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Fiscal Expectations Under the Stability and Growth Pact : Evidence From Survey Data

Poplawski-Ribeiro, Marcos - 2011

France, Germany, Italy, and the United Kingdom during the period of the Stability and Growth Pact (SGP). Our findings … indicate that accuracy of financial expert deficit forecasts increased in France. Convergence between the European Commission …'s and market experts’ deficit forecasts also increased in France, Italy, and the United Kingdom, particularly during the …

Persistent link: https://www.econbiz.de/10014412192

European Fiscal Harmonization and the French Economy

Perraudin, W. R. M. - 1990

This paper examines the implications of European fiscal harmonization for the French economy using a general equilibrium model. The latter extends the overlapping generations simulation model of Auerbach and Kotlikoff in three ways. A well-developed external sector is included. Households face...

Persistent link: https://www.econbiz.de/10014395833

Asymmetry in the ERM : A Case Study of French and German Interest Rates Since Basle-Nyborg

Perraudin, W. R. M. - 1992

We study empirically daily French and German interest rate changes since the Basle-Nyborg agreement of September 1987. In particular, we ask whether the shock associated with German unification altered the degree of leadership of German monetary policy in the ERM. We conclude that Germany’s...

Persistent link: https://www.econbiz.de/10014395835

ERM Money Supplies and the Transition to EMU

Masson, Paul R. - 1994

France and Germany separately. Second, the predictive power of the core-ERM aggregate relative to French and German inflation …

Persistent link: https://www.econbiz.de/10014398759

Productivity growth and value chains in four European countries

Karpowicz, Izabela; Suphaphiphat, Nujin - 2020

Advanced economies have been witnessing a pronounced slowdown of productivity growth since the global financial crisis that is accompanied in recent years by a withdrawal from trade integration processes. We study the determinants of productivity slowdown over the past two decades in four...

Persistent link: https://www.econbiz.de/10012170132

The Role of Country Concentration in the International Portfolio Investment Positions for the European Union Members

Brushko, Iuliia - 2014

This paper examines the international portfolio flows of European Union. Our analysis includes three dimensions: (1) the level of countries' portfolio investment concentration (those who invest evenly among counterparties versus those who invest more heavily in some counterparties); (2) the...

Persistent link: https://www.econbiz.de/10014411215

SMEs’ Access to Finance in the Euro Area : What Helps or Hampers?

Öztürk, Bahar - 2014

The monetary transmission mechanism in the euro area has been adversely affected by the recent crises. Using survey data on thousands of euro area firms, we study factors that affect the access to finance of SMEs. We find that changes in bank funding costs and borrower leverage matter for...

Persistent link: https://www.econbiz.de/10014411219

European Productivity, Innovation and Competitiveness : The Case of Italy

Tiffin, Andrew - 2014

In Italy, price-based competitiveness measures are not always an accurate predictor of trade outcomes. This paper offers a more comprehensive assessment of Italian competitiveness, focusing on the role of innovation and the evolution of Italy’s export market share. Overall, Italy maintains a...

Persistent link: https://www.econbiz.de/10014411220

Regional Labor Market Adjustments in the United States and Europe

Dao, Mai - 2014

We examine patterns of regional adjustments to shocks in the US during the past 40 years. Using state-level data, we estimate the dynamic response of regional employment, unemployment, participation rates and net migration to state-relative labor demand shocks. We find that (i) the long-run...

Persistent link: https://www.econbiz.de/10014411406

Rebalancing in the Euro Area and Cyclicality of Current Account Adjustments

Tressel, Thierry - 2014

The paper examines progress with the external rebalancing of euro area deficit countries. Relative prices are adjusting at different pace across countries and with different compositions of wage cuts and labor shedding. There is so far limited evidence of resource re-allocation from non-tradable...

Persistent link: https://www.econbiz.de/10014411479