Similar Search Results

Global Models for a Global Pandemic : The Impact of COVID-19 on Small Euro Area Economies

Garcia, Pablo; Jacquinot, Pascal; Lenarčič, Črt; … - 2021

This paper analyses the effects of the COVID-19 pandemic shock on small open economies in a monetary union with an application to the euro area. Accounting for a high degree of openness and a strong dependence on intra and extra union trade, we focus on the size and the direction of...

Persistent link: https://www.econbiz.de/10013323904

Post-Covid Fiscal Rules : A Central Bank Perspective

Hauptmeier, Sebastian; Leiner-Killinger, Nadine; … - 2022

Regarding a prospective reform of the European Stability and Growth Pact (SGP) it seems rather consensual that a simplified framework should take account of the prevailing macroeconomic context and enhance the balancing of sustainability and stabilisation considerations. This paper provides...

Persistent link: https://www.econbiz.de/10013297106

What Explains the Surge in Euro Area Sovereign Spreads During the Financial Crisis of 2007-09?

Attinasi, Maria Grazia; Checherita-Westphal, Cristina D.; … - 2021

-à-vis Germany in selected euro area countries during the period end-July 2007 to end-March 2009, when the financial turmoil … debt ratios relative to Germany contributed to higher government bond yield spreads in the euro area during the analysed …

Persistent link: https://www.econbiz.de/10013316284

Shocks, Structures or Monetary Policies? The Euro Area and US After 2001

Christiano, Lawrence J. - 2007

. By comparison with the Fed, the ECB followed a more measured course of action. We use an estimated dynamic general …

Persistent link: https://www.econbiz.de/10012776610

How Do Households Allocate Their Assets? Stylised Facts from the Eurosystem Household Finance and Consumption Survey

Arrondel, Luc - 2014

Using the first wave of the Eurosystem Household Finance and Consumption Survey (HFCS), a large micro-level dataset on households' balance sheets in 15 euro area countries, this paper explores how households allocate their assets. We derive stylised facts on asset participation as well as levels...

Persistent link: https://www.econbiz.de/10013049467

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 …-specific variables and the country factors. We find that both in Europe and the US labour mobility accounts for about 50% of the long run … adjustment to region-specific labour demand shocks and only a little more in the US than in Europe, where adjustment takes twice …

Persistent link: https://www.econbiz.de/10013025742

Comparing Fiscal Multipliers Across Models and Countries in Europe

Kilponen, Juha - 2015

This paper employs fifteen dynamic macroeconomic models maintained within the European System of Central Banks to assess the size of fiscal multipliers in European countries. Using a set of common simulations, we consider transitory and permanent shocks to government expenditures and different...

Persistent link: https://www.econbiz.de/10013026620

Assessing the Fiscal-Monetary Policy Mix in the Euro Area

Bańkowski, Krzysztof; Christoffel, Kai Philipp; Faria, … - 2021

This paper attempts to gauge the effects of various fiscal and monetary policy rules on macroeconomic outcomes in the euro area. It consists of two major parts – a historical assessment and an assessment based on an extended scenario until 2030 – and it builds on the ECB-BASE –a...

Persistent link: https://www.econbiz.de/10013312080

Revenue versus Spending-Based Consolidation Plans : The Role of Follow-Up

Beetsma, Roel M. W. J.; Furtuna, Oana; Giuliodori, Massimo - 2021

The literature on fiscal multipliers finds that spending-based fiscal consolidations tend to have more benign macro-economic consequences than revenue-based consolidations. By directly comparing expost data with consolidation plans, we present evidence of a systematically weaker follow-up of...

Persistent link: https://www.econbiz.de/10013315403

Is Forecasting with Large Models Informative? Assessing the Role of Judgement in Macroeconomic Forecasts

Mestre, Ricardo; McAdam, Peter - 2021

We evaluate residual projection strategies in the context of a large-scale macro model of the euro area and smaller benchmark time-series models. The exercises attempt to measure the accuracy of model-based forecasts simulated both out-of-sample and in-sample. Both exercises incorporate...

Persistent link: https://www.econbiz.de/10013316469

1
2
3
4
5
6
7
8
9
10
Next
Last