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Catching-up, inflation differentials and credit booms in a heterogeneous monetary union : some implications for EMU and new EU member states

MacDonald, Ronald (contributor); Wójcik, Cezary (contributor) - 2006

Persistent link: https://www.econbiz.de/10003364558

Real convergence, capital flows, and competitiveness in Central and Eastern Europe

Belke, Ansgar; Schnabl, Gunther; Zemanek, Holger - 2009

The paper scrutinizes the role of wages and capital flows for competitiveness in the new EU member states in the context of real convergence. For this purpose it extends the seminal Balassa-Samuelson model by international capital markets. The augmented Balassa-Samuelson model is linked to the...

Persistent link: https://www.econbiz.de/10003897541

Real convergence, capital flows, and competitiveness in Central and Eastern Europe

Belke, Ansgar; Schnabl, Gunther; Zemanek, Holger - 2010

Persistent link: https://www.econbiz.de/10008907306

A global compass for the great divergence : emissions vs. production centers of gravity 1820-2008

Sauter, Caspar; Grether, Jean-Marie; Mathys, Nicole Andréa - 2019

We construct the world's centers of gravity for human population, GDP and CO2 emissions by taking the best out of five recognized data sources covering the last two centuries. On the basis of a novel distorsion-free representation of these centers of gravity, we find a radical Western shift of...

Persistent link: https://www.econbiz.de/10011987041

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 2019. We find our structural estimates are stable but substantially lower than the reduced-form estimates that tend to characterise the literature and that the responsiveness of...

Persistent link: https://www.econbiz.de/10015052585

Beyond Balassa and Samuelson : real convergence, capital flows, and competitiveness in Greece

Belke, Ansgar; Haskamp, Ulrich; Schnabl, Gunther; … - 2015

We scrutinize the role of capital flows for competitiveness in seven euro-area countries in the context of real convergence and crisis with a specific focus on Greece. The paper extends the seminal Balassa-Samuelson model to include international capital markets. Capital flows are assumed to be...

Persistent link: https://www.econbiz.de/10011350203

Structural reforms and the enlargement of monetary union

Hefeker, Carsten - 2000

The paper addresses the question what effects the enlargement of a monetary union will have on necessary structural refoms in the (low distortion) member countries and the (high distortion) candidate country. While monetary union lowers reforms in the candidate country, members of the monetary...

Persistent link: https://www.econbiz.de/10009781545

Austerity, growth and inflation : remarks on the Eurozone's unresolved competitiveness problem

Sinn, Hans-Werner - 2013

While the financial protection measures enacted by the ECB and the community of Eurozone members have calmed financial … markets, they have left the competitiveness problem of the Eurozone's southern countries and France unresolved. The paper … compares price inflation before the crisis with the necessary and actual price cuts that have taken place since the outbreak of …

Persistent link: https://www.econbiz.de/10009691625

Does the Euro-zone diverge? : a stress indicator for analyzing trends and cycles in real GDP and inflation

Flaig, Gebhard (contributor); … - 2007

Persistent link: https://www.econbiz.de/10003496544

A pair-wise approach to testing for output and growth convergence

Pesaran, M. Hashem (contributor) - 2004

This paper proposes a pair-wise approach to testing for output convergence that considers all N(N-1)/2 possible pairs of log per capita output gaps across N economies. A general probabilistic definition of output convergence is also proposed, which suggests that all such output gap pairs must be...

Persistent link: https://www.econbiz.de/10002520210