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Short-Term Forecasts of Euro Area Real GDP Growth : An Assessment of Real-Time Performance Based on Vintage Data
Diron, Marie - 2021
Economic policy makers, international organisations and private-sector forecasters commonly use short-term forecasts of real GDP growth based on monthly indicators, such as industrial production, retail sales and confidence surveys. An assessment of the reliability of such tools and of the...
Persistent link: https://www.econbiz.de/10013317625
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Forecasting ECB Monetary Policy : Accuracy is (Still) a Matter of Geography
Ehrmann, Michael; Fratzscher, Marcel; Berger, Helge - 2021
Monetary policy in the euro area is conducted within a multi-country, multicultural, and multi-lingual context involving multiple central banking traditions. How does this heterogeneity affect the ability of economic agents to understand and to anticipate monetary policy by the ECB? Using a...
Persistent link: https://www.econbiz.de/10013318108
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Price, Wage and Employment Response to Shocks : Evidence from the WDN Survey
Bertola, Giuseppe - 2011
intensity of competition in firms' product markets, on the importance of collective wage bargaining and on other structural and …
Persistent link: https://www.econbiz.de/10013133770
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Interbank Market Integration, Loan Rates, and Firm Leverage
Ongena, Steven - 2010
We study the effect of interbank market integration on small firm finance in the build-up to the 2007-2008 financial crisis. We use a comprehensive data set that contains contract terms on individual loans to 6,047 firms across 14 European countries between 1998:01 and 2005:12. We account for...
Persistent link: https://www.econbiz.de/10013137713
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The Impact of the ECB's Targeted Long-Term Refinancing Operations on Banks’ Lending Policies : The Role of Competition
Andreeva, Desislava - 2020
We assess the impact of the Eurosystem's Targeted Long-Term Refinancing Operations (TLTROs) on the lending policies of euro area banks. We first build a theoretical model in which banks compete in the credit and deposit markets. We distinguish between direct and indirect effects. Direct effects...
Persistent link: https://www.econbiz.de/10012844182
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Trade in Value Added : Do We Need New Measures of Competitiveness?
Lommatzsch, Kirsten - 2016
It has been argued that the increasing importance of global value chains necessitates a modification of conventional competitiveness measures. We compile a broad dataset including value added trade, gross exports and conventional and value added based real exchange rates. To sharply focus on...
Persistent link: https://www.econbiz.de/10012985331
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Deeper, Wider and More Competitive? Monetary Integration, Eastern Enlargement and Competitiveness in the European Union
Ottaviano, Gianmarco I.P; Taglioni, Daria; di Mauro, Filippo - 2021
competition drives less productive firms out the market, thereby increasing average productivity as well as reducing average …
Persistent link: https://www.econbiz.de/10013316662
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A New Approach to Measuring Competition in the Loan Markets of the Euro Area
van Leuvensteijn, Michiel; Bikker, Jacob Antoon; van … - 2021
This paper is the first that applies a new measure of competition, the Boone indicator, to the banking industry. This … approach is able to measure competition of bank market segments, such as the loan market, whereas many well - known measures of … competition can consider the entire banking market only. A caveat of the Boone - indicator may be that it assumes that banks …
Persistent link: https://www.econbiz.de/10013317045
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Payment Scale Economies, Competition, and Pricing
Humphrey, David B. - 2010
Payment scale economies affect banking costs, competition in payment services, and pricing. Our scale measure relates … are primarily due to mix, not scale. Also, since standard indicators of competition can give inconsistent results, a …. Existing differences in bank prices (EC report) are associated with small differences in competition …
Persistent link: https://www.econbiz.de/10013149843
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The Impact of Extreme Weather Events on Budget Balances and Implications for Fiscal Policy
Lis, Eliza M. - 2009
This paper explores implications of climate change for fiscal policy by assessing the impact of large scale extreme weather events on changes in public budgets. We apply alternative measures for large scale extreme weather events and conclude that the budgetary impact of such events ranges...
Persistent link: https://www.econbiz.de/10013159926