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Fiscal Policy and Growth in the Context of European Integration
Masson, Paul R. - 2000
The paper considers the issue of whether a supranational fiscal policy in Europe is needed, and, if so, what responsibilities it should undertake. The literature on endogenous growth and the principle of subsidiarity suggest that such a policy should be limited to externalities or economies of...
Persistent link: https://www.econbiz.de/10014400046
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Real Implications of Financial Linkages Between Canada and the United States
Klyuev, Vladimir - 2008
This paper documents the extent of financial linkages between Canada and the United States and explores the impact of … changes in U.S. financial conditions on financial conditions and real economic activity in Canada. It shows that close to a … autoregressions establishes that a tightening in U.S. financial conditions has significant implications for real activity in Canada …
Persistent link: https://www.econbiz.de/10014401284
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Winner-Loser Reversals in National Stock Market Indices : Can they Be Explained?
Richards, Anthony J. - 1997
This paper examines possible explanations for “winner–loser reversals” in the national stock market indices of 16 countries. There is no evidence that loser countries are riskier than winner countries either in terms of standard deviations, covariance with the world market or other risk...
Persistent link: https://www.econbiz.de/10014403316
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Exchange Rate Fluctuations and Trade Flows : Evidence From the European Union
Dell'Ariccia, Giovanni - 1998
This paper analyzes the effects of exchange rate volatility on bilateral trade flows. Through use of a gravity model and panel data from western Europe, exchange rate uncertainty is found to have a negative effect on international trade. The results seem to be robust with respect to the...
Persistent link: https://www.econbiz.de/10014403368
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Apocalypse then : The Evolution of the North Atlantic Economy and the Global Crisis
Bui, Trung - 2011
The financial crisis, originated from the collapse of US housing markets in 2008, reverberates around the world. Its destructive force was felt nowhere more keenly than Western Europe. Indeed, it continues to mire in financial volatility as the debt problem contagiously spreads around the...
Persistent link: https://www.econbiz.de/10014398383
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Integration of Eastern Europe Into the World Trading System
Junz, Helen B. - 1991
The sheer size of mandated trade among members of the Council for Mutual Economic Assistance (CMEA), and its composition and quality, means that its reorientation toward other markets entails a whole complex of structural adjustment policies. To be successful, policy reform must be...
Persistent link: https://www.econbiz.de/10014396289
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The Euro’s Effecton Trade Imbalances
Berger, Helge - 2010
When does trade become a one-way relationship? We study bilateral trade balances for a sample of 18 European countries over the period from 1948 through 2008. We find that, with the introduction of the euro, trade imbalances among euro area members widened considerably, even after allowing for...
Persistent link: https://www.econbiz.de/10014397576
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Impacton Intra-European Trade Agreements, 1990-2005 : Policy Implications for the Western Balkans and Ukraine
Qiao, Zhaogang - 2007
The paper provides quantitative estimates of the impact of the European trade agreements on trade flows. It applies both static and dynamic panel estimation techniques. The results are useful to policymakers because new intra-European trade agreements are being negotiated. In the absence of a...
Persistent link: https://www.econbiz.de/10014400337
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Restructuring and insolvency in Europe : policy options in the implementation of the EU directive
Garrido, José María; DeLong, Chanda; Rasekh, Amira; … - 2021
The Directive on Restructuring and Insolvency sets minimum standards for restructuring and certain insolvency matters, but its harmonization effect will be limited given multiple options for implementation, likely leading to divergent restructuring models in Europe. These options reveal...
Persistent link: https://www.econbiz.de/10012612340
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Guaranteed minimum income schemes in Europe : landscape and design
Coady, David P.; Jahan, Samir; Matsumoto, Riki; Shang, … - 2021
This paper provides an overview of the design of means-tested Guaranteed Minimum Income schemes, which constitute an important component of social protection systems in European countries. It discusses how key design features differ across countries, including how countries balance the primary...
Persistent link: https://www.econbiz.de/10012605683