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The role of fiscal policies for external imbalances : evidence from the European Union

Afonso, António; Coelho, José Carlos - 2021

two deficits is asymmetric and the negative impact of the recent Eurozone banking and sovereign debt crisis on the current … positive impact of the budget balance on the current account balance is higher in the cases of non-Eurozone countries, high … budget deficit countries, and low exports countries, whereas it is lower in the cases of Eurozone countries, low budget …

Persistent link: https://www.econbiz.de/10012504606

The existential trilemma of EMU in a model of fiscal target zone

Della Posta, Pompeo; Tamborini, Roberto - 2021

The lesson of the sovereign debt crises of the 2010s, and of the outbreak of the COVID-19 pandemic is that EMU irreversibility, if not to remain a wishful statement in the founding treaties, necessitates to be completed by carefully designed ramparts for extraordinary times beside regulations...

Persistent link: https://www.econbiz.de/10012595366

Effects of policy mix on European regional convergence

López-Bravo, Ignacio Sacristán; San Juan Mesonada, Carlos - 2022

This paper analyses the impact of the fiscal-monetary policy mix on the convergence on per capita income of the least developed regions (Objective 1) of the European Union (EU 28) during the implementation of the three European Structural and Investment Funds (ESIF) programmes between 2000 and...

Persistent link: https://www.econbiz.de/10014293976

Current account targeting hypothesis versus twin deficit hypothesis : the EMU experience of Portugal

Afonso, António; Coelho, José Carlos - 2021

We study the relationship between the government budget balance and the current account balance for Portugal, using quarterly data from 1999 to 2019. On the one hand, the causality tests find a unidirectional relation running from the current account balance to the government budget balance. On...

Persistent link: https://www.econbiz.de/10012595472

Sovereign debt crisis in Portugal and Spain

Afonso, António; Verdial, Nuno - 2020

into the Eurozone. We assessed the pricing of sovereign risk by performing an OLS/2SLS fixed effects panel analysis on a … pool of Eurozone countries and a SUR regression with Portugal and Spain covering the period 1999:11 until 2019:6. Our …. Specifically, market pricing of the Eurozone credit risk, liquidity risk and the risk appetite increased after the crisis and it …

Persistent link: https://www.econbiz.de/10012164218

Survey-based structural budget balances

Göttert, Marcell; Wollmershäuser, Timo - 2021

The budget dispute between Italy and the European Commission in 2018 gave new impetus for the debate about the reliability of output gap estimation methods and their use for calculating structural budget balances. In this paper we review the main properties of the mainstream approaches and...

Persistent link: https://www.econbiz.de/10012504787

European structural and investment funds and regional convergence : the impact of public deficit in beta-convergence

San Juan Mesonada, Carlos; Sunyer Manteiga, Carlos - 2020

. Possible use in the Eurozone of the future Crisis Fund of the multiannual budget 2021-27. The level of indebtedness in the …

Persistent link: https://www.econbiz.de/10012233037

Calamities, common interests, shared identity : what shapes altruism and reciprocity?

Aksoy, Cevat Giray; Cabrales, Antonio; Dolls, Mathias; … - 2021

We conduct a large-scale survey experiment in nine European countries to study how priming a major crisis (COVID-19), common economic interests, and a shared identity inﬂuences altruism, reciprocity and trust of EU citizens. We ﬁnd that priming the COVID-19 pandemic increases altruism and...

Persistent link: https://www.econbiz.de/10012595338

CO2 emissions and energy technologies in Western Europe

Barrera-Santana, J.; Marrero, Gustavo A.; Puch, Luis; … - 2021

In this paper we investigate the path to the green transition in Europe. In so doing, we implement an empirical model of dynamic panel data on a sample of sixteen Western European countries over the period 1980 to 2019. The model is consistent with various features of neo-classical growth theory...

Persistent link: https://www.econbiz.de/10012595347

European structural funds and resilient and recovery facility governance

San Juan Mesonada, Carlos; Sunyer Manteiga, Carlos - 2021

The paper attempts to recover empirical evidence related to the European Structural and Investment Funds (ESIF) to promote growth for the management of the Recovery & Resilience Facility (RRF). We analyse the impact of the EU Cohesion Policy on regional development over the period 1986-2018,...

Persistent link: https://www.econbiz.de/10012595454