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How is Real Convergence Driving Nominal Convergence in the New EU Member States?

Lein, Sarah M.; Leon-Ledesma, Miguel A.; Nerlich, Carolin - 2021

The purpose of this paper is to evaluate the empirical relevance of real convergence on the process of nominal convergence for the new EU Member States. We discuss two of the main channels through which real convergence could affect relative prices with respect to the euro area: productivity...

Persistent link: https://www.econbiz.de/10013316776

Are Preferential Agreements Beneficial to EU Trade? New Evidence from the EU-South Korea Treaty

Quintieri, Beniamino; Stamato, Giovanni - 2023

This paper empirically investigates the effect of the EU-South Korea free trade agreement (FTA) on manufacturing trade flows. By applying a state-of-the-art structural gravity model with intranational (i.e., domestic) trade and using disaggregated data, we quantify both the trade impact and the...

Persistent link: https://www.econbiz.de/10014356357

Distance(s) and the Volatility of International Trade(s)

Mehl, Arnaud - 2019

Does distance matter for the volatility of international real and financial transactions? We show that it does, in addition to its well-established relevance for the level of trade. A simple model of trade with endogenous markups shows that demand shocks have a larger impact on trade between...

Persistent link: https://www.econbiz.de/10012889878

Growth, Real Exchange Rates and Trade Protectionism Since the Financial Crisis

Georgiadis, Georgios - 2013

whether the historically well-documented relationship between growth, real exchange rates and trade protectionism has broken … measures. We find that the specter of protectionism has not been banished: Countries continue to pursue more trade … differences in the recourse to trade protectionism across countries: trade policies of G20 advanced economies respond more …

Persistent link: https://www.econbiz.de/10013072606

Rising Protectionism and Global Value Chains : Quantifying the General Equilibrium Effects

Cappariello, Rita - 2020

Quantifying the effects of trade policy in the age of 'global value chains' (GVCs) requires an enhanced analytical framework that takes the observed international input-output relations in due account. However, existing quantitative general equilibrium models generally assume that industry-level...

Persistent link: https://www.econbiz.de/10012844344

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 simulating EAGLE, a multi-country dynamic general equilibrium model. We consider reforms in the labor and services markets of Germany (or, alternatively, Portugal) and the rest of the...

Persistent link: https://www.econbiz.de/10013127922

The ECB's New Multi-Country Model for the Euro Area : NMCM - With Boundedly Rational Learning Expectations

Dieppe, Alistair - 2011

Rational expectations has been the dominant way to model expectations, but the literature has quickly moved to a more realistic assumption of boundedly rational learning where agents are assumed to use only a limited set of information to form their expectations. A standard assumption is that...

Persistent link: https://www.econbiz.de/10013128293

The ECB's New Multi-Country Model for the Euro Area : NMCM - Simulated with Rational Expectations

Dieppe, Alistair - 2011

The model presented here is a New estimated medium-scale Multi-Country Model (NMCM) which covers the five largest euro area countries and is used for forecasting and scenarios analysis at the European Central Bank. The model has a tight theoretical structure which allows for non-unitary...

Persistent link: https://www.econbiz.de/10013128296

Is China Climbing Up the Quality Ladder? Estimating Cross Country Differences in Product Quality Using Eurostat's COMEXT Trade Database

Pula, Gabor - 2011

There is an ongoing debate in the literature about the quality content of Chinese exports and to what extent China imposes a threat to the market positions of advanced economies. While China's export structure is very similar to that of the advanced world, its export unit values are well below...

Persistent link: https://www.econbiz.de/10013129033

Financial Advice and Stock Market Participation

Georgarakos, Dimitris - 2011

We introduce professional financial advice in households' choice to hold risky financial assets. Consistent with the predictions from a formal model, we present evidence that households' trust in financial advice only matters when their perceived own financial capability is low. Instead, for...

Persistent link: https://www.econbiz.de/10013130159

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