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Markups in the euro area and the US over the period 1981-2004 : a comparison of 50 sectors
Christopoulou, Rebekka (contributor);  … - 2008
US over the period 1981-2004. The estimates are obtained applying the methodology developed by Roeger (1995) on the EU …
Persistent link: https://www.econbiz.de/10003636104
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International transmission and monetary policy cooperation
Coenen, Günter; Lombardo, Giovanni; Smets, Frank; … - 2008
We use a version of the New Area-Wide Model (NAWM) developed at the ECB in order to quantify the gains from monetary policy cooperation. The model is calibrated in order to match a set of empirical moments. We then derive the cooperative and (open-loop) Nash monetary policies, assuming that the...
Persistent link: https://www.econbiz.de/10003636288
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Where do the brainy Italians go?
Constant, Amelie (contributor); D'Agosto, Elena (contributor) - 2008
Persistent link: https://www.econbiz.de/10003651002
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How does competition affect efficiency and soundness in banking? : new empirical evidence
Schaeck, Klaus (contributor); Čihák, Martin (contributor) - 2008
A growing body of literature indicates that competition increases bank soundness. Applying an industrial organization based approach to large data sets for European and U.S. banks, we offer new empirical evidence that efficiency plays a key role in the transmission from competition to soundness....
Persistent link: https://www.econbiz.de/10003789457
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The behaviour of the real exchange rate : evidence from regression quantiles
Nikolaou, Kleopatra (contributor) - 2006
We test for mean reversion in real exchange rates using a recently developed unit root test for non-normal processes based on quantile autoregression inference in semi-parametric and non-parametric settings. The quantile regression approach allows us to directly capture the impact of different...
Persistent link: https://www.econbiz.de/10003358655
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Forecasting economic aggregates by disaggregates
Hendry, David F. (contributor); Hubrich, Kirstin (contributor) - 2006
We suggest an alternative use of disaggregate information to forecast the aggregate variable of interest, that is to include disaggregate information or disaggregate variables in the aggregate model as opposed to first forecasting the disaggregate variables separately and then aggregating those...
Persistent link: https://www.econbiz.de/10003280663
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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
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Sectoral explanations of employment in Europe : the role of services
D'Agostino, Antonello (contributor);  … - 2006
This paper investigates the determinants of the service sector employment share in the EU-15, for the aggregate service … achieving higher employment levels in Europe. This paper focuses on the role of barriers in the EU-15 which may have hindered …
Persistent link: https://www.econbiz.de/10003337138
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On the role of stock market for real economic activity : evidence for Europe
Siliverstovs, Boriss (contributor);  … - 2006
In this study we have addressed the relationship between the stock market, the measure of real economic activity (represented by the real GDP), the economic sentiment indicator, and real interest rate for the five European countries: Germany, France, Italy, the Netherlands, and the UK. We find...
Persistent link: https://www.econbiz.de/10003338244
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The dynamics of European inflation expectations
Döpke, Jörg; Dovern, Jonas; Fritsche, Ulrich; … - 2006
We investigate the relevance of the Carroll's sticky information model of inflation expectations for four major European economies (France, Germany, Italy and the United Kingdom). Using survey data on household and expert inflation expectations we argue that the model adequately captures the...
Persistent link: https://www.econbiz.de/10003315624