
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Trade, wages, and profits
Egger, Hartmut; Egger, Peter; Kreickemeier, Udo - 2012
This paper formulates a structural empirical model of heterogeneous firms whose workers exhibit fair-wage preferences, leading to a link between a firm's operating profits and wages of workers employed by this firm. We estimate the parameters of the model in a data-set of five European...
Persistent link: https://www.econbiz.de/10009581985
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O brother, where start thou? : sibling spillovers on college and major choice in four countries
Altmejd, Adam; Barrios-Fernández, Andrés; Drlje, Marin; … - 2020 - Latest version: May 10, 2020
options, we present evidence from the United States, Chile, Sweden and Croatia that older siblings' college and major choices …
Persistent link: https://www.econbiz.de/10012219366
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The renminbi central parity : an empirical investigation
Cheung, Yin-Wong; Hui, Cho H.; Tsang, Andrew - 2016
On August 11 2015, China revamped its procedure of setting the official central parity of the renminbi (RMB) against the US dollar. Our empirical investigation shows that the intertemporal dynamics of China's central parity are not the same before and after this policy change. They are more...
Persistent link: https://www.econbiz.de/10011497600
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Exchange rate regime, financial market bubbles and long-term growth in China : lessons from Japan
Schnabl, Gunther - 2016
The paper argues that persistent current account surpluses and increasing foreign currency-denominated asset positions constitute long-term appreciation expectations on yuan and yen, which have made China and Japan vulnerable to U.S. interest rate cuts and appreciation expectation shocks. For...
Persistent link: https://www.econbiz.de/10011475972
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Walk the line : conflict, state capacity and the political dynamics of reform
Jain, Sanjay; Majumdar, Sumon; Mukand, Sharun W. - 2014 - Rev.
This paper develops a dynamic framework to analyze the political sustainability of economic reforms in developing countries. First, we demonstrate that economic reforms that are proceeding successfully may run into a political impasse, with the reform's initial success having a negative impact...
Persistent link: https://www.econbiz.de/10010249669
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How to escape from the debt trap : lessons from the past
Mayer, Thomas; Schnabl, Gunther - 2021
Rising public debt everywhere has raised the question of how to reduce debt again in the future. High public debt also seems to be an impediment for the exit of central banks from ultra-low interest rates and quantitative easing. Historical precedents and proposals have included austerity,...
Persistent link: https://www.econbiz.de/10012514525