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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

Oil Price Shocks, Monetary Policy and Current Account Imbalances within a Currency Union

Baas, Timo - 2018

For more than two decades now, current-account imbalances are a crucial issue in the international policy debate as … that internal current account imbalances inside a currency union may also add to these risks. Oil price fluctuations and a … the currency union by changing internal imbalances. Therefore, in this paper, we analyze the impact of oil price shocks on …

Persistent link: https://www.econbiz.de/10012930946

On the Relationship between Public and Private Investment in the Euro Area

Dreger, Christian - 2014

This paper explores the long run relationship between public and private investment in the euro area in terms of capital stocks and gross investment flows. Panel techniques ac-counting for international spillovers are employed. While private and public capital stocks are cointegrated, the...

Persistent link: https://www.econbiz.de/10013057463

Completing the Monetary Union of Europe as Mid-Term Solution of the Euro Crisis

Fischer, Justina A. V. - 2015

This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the social and political costs of a GREXIT, but also of a continuing austerity policy. It proposes a reform policy fostering growth in Greece and discusses the role of conditionality....

Persistent link: https://www.econbiz.de/10013016262

The European Youth Guarantee : Labor Market Context, Conditions and Opportunities in Italy

Pastore, Francesco - 2015

This essay aims to discuss the conditions for a successful implementation of the European Youth Guarantee in Italy. In …

Persistent link: https://www.econbiz.de/10013025302

Populism, Political Risk and the Economy : Lessons from Italy

Balduzzi, Pierluigi - 2020

policy announcements in Italy during the 2013-2019 period that saw the rise to power of populist parties. We focus on events … international spillover effects on the spreads of some other euro-zone countries. Finally, political risk shocks have a negative …

Persistent link: https://www.econbiz.de/10012842058

Asymmetric Labor Market Institutions in the Emu and the Volatility of Inflation and Unemployment Differentials

Abbritti, Mirko - 2012

How does the asymmetry of labor market institutions affect the adjustment of a currency union to shocks? To answer this question, this paper sets up a dynamic currency union model with monopolistic competition and sticky prices, hiring frictions and real wage rigidities. In our analysis, we...

Persistent link: https://www.econbiz.de/10013107467

The Role of the Exchange Rate Regime in the Process of Real and Nominal Convergence

D'Adamo, Gaetano - 2013

During the last decade, economists have intensively searched for evidence on the importance of the Balassa-Samuelson (B-S) hypothesis in explaining nominal convergence. One general result is that B-S can at best explain only part of the excess inflation observed in the European catching-up...

Persistent link: https://www.econbiz.de/10013074886

External Monetary Shocks and Monetary Integration : Evidence from the Bulgarian Currency Board

Minea, Alexandru; Rault, Christophe - 2021

Starting July the 1st 1997, Bulgaria adopted a Currency Board (CB) monetary system. This paper aims at investigating if the adoption of the CB monetary system, which involves the cost of loosing monetary autonomy, has provided a relatively better (with respect to other CEEC) monetary integration...

Persistent link: https://www.econbiz.de/10013315999

Rent Taxation in a Small Open Economy:The Effect on Transitional Generations

Köthenbürger, Marko; Poutvaara, Panu - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2007

We show that taxation of rents may yield an intergenerational Pareto-improvement in a smallopen economy provided tax revenues are earmarked to reduce wage taxes...

Persistent link: https://www.econbiz.de/10005863334

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