Showing 1 - 10 of 836
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 explores the long run relationship between public and private investment in the euro area in terms of capital stocks and gross investment flows. Panel techniques ac-counting for international spillovers are employed. While private and public capital stocks are cointegrated, the...
Persistent link: https://www.econbiz.de/10010252646
the hypothesis of positive duration dependence at the beginning of the transition and slightly negative thereafter … shortening the transition. Originality: Despite the duration of the STWT is one of the most important indicators to measure the …-linear duration dependence. Furthermore, they extend the analysis by including student-workers who attended a vocational path of …
Persistent link: https://www.econbiz.de/10012698061
Debt-to-GDP ratios have grown to unprecedented levels in many industrialized economies. This requires disciplined consolidation efforts which are, however, supposed to come now at the wrong time with the economic recovery being fragile. Against this background, we call for a global debt brake...
Persistent link: https://www.econbiz.de/10009522510
This paper connects two salient economic features: (i) Fiscal shocks have asymmetric effects across business cycle phases (Gechert et al., 2019); (ii) Okun's coefficient is time varying and may be unstable. The intertwined dynamic behavior of fiscal shocks and unemployment-output trade-offs are...
Persistent link: https://www.econbiz.de/10012054782
This paper investigates whether exchange rate pass-through (ERPT) into import prices is a nonlinear phenomenon for five heavily indebted Euro area countries, namely the so-called GIIPS group (Greece, Ireland, Italy, Portugal, and Spain). Using logistic smooth transition models, we explore the...
Persistent link: https://www.econbiz.de/10011376318
This paper assesses the relationship between government and manufacturing wages. We find that the long-run relation between the two wages is stronger when the government is a large employer. Manufacturing wages are better aligned with productivity and unemployment when public wages, to which...
Persistent link: https://www.econbiz.de/10011480768
"The empirical literature on unemployment insurance has focused on its direct effect on unemployment duration, while …. This paper provides evidence on the effect of unemployment benefits on unemployment and employment duration in Europe … even if receiving benefits has a direct negative effect increasing the duration of unemployment spells, there is also a …
Persistent link: https://www.econbiz.de/10003359283
-being, relatively little is known about how this effect depends on unemployment duration. Data from three large-scale European panels is …
Persistent link: https://www.econbiz.de/10003490824
involves conditioning elapsed duration on completed unemployment duration in the reservation wage equation. Our analysis … confirms that the use of elapsed duration alone compounds two separate and opposing influences. Only with the inclusion of … completed duration is the negative effect of continued joblessness on reservation wages apparent. For its part, the completed …
Persistent link: https://www.econbiz.de/10008778692