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European regional convergence in a human capital augmented solow model

Eckey, Hans-Friedrich (contributor); … - 2006

In this paper, the process of productivity convergence is investigated for the enlarged European Union using regional … control for spatial effects. All specifications confirm the presence of convergence with an annual speed between 3 and 3 … in the speed of convergence across the regions, where a higher speed is striking in particular in France and the UK …

Persistent link: https://www.econbiz.de/10003386580

On the relationship between public and private investment in the euro area

Dreger, Christian; Reimers, Hans-Eggert - 2014

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 accounting for international spillovers are employed. While private and public capital stocks are cointegrated, the...

Persistent link: https://www.econbiz.de/10010248168

Tax and spending shocks in the open economy : are the deficits twins?

Klein, Mathias; Linnemann, Ludger - 2019

We present evidence on the open economy consequences of US fiscal policy shocks identified through proxy-instrumental variables. Tax shocks and government spending shocks that raise the government budget deficit lead to persistent current account deficits. In particular, the negative response of...

Persistent link: https://www.econbiz.de/10012102659

Macroeconomic effects of government spending : the Great Recession was (really) different

Klein, Mathias; Linnemann, Ludger - 2018

We estimate the effect of government spending shocks on the US economy with a time-varying parameter vector autoregression. The recent Great Recession period appears to be characterized by uniquely large impulse responses of output to fiscal shocks. Moreover, the particularity of this period is...

Persistent link: https://www.econbiz.de/10011890166