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Real Wage Cyclicality in the Eurozone Before and During the Great Recession : Evidence from Micro Data
Verdugo, Gregory - 2015
We study the response of real wages to the business cycle in eight major Eurozone countries before and during the Great …
Persistent link: https://www.econbiz.de/10013012041
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A Phillips Curve for the Euro Area
Ball, Laurence M. - 2019
This paper asks whether a textbook Phillips curve can explain the behavior of core inflation in the euro area. A critical feature of the analysis is that we measure core inflation with the weighted median of industry inflation rates, which is less volatile than the common measure of inflation...
Persistent link: https://www.econbiz.de/10012480393
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MPC Heterogeneity in Europe : Sources and Policy Implications
Ampudia, Miguel - 2018
This paper studies household financial choices in four euro area countries. The goal of the analysis is to understand the sources of the differences in these choices and their implications for the impact of monetary policy on consumption. The estimation of key parameters uses a simulated method...
Persistent link: https://www.econbiz.de/10012480733
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Exchange-Rate Pass-Through to Import Prices in the Euro Area
Campa, José Manuel - 2005
This paper presents an empirical analysis of transmission rates from exchange rate movements to import prices, across countries and product categories, in the euro area over the last fifteen years. Our results show that the transmission of exchange rate changes to import prices in the short run...
Persistent link: https://www.econbiz.de/10012467045
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Conditional PPP and Real Exchange Rate Convergence in the Euro Area
Bergin, Paul R. - 2016
While economic theory highlights the usefulness of flexible exchange rates in promoting adjustment in international relative prices, flexible exchange rates also can be a source of destabilizing shocks. We find that when countries joining the euro currency union abandoned their national exchange...
Persistent link: https://www.econbiz.de/10012456694
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Interest Rate Bands of Inaction and Play-Hysteresis in Domestic Investment : Evidence for the Euro Area
Belke, Ansgar Hubertus - 2019
The interest rate represents an important monetary policy tool to steer investment in order to reach price stability. Therefore, implications of the exact form and magnitude of the interest rate-investment nexus for the European Central Bank's effectiveness in a low interest rate environment...
Persistent link: https://www.econbiz.de/10012863789
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Productivity Premia for German Manufacturing Firms Exporting to the Euro-Area and Beyond : First Evidence from Robust Fixed Effects Estimations
Verardi, Vincenzo - 2010
estimates of the productivity premium of German firms exporting to the Euro-zone and beyond, controlling for unobserved time … invariant firm specific effects, and tests for self-selection of more productive firms into exporting beyond the Euro-zone. (3 … Euro-zone only is no longer much smaller that the premium of firms that export beyond the Euro-zone, too, and the premium …
Persistent link: https://www.econbiz.de/10013141754
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Enlarging the EMU to the East : What Effects on Trade?
Belke, Ansgar Hubertus; Spies, Julia - 2021
The purpose of this paper is to assess the implications of the Economic and Monetary Union (EMU) accession of eight Central and Eastern European Countries (CEECs) on their share in EMU-12 imports. Overcoming biases related to endogeneity, omitted variables and sample selection, our results...
Persistent link: https://www.econbiz.de/10013325027
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The Weight of the Crisis : Evidence from Newborns in Argentina
Bozzoli, Carlos - 2010
Argentina hit headlines around the world in 2002 on account of the largest debt default in history and a sudden economic collapse that generated statistics reminiscent of those from the Great Depression. In this article we focus on other consequences of the crisis that are not so obvious but...
Persistent link: https://www.econbiz.de/10013136302
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Business Cycle Effects of Credit and Technology Shocks in a DSGE Model with Firm Defaults
Pesaran, M. Hashem - 2011
This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle dynamics, where firms rely on banks and households for capital financing. Firms are identical ex ante but differ ex post due to different realizations of firm specific technology...
Persistent link: https://www.econbiz.de/10013119292