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M3 money demand and excess liquidity in the euro area

Dreger, Christian (contributor); … - 2008

Money growth in the euro area has exceeded its target since 2001. Likewise, recent empirical studies did not find evidence in favour of a stable long run money demand function. The equation appears to be increasingly unstable if more recent data are used. If the link between money balances and...

Persistent link: https://www.econbiz.de/10003726115

Investigating M3 money demand in the euro area : new evidence based on standard models

Dreger, Christian (contributor); … - 2006

Monetary growth in the euro area has exceeded its target level especially since 2001. Likewise, recent empirical studies did not find evidence in favour of a stable long run relationship between the variables entering the money demand function. Instead the equation appears to be increasingly...

Persistent link: https://www.econbiz.de/10003304393

Hysteresis and persistence in the course of unemployment : the EU and US experience

Dreger, Christian (contributor); … - 2006

We investigate hysteresis and persistence behaviour in the course of unemployment in EU countries and US states by …. Hysteresis in EU unemployment is attributed to the idiosyncratic, but not to the common component. In contrast, idiosyncratic … component. These findings might reflect a lower degree of migration of the unemployed in the EU from starving into prosperous …

Persistent link: https://www.econbiz.de/10003304447

Common and spatial drivers in regional business cycles

Artis, Michael J.; Dreger, Christian; Cholodilin, … - 2009

We examine real business cycle convergence for 41 euro area regions and 48 US states. Results obtained by a panel model with spatial correlation indicate that the relevance of common business cycle factors is rather stable over the past two decades in the euro area and the US. Ongoing business...

Persistent link: https://www.econbiz.de/10003807457

Liquidity and asset prices : how strong are the linkages?

Dreger, Christian; Wolters, Jürgen - 2009

The appropriate design of monetary policy in integrated financial markets is one of the most challenging areas for central banks. One hot topic is whether the rise in liquidity in recent years has contributed to the formation of price bubbles in asset markets. If strong linkages exist, the...

Persistent link: https://www.econbiz.de/10003807460

What do we really know about fiscal sustainability in the EU? : A panel data diagnostic

Afonso, António (contributor); … - 2007

Persistent link: https://www.econbiz.de/10003602785

Should we care for structural breaks when assessing fiscal sustainability?

Afonso, António (contributor); … - 2007

Persistent link: https://www.econbiz.de/10003602933

Price convergence in the enlarged internal market

Dreger, Christian; Cholodilin, Konstantin Arkadʹevič; … - 2007

Persistent link: https://www.econbiz.de/10003577556

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 (NUTS-2) data. The Solow model extended by human capital is employed as a workhorse. Alternative strategies are proposed to control for spatial effects. All specifications...

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

Forecasting private consumption by consumer surveys

Dreger, Christian; Cholodilin, Konstantin Arkadʹevič - 2010

consumer confidence indicator (CCI) reported by the EU Commission for the euro area and individual member states. Different …

Persistent link: https://www.econbiz.de/10009267838