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Completing the monetary union of Europe as mid-term solution of the Euro crisis
Fischer, Justina A. V.; Pastore, Francesco - 2015
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
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Fiscal policy, sovereign default, and bailouts
Jüßen, Falko; Schabert, Andreas - 2013
This paper examines fiscal policy without commitment and the effects of conditional bailout loans. The government relies on distortionary taxation and decides between full debt repayment and costly default. It tends to overborrow due to myopia, which induces default to be a relevant policy...
Persistent link: https://www.econbiz.de/10010225902
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Displacement and debt : the role of debt in returning to work in the period following the Great Recession
Bednarzik, Robert W.; Kern, Andreas; Hisnanick, John J. - 2017
The onset of the housing and subsequent financial crisis in 2008 marked the steepest economic downturn in the United. States, since the Great Depression in the late 1920s and 1930s. This most recent financial crisis has been characterized by massive layoffs and displacement. Given the depth of...
Persistent link: https://www.econbiz.de/10011647674
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Migration as an adjustment mechanism in the crisis? : a comparison of Europe and the United States
Jauer, Julia; Liebig, Thomas; Martin, John P.; Puhani, … - 2014
disparities, in particular within the Eurozone where there is no exchange-rate mechanism available to play this role. We shed some … new light on this question by comparing pre- and post-crisis migration movements at the regional level in both Europe and … in Europe. Indeed, in contrast to the pre-crisis situation and the findings of previous empirical studies, there is …
Persistent link: https://www.econbiz.de/10010238890
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Migration as an adjustment mechanism in the crisis? : a comparison of Europe and the United States 2006-2016
Jauer, Julia; Liebig, Thomas; Martin, John P.; Puhani, … - 2018
-crisis migration movements at the regional level in both Europe and the United States, and their association with asymmetric labour … market shocks. Based on fixed-effects regressions using regional panel data, we find that Europe's migratory response to … measured population changes in Europe were due to migration for employment purposes - i.e. an upper-bound estimate - up to …
Persistent link: https://www.econbiz.de/10011798141
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Can US coordination failure explain why Americans work so much more than Europeans?
Schiff, Maurice W. - 2014
externality that is internalized in Europe through laws on the minimum amount of vacation time (and maximum hours of work … model and data on work time are used to obtain an estimate of the US welfare gain from reducing its work time to Europe …
Persistent link: https://www.econbiz.de/10010258175
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Population adjustment to asymmetric labour market shocks in India : a comparison to Europe and the United States at two different regional levels
Braschke, Franziska; Puhani, Patrick A. - 2022
the state/NUTS-1 and district level in both the United States and Europe. We find that Indian workers react to asymmetric …
Persistent link: https://www.econbiz.de/10013262648
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Are COVID fatalities in the US higher than in the EU, and if so, why?
Aparicio Fenoll, Ainoa; Grossbard-Shechtman, Shoshana - 2020
The COVID crisis has severely hit both the United States and the European Union. Even though they are the wealthiest regions in the world, they differ substantially in economic performance, demographic characteristics, type of government, health systems, and measures undertaken to counteract...
Persistent link: https://www.econbiz.de/10012290644
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The pass-through of exchange rate in the context of the European sovereign debt crisis
Cheikh, Nidhaleddine Ben; Rault, Christophe - 2015
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
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The distribution of well-being among Europeans
Brandolini, Andrea; Rosolia, Alfonso - 2019
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