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Interpreting EU Funds Data for Macroeconomic Analysis in the New Member States
Sierhej, Robert - 2007
Drawing on a dataset suitable for macroeconomic analysis, the paper provides an overview of the magnitudes, purpose and institutional implications of EU-related transfers to and from the new member states. A rough analysis of accounting identities and first-round effects shows that EU funds may...
Persistent link: https://www.econbiz.de/10014400132
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The fiscal multiplier of European Structural Investment Funds : aggregate and sectoral effects with an application to Slovenia
Durand, Luigi; Espinoza, Raphael - 2021
In this paper, we estimate the aggregate and sectoral fiscal multipliers of EU Structural Investment (ESI) Funds and of public investment at the EU level. We complement these results with a specific application to the case of Slovenia. We first analyze aggregate data and find large and...
Persistent link: https://www.econbiz.de/10012613691
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Structural Funds and the 1992 Program in the European Community
Gordon, James P. F. - 1991
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...
Persistent link: https://www.econbiz.de/10014397871
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Bank lobbying : regulatory capture and beyond
Igan, Deniz; Lambert, Thomas - 2019
In this paper, we discuss whether and how bank lobbying can lead to regulatory capture and have real consequences … through an overview of the motivations behind bank lobbying and of recent empirical evidence on the subject. Overall, the … interpreted as a call for an outright ban of lobbying, they point in the direction of a need for rethinking the framework …
Persistent link: https://www.econbiz.de/10012103556
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Macroeconomic Effects of EU Transfers in New Member States
International Monetary Fund - 2008
Large inflows from the European Union to the New Member States are likely to significantlyimpact macroeconomic outcomes. In this paper, we use the IMF''s Global Integrated Monetaryand Fiscal model (GIMF) to analyze the impact of the transfers and show the conditionsunder which they would help...
Persistent link: https://www.econbiz.de/10014401741
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The Relevance of Fiscal Conditions for the Success of European Monetary Integration
International Monetary Fund - 1989
The paper argues that international differences in fiscal conditions influence the relative attractiveness of locating production facilities in different countries and could prove to be a troublesome source of instability for the European economies. Even though physical capital movements tend to...
Persistent link: https://www.econbiz.de/10014396443
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Fiscal Federalism in Europe : Is it a Necessary Precondition for a Successful European Economic and Monetary Integration?
Berthold, Norbert - 1994
An important question in the process of European integration concerns the best institutional level for stabilization policies. The theory of fiscal federalism gives criteria for evaluating if fiscal stabilization policies should take place on a centralized or on a decentralized level. This paper...
Persistent link: https://www.econbiz.de/10014398092
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The impact of political uncertainty on asset prices : the case of United Kingdom's EU membership referendum
Hanna, Joseph; Hansen, Niels-Jakob Harbo; MacDonald, Margaux - 2021
How did expectations of the outcome of the United Kingdom's (UK) referendum on European Union (EU) membership in 2016 affect prices in financial markets? We study this using high frequency data from betting and financial markets. We find that a one percentage point increase in the probability of...
Persistent link: https://www.econbiz.de/10012517941
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How does taxation affect hours worked in EU new member states?
Velasquez, Agustin; Vtyurina, Svetlana - 2019
Hours worked vary widely across countries and over time. In this paper, we investigate the role played by taxation in explaining these differences for EU New Member States. By extending a standard growth model with novel data on consumption and labor taxes, we assess the evolution of trends in...
Persistent link: https://www.econbiz.de/10012102041
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Brexit referendum and business investment in the UK
Górnicka, Lucyna - 2018
In this paper I apply firm-level analysis to examine how the Brexit process has affected business investment in the UK. An interaction term of potential trade costs after exiting the EU and a measure of firms' participation in global trade is used as a proxy for firm-level exposure to...
Persistent link: https://www.econbiz.de/10011978381