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A simple post-crisis EMU Phillips Curve : implications for monetary policy
Hennecke, Peter - In: Intereconomics : review of European economic policy 53 (2018) 6, pp. 333-336
The persistently low wage and price growth in the EMU after the Great Recession of 2009 led some economic observers to … EMU member states after the Great Recession to investigate whether these claims are corroborated by empirical evidence …. The results point to the conclusion that the Phillips Curve is alive and well in the EMU and centred at or only slightly …
Persistent link: https://www.econbiz.de/10011987417
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The trilemma of a monetary union : another impossible trinity
Beck, Hanno; Prinz, Aloys - In: Intereconomics : review of European economic policy 47 (2012) 1, pp. 39-43
Persistent link: https://www.econbiz.de/10009490521
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Pushing the limit? : fiscal policy in the European Monetary Union
Daniel, Betty Carolyn; Shiamptanis, Christos - In: Journal of economic dynamics & control 37 (2013) 11, pp. 2307-2321
Persistent link: https://www.econbiz.de/10010196884
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The trilemma of a monetary union : another impossible trinity
Beck, Hanno; Prinz, Aloys - In: Intereconomics : review of European economic policy 47 (2012) 1, pp. 39-43
three concurrently will ultimately end in failure. In order to save EMU, one of these three must be abandoned. …
Persistent link: https://www.econbiz.de/10009686816
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Policy rules in the economic and monetary union
Herzog, Bodo; Choi, Minjae - In: Intereconomics : review of European economic policy 52 (2017) 1, pp. 51-56
Persistent link: https://www.econbiz.de/10011594080
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The negative mean output gap
Aiyar, Shekhar; Voigts, Simon - 2019
We argue that in an economy with downward nominal wage rigidity, the output gap is negative on average. Because it is more difficult to cut wages than to increase them, firms reduce employment more during downturns than they increase employment during expansions. This is demonstrated in a simple...
Persistent link: https://www.econbiz.de/10012103632
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How informative are real time output gap estimates in Europe?
Kangur, Alvar; Kirabaeva, Koralai; Natal, Jean-Marc; … - 2019
We study the properties of the IMF-WEO estimates of real-time output gaps for countries in the euro area as well as the determinants of their revisions over 1994-2017. The analysis shows that staff typically saw economies as operating below their potential. In real time, output gaps tend to have...
Persistent link: https://www.econbiz.de/10012103755
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Large-scale bond purchases in a currency union with segmentation in the market for government debt
Tischbirek, Andreas - In: Journal of economic dynamics & control 95 (2018), pp. 37-69
Persistent link: https://www.econbiz.de/10012004904
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Debt and stabilization policy : evidence from a Euro Area FAVAR
Jackson, Laura; Owyang, Michael T.; Zubairy, Sarah - In: Journal of economic dynamics & control 93 (2018), pp. 67-91
Persistent link: https://www.econbiz.de/10011974466
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Unravelling the roots of the EMU crisis : structural divides, uneven recoveries and possible ways out
Celi, Giuseppe; Guarascio, Dario; Simonazzi, Annamaria - In: Intereconomics : review of European economic policy 54 (2019) 1, pp. 23-30
The process of European integration can be described as the increasing interdependence between economies at different levels of development and with different productive capabilities. It evolved from a pre-eminently political project to a ‘de-politicised’ management based on the automatism...
Persistent link: https://www.econbiz.de/10011987558