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Hanisch, Max - 2017 - Revised version

This study documents empirically that contractionary US monetary policy may generate short-term expansionary spillover effects. In individual Euro Area (EA) member countries, economic activity increases, mainly via the trade channel. Also, domestic credit and stock markets expand, highlighting...

Persistent link: https://www.econbiz.de/10012041399

Are emission performance standards effective in pollution control? : evidence from the EU's large combustion plant directive

Singhal, Puja - 2019 - Revised on May 29, 2019

This paper explores the extent to which emissions limits on stack concentrations under the Large Combustion Plant (LCP) Directive succeeded in mitigating local air pollutants from thermal power stations in the European Union. We take advantage of the discontinuities in regulation status to show...

Persistent link: https://www.econbiz.de/10012012404

25 years of European merger control

Affeldt, Pauline; Duso, Tomaso; Szücs, Florian - 2019

We study the evolution of the EC’s merger decision procedure over the first 25 years of European competition policy. Using a novel dataset constructed at the level of the relevant markets and containing all merger cases over the 1990-2014 period, we evaluate how consistently arguments related...

Persistent link: https://www.econbiz.de/10011995142

Effective European antitrust : does EC merger policy generate deterrence?

Clougherty, Joseph A.; Duso, Tomaso; Lee, Miyu; … - 2015

We estimate the deterrence effects of European Commission (EC) merger policy instruments over the 1990-2009 period. Our empirical results suggest that phase-1 remedies uniquely generate robust deterrence as – unlike phase-1 withdrawals, phase-2 remedies, and preventions – phase-1 remedies...

Persistent link: https://www.econbiz.de/10011392122

Welfare effects of TTIP in a DSGE model

Engler, Philipp; Tervala, Juha - 2016

Several studies have analyzed the trade and output effects of the Transatlantic Trade and Investment Partnership (TTIP) between the United States and the European Union, but our paper is the first attempt to study its welfare effects. We measure the welfare effect of TTIP as the percentage of...

Persistent link: https://www.econbiz.de/10011568062

Balancing reserves within a decarbonized European electricity system in 2050 : from market developments to model insights

Lorenz, Casimir - 2017

This paper expands the discussion about future balancing reserve provision to the long-term perspective of 2050. Most pathways for a transformation towards a decarbonized electricity sector rely on very high shares of fluctuating renewables. This can be a challenge for the provision of balancing...

Persistent link: https://www.econbiz.de/10011635894

Long term growth perspectives in Japan and the euro area

Dreger, Christian - 2017

Euro area countries and Japan are confronted with similar challenges. Potential output is on a falling trend in the euro area, and the decrease started well before the financial crisis. In Japan, low output growth is a striking feature since many years, despite the unconventional monetary policy...

Persistent link: https://www.econbiz.de/10011639038

Re-vitalizing money demand in the euro area : still valid at the zero lower bound

Dreger, Christian; Gerdesmeier, Dieter; Roffia, Barbara - 2016

The analysis of monetary developments have always been a cornerstone of the ECB’s monetaryanalysis and, thus, of its overall monetary policy strategy. In this respect, money demandmodels provide a framework for explaining monetary developments and assessing price stabilityover the medium term....

Persistent link: https://www.econbiz.de/10011532681

Determinants of Chinese direct investments in the European Union

Dreger, Christian; Schüler-Zhou, Yun; Schüller, Margot - 2015

This paper analyses the determinants of Chinese direct investment (DI) in the European Union (EU). Evidence is based on … with China are the primary factors driving Chinese DI in the EU. In contrast, more business-friendly institutions do not … dispersion of Chinese DI in the EU has not changed much since the global financial crisis of 2008. Most relevant shifts have …

Persistent link: https://www.econbiz.de/10010519822

Euro area government bonds : integration and fragmentation during the sovereign debt crisis

Ehrmann, Michael; Fratzscher, Marcel - 2015

The paper analyzes the integration of euro area sovereign bond markets during the European sovereign debt crisis. It tests for contagion (i.e., an intensification in the transmission of shocks across countries), fragmentation (a reduction in spillovers) and flight-to-quality patterns, exploiting...

Persistent link: https://www.econbiz.de/10010519824