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France, Germany, Italy, and the United Kingdom during the period of the Stability and Growth Pact (SGP). Our findings …'s and market experts’ deficit forecasts also increased in France, Italy, and the United Kingdom, particularly during the … indicate that accuracy of financial expert deficit forecasts increased in France. Convergence between the European Commission …
Persistent link: https://www.econbiz.de/10014412192
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This paper compiles the Intertemporal Public Sector Balance Sheets for all G7 countries and examines their relationship with government borrowing costs. In 2018, all G7 countries have negative Intertemporal Net Financial Worth (INFW), falling short of their intertemporal budget constraint. A...
Persistent link: https://www.econbiz.de/10012613501
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
survey forecasts for France, Italy and the United Kingdom between January 1993 and October 2014, we test whether respondents …
Persistent link: https://www.econbiz.de/10011711356
High household wealth is often cited as a key strength of the Italian economy. Both in absolute terms and relative to income, the Italian household sector is wealthier than most euro area peers. A sizable fraction of this wealth is held by the rich and upper middle classes. This paper documents...
Persistent link: https://www.econbiz.de/10011905929
This paper builds a model-based dynamic monetary and fiscal conditions index (DMFCI) and uses it to examine the evolution of the joint stance of monetary and fiscal policies in the euro area (EA) and in its three largest member countries over the period 2007-2018. The index is based on the...
Persistent link: https://www.econbiz.de/10012251959
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
impact on the economy. I analyze household data for Italy and the United Kingdom, countries that differ dramatically in their … constraints only in Italy and habit formation exclusively in the United Kingdom …
Persistent link: https://www.econbiz.de/10014399777