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What Do We Really Know about Fiscal Sustainability in the EU? A Panel Data Diagnostic
Afonso, António - 2007
We assess the sustainability of public finances in the EU15 over the period 1970-2006 using stationarity and cointegration analysis. Specifically, we use panel unit root tests of the first and second generation allowing in some cases for structural breaks. We also apply modern panel...
Persistent link: https://www.econbiz.de/10012775987
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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
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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 banking linkages among twenty industrial countries in the...
Persistent link: https://www.econbiz.de/10013142360
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EMU and the Adjustment to Asymmetric Shocks : The Case of Italy
Amisano, Gianni - 2009
at a time-varying VAR model of Italy's relative performance compared with the rest of the euro area, spanning from 1976 …
Persistent link: https://www.econbiz.de/10013153396
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Does it Pay to Have the Euro? Italy's Politics and Financial Markets under the Lira and the Euro
Fratzscher, Marcel - 2009
's prosperity. The paper focuses on political events in Italy over the past 35 years and asks whether the adoption of the euro in … 1999 has helped insulate Italy's financial markets from the adverse consequences of its traditionally unstable political … system. We find that important political events have exerted a statistically and economically significant effect on Italy …
Persistent link: https://www.econbiz.de/10013159357
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Bank Lending and Monetary Transmission in the Euro Area
De Santis, Roberto A. - 2013
in Germany and Italy, which are characterized by a large number of banks; but it is very weak in Spain and more … savings banks with smaller size in Italy. Third, heterogeneity across groups of banks belonging to the same category in any …
Persistent link: https://www.econbiz.de/10013078975
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Determinants of Firms’ Efficiency : Do Innovations and Finance Constraints Matter? The Case of European Smes
Bonanno, Graziella - 2020
This paper aims at investigating the relationship between firms' profit efficiency, access to finance and innovation activities. We enrich our understanding on firms' performance by adopting the stochastic frontier approach (SFA), which allows us to estimate profit functions and to obtain...
Persistent link: https://www.econbiz.de/10012831402
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The Italian Block of the Escb Multi-Country Model
Angelini, Elena; D'Agostino, Antonello; McAdam, Peter - 2021
This paper documents the structure, estimation and simulation properties of the Italian block of the ESCB-multi-country model (MCM). The model is used regularly as an input into Eurosystem projection exercises and, to a lesser extent, in simulation analysis. The specification of the Italian...
Persistent link: https://www.econbiz.de/10013317555
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Relative House Price Dynamics Across Euro Area and US Cities : Convergence or Divergence?
Hiebert, Paul - 2010
differentials in explaining city-level house price dispersion in Germany, France, and the US (but not in Italy or Spain once …
Persistent link: https://www.econbiz.de/10013142991
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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