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US-Euro Area Term Structure Spillovers, Implications for Central Banks
Nyholm, Ken - 2017
Spillovers between the US and euro area term structures of interest rates are examined. Implications for monetary … variance decompositions, following Diebold and Yilmaz (2009), it is found that transatlantic spillovers have increased by …
Persistent link: https://www.econbiz.de/10012963922
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Spillovers from the ECB's Non-Standard Monetary Policy Measures on South-Eastern Europe
Moder, Isabella - 2018
responses in the model output, suggesting that exchange rates did not act as buffers for spillovers of euro area non …
Persistent link: https://www.econbiz.de/10012933044
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What Drives Euro Area Financial Market Developments? The Role of US Spillovers and Global Risk
Brandt, Lennart; Guilhem, Arthur Saint; Schröder, … - 2021
we allow for cross-Atlantic spillovers while also accounting for the unique role of the US in the global financial system …. Our results underline the importance of US spillovers and shifts in global risk sentiment for understanding the dynamics …
Persistent link: https://www.econbiz.de/10013225754
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Do House Price Developments Spill Over Across Euro Area Countries? Evidence from a Global VAR
Vansteenkiste, Isabel; Hiebert, Paul - 2021
This paper empirically assesses the prospects for house price spillovers in the euro area, where co-movement in house …) over the period 1989-2007. The results suggest limited house price spillovers in the euro area, with evidence of some … this aggregate development are rather heterogeneous house price spillovers at the country level, with a strong importance …
Persistent link: https://www.econbiz.de/10013316405
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Subsidising Car Purchases in the Euro Area : Any Spill-Over on Production?
Paredes, Joan - 2017
that explores the effects of these policies on domestic and foreign production to disentangle the potential spill-overs …
Persistent link: https://www.econbiz.de/10012949115
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The effects of EMU on structural reforms in labour and product markets
Duval, Romain; Elmeskov, Jørgen - 2006
Will EMU accelerate or retard structural reform in labour and product markets? The theoretical literature is ambiguous. New descriptive evidence provided in this paper suggests that euro-area countries have made relatively good progress in structural reform. However, it is much less clear...
Persistent link: https://www.econbiz.de/10011604642
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How is real convergence driving nominal convergence in the new EU Member States?
Lein-Rupprecht, Sarah M.; León-Ledesma, Miguel A.; … - 2007
The purpose of this paper is to evaluate the empirical relevance of real convergence on the process of nominal convergence for the new EU Member States. We discuss two of the main channels through which real convergence could affect relative prices with respect to the euro area: productivity...
Persistent link: https://www.econbiz.de/10011604873
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Current account benchmarks for central and eastern Europe: a desperate search?
Ca' Zorzi, Michele; Chudik, Alexander; Dieppe, Alistair - 2009
This paper examines two competing approaches for calculating current account benchmarks, i.e. the external sustainability approach á la Lane and Milesi-Ferretti (LM) versus the structural current accounts literature (SCA) based on panel econometric techniques. The aim is to gauge the medium...
Persistent link: https://www.econbiz.de/10011605041
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The public sector pay gap in a selection of Euro area countries
Giordano, Raffaela; Depalo, Domenico; Coutinho Pereira, … - 2011
We investigate the public-private wage differentials in ten euro area countries (Austria, Belgium, France, Germany, Greece, Ireland, Italy, Portugal, Slovenia and Spain). To account for differences in employment characteristics between the two sectors, we focus on micro data taken from EU-SILC....
Persistent link: https://www.econbiz.de/10011605451
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Thousands of models, one story: current account imbalances in the global economy
Chudik, Alexander; Dieppe, Alistair; Ca' Zorzi, Michele - 2012
The global financial crisis has led to a revival of the empirical literature on current account imbalances. This paper contributes to that literature by investigating the importance of evaluating model and parameter uncertainty prior to reaching any firm conclusion. We explore three alternative...
Persistent link: https://www.econbiz.de/10011605486