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Southern African economic integration: evidence from an augmented gravity model
Warin, Thierry; Wunnava, Phanindra V.; Tengia, Optat; … - 2009
This paper investigates the feasibility of creating a common-currency union consisting of 16 countries in Southern Africa. We estimate an augmented-gravity model that includes public deficit, public debt, public expenditure, inflation, and the foreign reserves position. We also integrate...
Persistent link: https://www.econbiz.de/10010269429
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Asymmetric labor market institutions in the EMU and the volatility of inflation and unemployment differentials
Abbritti, Mirko; Mueller, Andreas I. - 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/10010282566
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Testing mundell's intuition of endogenous OCA theory
Warin, Thierry; Wunnava, Phanindra V.; Janicki, Hubert P. - 2008
This paper presents an empirical assessment of the endogenous optimum currency area theory. Frankel and Rose (1998 …'s model by using FDI flows to test the original theory developed by Mundell in 1973. A gravity model is used to empirically …
Persistent link: https://www.econbiz.de/10010268540
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Southern African Economic Integration: Evidence from an Augmented Gravity Model
Warin, Thierry; Wunnava, Phanindra V.; Tengia, Optat; … - Institute for the Study of Labor (IZA) - 2009
This paper investigates the feasibility of creating a common-currency union consisting of 16 countries in Southern Africa. We estimate an augmented-gravity model that includes public deficit, public debt, public expenditure, inflation, and the foreign reserves position. We also integrate...
Persistent link: https://www.econbiz.de/10004976903
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Completing the Monetary Union of Europe as Mid-term Solution of the Euro Crisis
Fischer, Justina A.V.; Pastore, Francesco - 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/10011307457
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Some Thoughts on Macroeconomic Fluctuations and the Timing of Labor Market Reform
Saint-Paul, Gilles - 2002
n this paper, I analyze the pros and cons of implementing structural reforms of the labor market in booms vs. recessions, in light of considerations of social efficiency, political viability, and macroeconomic fine tuning. While the optimal timing of a reform depends on the relative importance...
Persistent link: https://www.econbiz.de/10010262615
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Are the East African Community's Countries Ready for a Common Currency?
Kigabo-Rusuhuzwa, Thomas; Heshmati, Almas - 2022
This paper investigates the East African Community (EAC) partner states' readiness for a common currency. It uses recent data to assess the impact of policy coordination in the region during the last seven years of East African Monetary Union's protocol implementation. Despite some similarities...
Persistent link: https://www.econbiz.de/10013351749
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Some Thoughts on Macroeconomic Fluctuations and the Timing of Labor Market Reform
Saint-Paul, Gilles - Institute for the Study of Labor (IZA) - 2002
In this paper, I analyze the pros and cons of implementing structural reforms of the labor market in booms vs. recessions, in light of considerations of social efficiency, political viability, and macroeconomic fine tuning. While the optimal timing of a reform depends on the relative importance...
Persistent link: https://www.econbiz.de/10005761804
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Current Emotion Research in Economics
Wälde, Klaus; Moors, Agnes - 2016
Positive and negative feelings were central to the development of economics, especially in utility theory in classical … economics. While neoclassical utility theory ignored feelings, behavioral economics more recently reintroduced feelings in … utility theory. Beyond feelings, economic theorists use full-fledged specific emotions to explain behavior that otherwise …
Persistent link: https://www.econbiz.de/10011559689
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Neighbourhood effects research at a crossroads: Ten challenges for future research
van Ham, Maarten; Manley, David - 2012
Neighbourhood effects research is at a crossroads since current theoretical and empirical approaches do not seem to be moving the debate forward. In this paper, we present a set of ten challenges as a basis for a new research agenda which will give new direction to the neighbourhood effects...
Persistent link: https://www.econbiz.de/10010287697