Narrow search
Showing 1 - 10 of 968
Cover Image
The Euro Plus Pact : Cost Competitiveness and External Capital Flows in the EU Countries
Gabrisch, Hubert - 2014
The Euro Plus Pact was approved by 23 EU countries in March 2011 and came into force shortly afterwards. The Pact stipulates a range of quantitative targets meant to strengthen cost competitiveness with the aim of preventing the accumulation of external financial imbalances. This paper uses...
Persistent link: https://www.econbiz.de/10013058551
Cover Image
What Lies Beneath the Euro's Effect on Financial Integration? Currency Risk, Legal Harmonization, or Trade?
Kalemli-Ozcan, Sebnem - 2010
Although recent research shows that the euro has spurred cross-border financial integration, the exact mechanisms … remain unknown. We investigate the underlying channels of the euro's effect on financial integration using data on bilateral … euro's impact on financial integration is primarily driven by eliminating the currency risk. Legislative …
Persistent link: https://www.econbiz.de/10013142360
Cover Image
Financial Integration of New EU Member States
Cappiello, Lorenzo; Kadareja, Arjan; Gerard, Bruno; … - 2021
This study assesses the degree of financial integration for a selected number of new EU member states between … themselves and with the euro zone. Within the framework of a factor model for market returns, we measure integration as the … amount of variance explained by the common factor relative to the local components. We show that this measure of integration …
Persistent link: https://www.econbiz.de/10013317420
Cover Image
Spillovers and Euroscepticism
Ioannou, Demosthenes - 2015
During the crisis, support for the EU has declined noticeably in many European Union member states. While previous research on European public opinion has mainly focused on the impact of domestic country- and individual-level factors on public attitudes towards the EU, this paper argues that...
Persistent link: https://www.econbiz.de/10013020590
Cover Image
Trade with central and eastern Europe: Is it really a threat to wages in the west?
Polgár, Éva Katalin; Wörz, Julia - 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/10011605290
Cover Image
Investigating Time-Variation in the Marginal Predictive Power of the Yield Spread
Benati, Luca; Goodhart, Charles - 2021
We use Bayesian time-varying parameters VARs with stochastic volatility to investigate changes in the marginal predictive content of the yield spread for output growth in the United States and the United Kingdom, since the Gold Standard era, and in the Eurozone, Canada, and Australia over the...
Persistent link: https://www.econbiz.de/10013316893
Cover Image
Joint Estimation of the Natural Rate of Interest, the Natural Rate of Unemployment, Expected Inflation, and Potential Output
Benati, Luca; Vitale, Giovanni - 2021
We jointly estimate the natural rate of interest, the natural rate of unemployment, expected inflation, and potential output for the Euro area, the United States, Sweden, Australia, and the United Kingdom. Particular attention is paid to time-variation in (i) the data-generation process for...
Persistent link: https://www.econbiz.de/10013316896
Cover Image
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
Cover Image
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
Cover Image
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