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This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the social and political costs of a GREXIT, but also of a continuing austerity policy. It proposes a reform policy fostering growth in Greece and discusses the role of conditionality....
Persistent link: https://www.econbiz.de/10011308548
This paper presents an empirical assessment of the endogenous optimum currency area theory. Frankel and Rose (1998) study the endogeneity of a currency union through the lens of international trade flows. Our study extends Frankel and Rose's model by using FDI flows to test the original theory...
Persistent link: https://www.econbiz.de/10003760087
How does the asymmetry of labor market institutions affect the adjustment of a currency union to shocks? To answer this question, this paper sets up a dynamic currency union model with monopolistic competition and sticky prices, hiring frictions and real wage rigidities. In our analysis, we...
Persistent link: https://www.econbiz.de/10009536516
We analyse the evolution of EU citizens' living standards, considering the EU as a single country. Average living standards have improved considerably as the European integration process has unfolded. EU28 income inequality has steadily declined, mostly as a result of the macroeconomic...
Persistent link: https://www.econbiz.de/10012015871
"This paper deals with potential instabilities in the Eurozone stemming from an insufficient interplay between monetary …
Persistent link: https://www.econbiz.de/10003429626
Using merged data from the British Household Panel Survey (BHPS) and the German Socio-Economic Panel (SOEP), this paper applies a parametric difference-in-differences approach to assess the real effects of the introduction of the euro on subjective well-being. A complementary nonparametric...
Persistent link: https://www.econbiz.de/10003522939
This paper analyzes the effects of different labor market institutions on inflation and output volatility. The eurozone … and inflation volatility ; labor turnover costs ; unemployment benefits ; unemployment ; eurozone …
Persistent link: https://www.econbiz.de/10003961662
representative household microdata from 11 Eurozone countries to simulate these policy reforms and to study their effects on the … that not all forms of fiscal integration will improve macroeconomic stability in the Eurozone. -- European income tax …
Persistent link: https://www.econbiz.de/10009545267
representative household microdata from 11 Eurozone countries to simulate these policy reforms and to study their effects on the … that not all forms of fiscal integration will improve macroeconomic stability in the Eurozone. -- European income tax …
Persistent link: https://www.econbiz.de/10009667120
Competitiveness differentials are blamed for the instability of the Eurozone. Most of the analyses focus on labour … additional dividends. The yearly charge counts for at least 4% of their value added. -- Eurozone ; competitiveness ; non …
Persistent link: https://www.econbiz.de/10009715724