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Structural Reforms and Macroeconomic Performance in the Euro Area Countries : A Model-Based Assessment
Gomes, Sandra - 2011
We quantitatively assess the macroeconomic effects of country-specific supply-side reforms in the euro area by … Germany (or, alternatively, Portugal) and the rest of the euro area. Our main results are as follows. First, there are … (Portuguese) labor and services market would induce an increase in the long-run German (Portuguese) output equal to 8.8 (7 …
Persistent link: https://www.econbiz.de/10013127922
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Trade with Central and Eastern Europe : Is it Really a Threat to Wages in the West?
Polgar, Eva Katalin - 2010
This paper analyses the relationship between openness to trade and wages at the industry level (15 manufacturing industries) in 25 EU countries over the period from 1995 to 2005. By applying a cross-country and industry-specific approach, it is possible to control for unobserved heterogeneity at...
Persistent link: https://www.econbiz.de/10013138239
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Macroeconomic Effects of Unconventional Monetary Policy in the Euro Area
Peersman, Gert - 2011
I find that the Euro-system can stimulate the economy beyond the policy rate by increasing the size of its balance … multiplier declines considerably after an expansion of the Euro-systems balance sheet …
Persistent link: https://www.econbiz.de/10013119125
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Fragmentation, Incomes and Jobs : An Analysis of European Competitiveness
Timmer, Marcel P. - 2013
Increasing fragmentation of production across borders is changing the nature of international competition. As a result, conventional indicators of competitiveness based on gross exports become less informative and new measures are needed. In this paper we propose an ex-post accounting framework...
Persistent link: https://www.econbiz.de/10013072991
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House Price Cycles in Europe
Corradin, Stefano - 2013
Euro area sovereign debt crisis …
Persistent link: https://www.econbiz.de/10013072994
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Setting Countercyclical Capital Buffers Based on Early Warning Models : Would it Work?
Behn, Markus - 2013
This paper assesses the usefulness of private credit variables and other macrofinancial and banking sector indicators for the setting of Basel III/CRD IV countercyclical capital buffers (CCBs) in a multivariate early warning model framework, using data for 23 EU Members States from 1982 Q2 to...
Persistent link: https://www.econbiz.de/10013074386
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Predicting Distress in European Banks
Betz, Frank - 2013
The paper develops an early-warning model for predicting vulnerabilities leading to distress in European banks using both bank and country-level data. As outright bank failures have been rare in Europe, the paper introduces a novel dataset that complements bankruptcies and defaults with state...
Persistent link: https://www.econbiz.de/10013074637
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Fiscal Policy Shocks in the Euro Area and the US : An Empirical Assessment
Burriel, Pablo - 2009
We analyse the impact of fiscal policy shocks in the euro area as a whole, using a newly available quarterly dataset of … fiscal variables for the period 1981-2007. To allow for comparability with previous results on euro area countries and the US … net taxes shocks. In addition, to frame euro area results, we apply the same methodology for the same sample period to US …
Persistent link: https://www.econbiz.de/10013153261
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Balance Sheet Interlinkages and Macro-Financial Risk Analysis in the Euro Area
Castren, Olli - 2009
transmission processes at the systemic level. We use the euro area financial accounts (flow of funds) data to construct a sector … leverage and asset volatility. We conclude that the bilateral cross-sector exposures in the euro area financial system …
Persistent link: https://www.econbiz.de/10013153431
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The Impact of Extreme Weather Events on Budget Balances and Implications for Fiscal Policy
Lis, Eliza M. - 2009
This paper explores implications of climate change for fiscal policy by assessing the impact of large scale extreme weather events on changes in public budgets. We apply alternative measures for large scale extreme weather events and conclude that the budgetary impact of such events ranges...
Persistent link: https://www.econbiz.de/10013159926