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for debt sustainability and, second, the reform of the EU fiscal governance framework. In both debates the choice of … rule at the centre of the EU fiscal governance framework would allow reducing the latter's complexity without the need to … revise the EU Treaties …
Persistent link: https://www.econbiz.de/10012840203
The Eurosystem staff forecasts are conditional on the financial markets, the global economy and fiscal policy outlook, and include expert judgement. We develop a multi-country BVAR for the four largest countries of the euro area and we show that it provides accurate conditional forecasts of...
Persistent link: https://www.econbiz.de/10012893903
Portfolio Management, Indexing and Benchmarking Approaches · Trend Dependent Correlation Analysis of Equities and Commodities in …
Persistent link: https://www.econbiz.de/10014016337
This paper analyses the impact of changes in environmental regulations on productivity growth at country- and firm-level. We exploit several data sources and the environmen-tal policy stringency index, to evaluate the Porter hypothesis, according to which firms’ productivity can benefit from...
Persistent link: https://www.econbiz.de/10014356434
Persistent link: https://www.econbiz.de/10013521083
The EU and the U.S. confront distinct factor market dynamics and common policy challenges. Labor market developments …
Persistent link: https://www.econbiz.de/10013521217
Suppose a fund manager uses predictors in changing port-folio allocations over time. How does predictability translate into portfolio decisions? To answer this question we derive a new model within the Bayesian framework, where managers are assumed to modulate the systematic risk in part by...
Persistent link: https://www.econbiz.de/10011604927
Envelopment Analysis -- Chapter 10: Super Efficiency -- Chapter 11: Sensitivity Analysis -- Chapter 12: Benchmarking Models … Analysis (DEA) as a data analysis tool for multiple-measure performance evaluation and benchmarking. The focus of performance … evaluation and benchmarking is shifted from characterizing performance in terms of single measures to evaluating performance as a …
Persistent link: https://www.econbiz.de/10014425662
This paper examines two competing approaches for calculating current account benchmarks, i.e. the external sustainability approach a la Lane and Milesi-Ferretti (LM) versus the structural current accounts literature (SCA) based on panel econometric techniques. The aim is to gauge the medium term...
Persistent link: https://www.econbiz.de/10012765675
When the global financial crisis broke, central banks in both the US and the UK undertook massive asset purchase programmes which resulted in considerable increase in assets. Cross-border spillover effects were noted across global economies. Balance sheet adjustments may eventually gnaw at the...
Persistent link: https://www.econbiz.de/10012398100