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Pensions and Fertility : Back to the Roots -- The Introduction of Bismarck's Pension Scheme and the European Fertility Decline
Fenge, Robert - 2014
Fertility has long been declining in industrialised countries and the existence of public pension systems is considered as one of the causes. This paper provides detailed evidence based on historical data on the mechanism by which a public pension system depresses fertility. Our theoretical...
Persistent link: https://www.econbiz.de/10013047746
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House Price Cycles in Europe
Corradin, Stefano - 2013
sets of results. First, house price returns in Europe are generally characterized by three (high, medium and low) phases …
Persistent link: https://www.econbiz.de/10013072994
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Capturing the Financial Cycle in Europe
Stremmel, Hanno - 2015
In this study, we approximate the financial cycle in Europe by combining potential common and relevant financial …
Persistent link: https://www.econbiz.de/10013020632
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European Firm Adjustment During Times of Economic Crisis
Fabiani, Silvia - 2015
This paper exploits a unique cross-country, firm-level survey to study the responses of European firms to the sharp demand and credit contraction triggered by the global Great Recession of 2009. The analysis reveals that cost reduction — particularly labour cost reduction through the...
Persistent link: https://www.econbiz.de/10013024781
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Unconventional monetary policy and the great recession - Estimating the impact of a compression in the yield spread at the zero lower bound
Baumeister, Christiane; Benati, Luca - 2010
We explore the macroeconomic impact of a compression in the long-term bond yield spread within the context of the Great Recession of 2007-2009 via a Bayesian time-varying parameter structural VAR. We identify a ‘pure’ spread shock which, leaving the short-term rate unchanged by construction,...
Persistent link: https://www.econbiz.de/10011605304
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Missing Disinflation and Missing Inflation : The Puzzles that Aren't
Bobeica, Elena - 2017
In the immediate wake of the Great Recession we didn't see the disinflation that most models predicted and, subsequently, we didn't see the inflation they predicted. We show that these puzzles disappear in a Vector Autoregressive model that properly accounts for domestic and global factors. Such...
Persistent link: https://www.econbiz.de/10012963925
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Job flow dynamics and firing restrictions: evidence from Europe
Messina, Julián; Vallanti, Giovanna - 2006
We exploit homogeneous firm level data of manufacturing and non-manufacturing sectors to study the impact of firing restrictions on job flow dynamics across 14 European countries. We find that more stringent firing laws dampen the response of job destruction to the cycle, thus making job...
Persistent link: https://www.econbiz.de/10011604648
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Sectoral explanations of employment in Europe: the role of services
D’Agostino, Antonello; Serafini, Roberta; … - 2006
sector, four sub-sectors and twelve service sector branches. Recently, both Europe and the US have experienced an increase in … the growth of service jobs in Europe relative to the US persists. Understanding the main factors behind this gap is key to … achieving higher employment levels in Europe. This paper focuses on the role of barriers in the EU-15 which may have hindered …
Persistent link: https://www.econbiz.de/10011604671
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The effect of financial development on the investment cash flow relationship: cross-country evidence from Europe
Becker, Bo; Sivadasan, Jagadeesh - 2006
We investigate financing constraints in a large cross-country data set covering most of the European economy. Firm level investment sensitivity to cash flow is used to identify financing constraints. We find that the sensitivities are significantly positive on average, controlling for country...
Persistent link: https://www.econbiz.de/10011604735
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Fragmentation, Incomes and Jobs : An Analysis of European Competitiveness
Timmer, Marcel P. - 2013
Increasing fragmentation of production across borders is changing the nature of international competition. As a result, conventional indicators of competitiveness based on gross exports become less informative and new measures are needed. In this paper we propose an ex-post accounting framework...
Persistent link: https://www.econbiz.de/10013072991