Similar Search Results

Till labor cost do us part : on the long run convergence of EMU countries

Pancotto, Francesca; Pericoli, Filippo Maria - 2011

A sustainable long-run pattern in the relative competitiveness of euro area countries is a key factor for the survivorship of the monetary union. We analyze the issue focussing on unit labor cost dynamics using cointegration analysis for the whole economy and for the manufacturing sector...

Persistent link: https://www.econbiz.de/10011735051

The global downturn and its impact on euro area exports and competitiveness

di Mauro, Filippo; Forster, Katrin; Lima, Ana - 2010

World trade contracted sharply in late 2008 and early 2009 following the deepening of the financial crisis in September 2008. This paper discusses the main mechanisms behind the global downturn in trade and its impact on euro area exports and competitiveness. It finds that the euro area was hit...

Persistent link: https://www.econbiz.de/10011606271

Real Convergence in the Euro Area : A Long-Term Perspective

Diaz del Hoyo, Juan Luis - 2017

that of higher-income economies since the start of monetary union. The significant real convergence performance of some of … view” and reviewing the evidence since the 1960s, this paper shows that certain member countries began to face a “non-convergence … driving real convergence in the euro area over time, alongside other factors; and (ii) the crucial interaction of real …

Persistent link: https://www.econbiz.de/10012941989

The Transition of China to Sustainable Growth – Implications for the Global Economy and the Euro Area

Dieppe, Alistair - 2018

China's rise has been the economic success story of the past four decades but economic growth has been slowing and domestic imbalances have widened. This paper analyses the recent evolution of China's imbalances, the risks they pose to the economic outlook and the potential impact of a...

Persistent link: https://www.econbiz.de/10012928882

The reform and implementation of the Stability and Growth Pact

Morris, Richard; Ongena, Hedwig; Schuknecht, Ludger - 2006

Fiscal rules are instrumental for restraining deficit and spending biases in euro area Member States that could threaten the smooth functioning of Economic and Monetary Union (EMU). Ideally, fiscal rules should combine characteristics such as sufficient flexibility to allow for appropriate...

Persistent link: https://www.econbiz.de/10011606199

The use of the Eurosystem's monetary policy instruments and operational framework since 2009

Eser, Fabian; Carmona Amaro, Marta; Iacobelli, Stefano; … - 2012

This paper provides a comprehensive overview of the use of the Eurosystem’s monetary policy instruments and the operational framework from the first quarter of 2009 until the second quarter 2012. The paper discusses in detail, from a liquidity management perspective, the standard and...

Persistent link: https://www.econbiz.de/10011606287

State-of-play in implementing macroeconomic adjustment programmes in the euro area : short version

Gros, Daniel; Alcidi, Cinzia; Belke, Ansgar; Coutinho, … - 2014

Two of the four macroeconomic adjustment programmes, Portugal and Ireland’s, can be considered a success in the sense that the initial expectations in terms of adjustment, both fiscal and external, were broadly fulfilled. A rebound based on exports has taken hold in these two countries, but a...

Persistent link: https://www.econbiz.de/10010349252

The euro area crisis management framework : consequences and institutional follow-ups

Belke, Ansgar - 2010

The current instruments in the EU to deal with debt and liquidity crises include among others the European Financial Stability Facility (EFSF) and the European Financial Stabilisation Mechanism (EFSM). Both are temporary in nature (3 years). In terms of an efficient future crisis management...

Persistent link: https://www.econbiz.de/10008933285

Reinforcing EU governance in times of crisis : the commission proposals and beyond

Belke, Ansgar - 2010

The recent extensive package introduced by the Commission is the most comprehensive reinforcement of economic governance in the EU and the euro area since the launch of the Economic and Monetary Union. Broader and enhanced surveillance of fiscal policies, but also macroeconomic policies and...

Persistent link: https://www.econbiz.de/10008934948

The Size and Composition of Government Debt in the Euro Area

Hartwig Lojsch, Dagmar - 2011

This paper explains the various concepts of government debt in the euro area with particular emphasis on its size and composition. In terms of size, the paper focuses on different definitions that are in use, in particular the concept of gross general government debt used in the surveillance of...

Persistent link: https://www.econbiz.de/10013120240