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Transmission of Financial Stress in Europe : The Pivotal Role of Italy and Spain, But Not Greece

González-Hermosillo, Brenda - 2014

Germany, Greece, Ireland, Italy, Spain and Portugal. The stability ofGermany is a close proxy for the resilience of the euro … during 2009–12 were due toidiosyncratic factors, market developments in Italy and Spain contributed significantly, likely due …'s sovereign CDS despite initial widespread concerns about such linkages. Spain and Italy show anotable co-dependence in explaining …

Persistent link: https://www.econbiz.de/10013053040

Exiting from Lockdowns : Early Evidence from Reopenings in Europe

Franks, Jeffrey R.; Gruss, Bertrand; Mulas Granados, Carlos - 2021

European authorities introduced stringent lockdown measures in early 2020 to reduce the transmission of COVID-19. As the first wave of infection curves flattened and the outbreak appeared controlled, most countries started to reopen their economies albeit using diverse strategies. This paper...

Persistent link: https://www.econbiz.de/10013314836

Cross-Country Spillovers of Fiscal Consolidations in the Euro Area

Poghosyan, Tigran - 2017

This paper revisits the issue of cross-country spillovers from fiscal consolidations using an innovative empirical methodology. We find evidence in support of fiscal spillovers in 10 euro area countries. Fiscal consolidation in one country not only reduces domestic output (direct effect), but...

Persistent link: https://www.econbiz.de/10012950411

Monetary and Macroprudential Policy in an Estimated DSGE Model of the Euro Area

Quint, Dominic - 2013

In this paper, we study the optimal mix of monetary and macroprudential policies in an estimated two-country model of the euro area. The model includes real, nominal and financial frictions, and hence both monetary and macroprudential policy can play a role. Wefind that the introduction of a...

Persistent link: https://www.econbiz.de/10013073679

Is Military Spending Converging Across Countries? An Examination of Trends and Key Determinants

Clements, Benedict - 2019

This paper studies the evolution of worldwide military spending during 1970-2018. It finds thatmilitary spending in relation to GDP is converging, but into three separate groups of countries. Inthe largest group, responsible for 90 percent of worldwide spending, outlays have remainedstubbornly...

Persistent link: https://www.econbiz.de/10012859871

Structural Funds and the 1992 Program in the European Community

Gordon, James P. - 2013

Equity and efficiency justifications are found for the Community`s Structural Funds which are discovered to be carefully targeted at depressed regions, albeit with some horizontal inequities. If Fund transfers displace national assistance, then they may be misallocated by being tied to regional...

Persistent link: https://www.econbiz.de/10012754384

Productivity Growth and Structural Reform in Bulgaria : Restarting the Convergence Engine

Mitra, Pritha - 2012

Labor productivity levels in Bulgaria lag well behind that in the EU, weighing on the convergence process. Stronger productivity growth would allow Bulgaria to close the income gap with the EU average more quickly and to alleviate the structural problems in its labor market, reflected in its...

Persistent link: https://www.econbiz.de/10013102273

Economic Convergence in the Euro Area : Coming Together or Drifting Apart?

Franks, Jeffrey R. - 2018

We examine economic convergence among euro area countries on multiple dimensions. While there was nominal convergence of inflation and interest rates, real convergence of per capita income levels has not occurred among the original euro area members since the advent of the common currency....

Persistent link: https://www.econbiz.de/10012928017

The Lack of Convergence of Latin-America Compared with Cesee : Is Low Investment to Blame?

Bakker, Bas Berend - 2020

In the last few decades there has been little convergence of income levels in Latin America with those in the United States, in sharp contrast with both emerging Asia and emerging Europe. This paper argues that lack of convergence was not the result of low investment. Latin America is poorer...

Persistent link: https://www.econbiz.de/10012828058

Legal Gender Equality as a Catalyst for Convergence

Sever, Can - 2022

The unequal treatment of women in the law is one of the most visible forms of gender inequality. Prevalent legal constraints on the basis of gender prevent women, and thereby economies, from reaching their true potential. In this regard, this paper (i) documents the evolution of gender...

Persistent link: https://www.econbiz.de/10014079014

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