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Capital and Labour (Mis)Allocation in the Euro Area : Some Stylized Facts and Determinants
Gamberoni, Elisa - 2017
We analyse the evolution of capital and labour (mis)allocation across firms in five euro-area countries (Belgium … efficiency of labour reallocation has not changed significantly. Second, the observed increase in capital misallocation has been … particularly severe in services as opposed to industry. Third, misallocation of both labour and capital dropped in all countries in …
Persistent link: https://www.econbiz.de/10012963907
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How Far are We from the Slippery Slope? The Laffer Curve Revisited
Trabandt, Mathias - 2010
We characterize the Laffer curves for labor taxation and capital income taxation quantitatively for the US, the EU-14 and individual European countries by comparing the balanced growth paths of a neoclassical growth model featuring "constant Frisch elasticity" (CFE) preferences. We derive...
Persistent link: https://www.econbiz.de/10013145143
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Private Wealth Across European Countries : The Role of Income, Inheritance and the Welfare State
Fessler, Pirmin - 2015
Using microdata from the Household Finance and Consumption Survey (HFCS), this study examines the role of inheritance, income and welfare state policies in explaining differences in household net wealth within and between euro area countries. First, about one third of the households in the 13...
Persistent link: https://www.econbiz.de/10013014961
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Inflation Persistence : Euro Area and New EU Member States
Franta, Michal - 2009
Is inflation persistence in the new EU Member States (NMS) comparable to that in the euro area countries? We argue that persistence may not be as different between the two country groups as one might expect. We confirm that one should work carefully with the usual estimation methods when...
Persistent link: https://www.econbiz.de/10012767014
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Adjusting to the Euro
Fagan, Gabriel - 2007
In this paper we argue that, for a group of converging economies of the European Union, participation in the euro area has been associated with easier access to financing by domestic economic agents. Easier access to financing was a significant impulse leading to a sharp increase in households'...
Persistent link: https://www.econbiz.de/10012778006
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Fiscal Convergence Before Entering the Emu
Onorante, Luca - 2006
differences in the national labour markets, and analyses in detail the effect of both factors. As for acceding countries, the …
Persistent link: https://www.econbiz.de/10012779801
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Optimal Reserve Composition in the Presence of Sudden Stops : The Euro and the Dollar as Safe Haven Currencies
Beck, Roland - 2008
We analytically derive optimal central bank portfolios in a minimum variance framework with two assets and quot;transaction demandsquot; caused by sudden stops in capital inflows. In this model, the transaction demands become less important relative to traditional portfolio objectives as debt to...
Persistent link: https://www.econbiz.de/10012771394
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Fiscal and Monetary Policy in the Enlarged European Union
Pogorelec, Sabina - 2021
I build a quantitative two-country DSGE model of the European Union (EU) and investigate whether there are welfare gains from fiscal policy cooperation between the new EU members and the euro area (EMU). Fiscal cooperation is defined in terms of joint maximization of the weighted average of...
Persistent link: https://www.econbiz.de/10013317557
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Long-Run Money Demand in the New EU Member States with Exchange Rate Effects
Dreger, Christian; Reimers, Hans-Eggert; Roffia, Barbara - 2021
Generally speaking, money demand models represent a natural benchmark against which monetary developments can be assessed. In particular, the existence of a well-specified and stable relationship between money and prices can be perceived as a prerequisite for the use of monetary aggregates in...
Persistent link: https://www.econbiz.de/10013317611
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Trade Integration of Central and Eastern European Countries : Lessons from a Gravity Model
Bussière, Matthieu; Fidrmuc, Jarko; Schnatz, Bernd - 2021
This paper analyses the rapid trade integration of the Central and Eastern European countries (CEEC's) with the euro area in the past ten years and draws implications for further integration. We use as benchmark an enhanced gravity model estimated for a large sample of bilateral trade flows...
Persistent link: https://www.econbiz.de/10013318195