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The redistributive function of the EU budget

Pasimeni, Paolo; Riso, Stéphani - 2016

This paper measures the net redistributive impact of the EU budget. It finds that for every € 1,000 difference in income per capita across countries, € 9 is offset by lower contributions to the budget and € 3 is offset by higher expenditures by the budget. The overall equalising effect is...

Persistent link: https://www.econbiz.de/10011662289

Asset Price Bubbles and Monetary Policy: Why Central Banks Have Been Wrong and What Should Be Done

Palley, Thomas I. - 2008

Over the last several years debate over monetary policy has focused on two issues, inflation targeting and asset price bubbles. This paper explores the case for explicitly targeting asset price bubbles, a policy that the Federal Reserve Bank has opposed on the grounds that it is both infeasible...

Persistent link: https://www.econbiz.de/10010460462

Monetary policy and commodity price shocks

Tober, Silke; Zimmermann, Tobias - 2008

This paper analyses the effects of commodity price shocks in a new Keynesian model. The focus is on the central bank's choice of inflation target and the degree of real wage rigidity. It turns out that using core inflation rather than headline inflation is the superior strategy. Targeting...

Persistent link: https://www.econbiz.de/10010460469

Squaring the circle in Euroland? Some remarks on the Stability and Convergence Programmes 2010-2013

van Treeck, Till; Tober, Silke; Truger, Achim; Brecht, … - 2010

It is generally held, from both a global and a European perspective, that the three most impor-tant objectives for the years to come are 1) the reduction of current account imbalances, 2) the reduction of public deficits, and 3) the reduction of unemployment. This paper argues that the Stability...

Persistent link: https://www.econbiz.de/10010460487

Driving forces behind the sectoral wage costs differentials in Europe

Logeay, Camille; Stephan, Sabine; Zwiener, Rudolf - 2011

In 2004, Eurostat starts publishing new figures on hourly wage costs for all European countries. These figures are new in several respects: It is the first time that internationally comparable hourly figures on wage costs are available covering a quite important time period (1995-2005), so that...

Persistent link: https://www.econbiz.de/10010460509

Das hohe Risiko von Fremdwährungsanleihen

Grabau, Maik; Joebges, Heike - 2012

Häufig wird angenommen, Deutschland und andere von demographischen Problemen betroffene Industrieländer könnten Finanzierungsprobleme der Rentenversicherung durch eine stärkere Kapitaldeckung inklusive Anlage dieses Kapitals im Ausland abmildern. Neben der Annahme, dass die Rendite bei...

Persistent link: https://www.econbiz.de/10010460519

Extensive versus intensive margin over the business cycle: New evidence for Germany and the United States

Herzog-Stein, Alexander; Nüß, Patrick - 2016

den USA. Frühere Untersuchungen haben gezeigt, dass die extensive Margin dominiert und, dass, zweitens, in beiden Ländern … der extensiven und der intensiven Margin in den USA im zeitlichen Verlauf relativ stabil ist, variiert deren relative … den USA. Allerdings hängt ihre tatsächliche quantitative Bedeutung in erheblichem Umfang von der Wahl des …

Persistent link: https://www.econbiz.de/10011522243

Financialization: What it is and Why it Matters

Palley, Thomas I. - 2008

Financialization is a process whereby financial markets, financial institutions and financial elites gain greater influence over economic policy and economic outcomes. Financialization transforms the functioning of economic system at both the macro and micro levels. Its principal impacts are to...

Persistent link: https://www.econbiz.de/10010460461

Distribution, aggregate demand and productivity growth - theory and empirical results for six OECD countries based on a Post-Kaleckian model

Hein, Eckhard; Tarassow, Artur - 2008

Empirical research based on the Bhaduri/Marglin-variant of the Kaleckian model has recently shown that aggregate demand in many medium-sized and large open economies tends to be wage-led in the medium to long run, even in a period of increasing globalisation. In this paper we extend this type of...

Persistent link: https://www.econbiz.de/10010460467

Financialization and the rentier income share - evidence from the USA and Germany

Dünhaupt, Petra - 2010

share of income in the USA and Germany, respectively. If financialization is indeed responsible for the decline, rentiers …

Persistent link: https://www.econbiz.de/10010460485