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The Political Economy Under Monetary Union : Has the Euro Made a Difference?
Fratzscher, Marcel; Stracca, Livio - 2021
Economic and Monetary Union (EMU) has transformed Europe and has created an integrated pan-European economy. Much research has focused on understanding this integration process and what benefits and costs it entails. This paper identifies a political economy channel of EMU as the monetary union...
Persistent link: https://www.econbiz.de/10013316460
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Macroeconomic Effects of Tariffs Shocks : The Role of the Effective Lower Bound and the Labour Market
Jacquinot, Pascal - 2020
We simulate a version of the EAGLE, a New Keynesian multi-country model of the world economy, to assess the macroeconomic effects of US tariffs imposed on one country member of the euro area (EA), and the rest of the world (RW). The model is augmented with an endogenous effective lower bound...
Persistent link: https://www.econbiz.de/10012829369
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New Technologies and Jobs in Europe
Albanesi, Stefania; Dias da Silva, Antonio; Jimeno, Juan F. - 2023
We examine the link between labour market developments and new technologies such as artificial intelligence (AI) and software in 16 European countries over the period 2011-2019. Using data for occupations at the 3-digit level in Europe, we find that on average employment shares have increased in...
Persistent link: https://www.econbiz.de/10014346583
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Labour Market Adjustments in Europe and the US : How Different?
Beyer, Robert - 2015
We compare the labour market response to region-specific shocks in Europe and the US and to national shocks in Europe and investigate changes over time. We employ a multi-level factor model to decompose regional labour market variables and then estimate the dynamic response of the employment...
Persistent link: https://www.econbiz.de/10013025742
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Brexit, What Brexit? Euro Area Portfolio Exposures to the United Kingdom Since the Brexit Referendum
Carvalho, Daniel; Schmitz, Martin - 2022
We study euro area investors' portfolio adjustment since the Brexit referendum in terms of securities issued in the UK … exposures to debt securities and listed shares. Our key finding is the absence of a negative "Brexit-effect" for euro area … since the Brexit referendum. The analysis also reveals an increase in the euro area's exposure to listed shares issued by UK …
Persistent link: https://www.econbiz.de/10014239454
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The Role of Real Wage Rigidity and Labor Market Frictions for Unemployment and Inflation Dynamics
Christoffel, Kai Philipp - 2006
In this paper we incorporate a labor market with matching frictions and wage rigidities into the New Keynesian business cycle model. In particular, we analyze the effect of a monetary policy shock and investigate how labor market frictions affect the transmission process of monetary policy. The...
Persistent link: https://www.econbiz.de/10012783591
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The Employment Consequences of SMEs’ Credit Constraints in the Wake of the Great Recession
Cornille, David - 2017
This article takes advantage of access to confidential matched bank-firm data relative to the Belgian economy to investigate how employment decisions of small- and medium-sized enterprises (SMEs) have been affected by credit constraints in the wake of the Great Recession. Variability in banks'...
Persistent link: https://www.econbiz.de/10012940882
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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
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Are Foreign-Owned Firms Different? Comparison of Employment Volatility and Elasticity of Labour Demand
Meriküll, Jaanika - 2014
This paper analyses differences in employment volatility in foreign-owned and domestic companies using firm-level data from 24 European countries. The presence of foreign-owned companies may lead to higher employment volatility because subsidiaries of multinational companies react more...
Persistent link: https://www.econbiz.de/10013051164
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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