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The Role of Price and Cost Competitiveness for Intra- and Extra-Euro Area Trade of Euro Area Countries
Bobeica, Elena - 2016
This paper studies the importance of price and cost competitiveness for intra- and extra-euro area trade flows of euro area countries. A standard error correction framework shows that price competitiveness is a relatively more important driver of trade flows outside the euro area as compared to...
Persistent link: https://www.econbiz.de/10012984573
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Explaining the Money Demand of Non-Financial Corporations in the Euro Area : A Macro and a Micro View
Martinez-Carrascal, Carmen - 2010
This paper analyses euro area non-financial corporations (NFC) money demand, both from a macro and a microeconomic point of view. At a macro level, money holdings are modelled as a function of real gross added value, the price level, the long-term interest rate on bank lending to non-financial...
Persistent link: https://www.econbiz.de/10013137587
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Shocks and Labour Cost Adjustment : Evidence from a Survey of European Firms
Mathä, Thomas Y. - 2019
We use firm-level survey data from 25 EU countries to analyse how firms adjust their labour costs (employment, wages and hours) in response to shocks. We develop a theoretical model to understand how firms choose between different ways to adjust their labour costs. The basic intuition is that...
Persistent link: https://www.econbiz.de/10012871877
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Product Market Regulation, Business Churning and Productivity : Evidence from the European Union Countries
Anderton, Robert - 2019
Productivity performance in European countries has been a policy concern for some time. This paper shows that productivity can be enhanced by product market policies which, by increasing competition and efficiency, facilitate higher rates of firms' entry and exit (i.e., firm churning). Drawing...
Persistent link: https://www.econbiz.de/10012858445
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Household Money Holdings in the Euro Area : An Explorative Investigation
Seitz, Franz; von Landesberger, Julian - 2021
In this paper we analyse household holdings of the broad monetary aggregate M3 in the euro area from 1991 until 2009. We develop four models, two in nominal, two in real terms, with satisfactory economic and statistical properties. The main determinants are a transactions variable, wealth...
Persistent link: https://www.econbiz.de/10013316170
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How Are Firms’ Wages and Prices Linked : Survey Evidence In Europe
Druant, Martine; Fabiani, Silvia; Kezdi, Gabor; Lamo, Ana; … - 2021
This paper presents new evidence on the patterns of price and wage adjustment in European firms and on the extent of nominal rigidities. It uses a unique dataset collected through a firm-level survey conducted in a broad range of countries and covering various sectors. Several conclusions are...
Persistent link: https://www.econbiz.de/10013316331
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Wages, Labor or Prices : How do Firms React to Shocks?
Dhyne, Emmanuel - 2010
Survey results in 15 European countries for almost 15,000 firms reveal that Belgian firms react more than the average European firm to adverse shocks by reducing permanent and temporary employment. On the basis of a firm-level analysis, this paper confirms that the different reaction to shocks...
Persistent link: https://www.econbiz.de/10013141681
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Is China Climbing Up the Quality Ladder? Estimating Cross Country Differences in Product Quality Using Eurostat's COMEXT Trade Database
Pula, Gabor - 2011
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 the level of developed economies. Building on the assumption that unit … be justified by its relatively low average prices, implying that the quality of Chinese export products is relatively …
Persistent link: https://www.econbiz.de/10013129033
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Trade with Central and Eastern Europe : Is it Really a Threat to Wages in the West?
Polgar, Eva Katalin - 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/10013138239
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Measuring Institutional Competitiveness in Europe
Huemer, Stefan - 2013
While there are many methods to measure the competitiveness of an economy, most of these concepts ignore the fact that competitiveness can change because of market processes like wage negotiation but also because of political decision-making. Governments that compete with others for factors of...
Persistent link: https://www.econbiz.de/10013081457