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Globalization has affected business cycle developments in OECD countries and has increased activities of firms across national borders. This paper analyzes whether these two developments are linked. We use a new firm-level dataset on the foreign activities of German firms to test whether foreign...
Persistent link: https://www.econbiz.de/10010260529
into monitoring euro area wage dynamics and which appears to treat some of the other labor market information as less …In this paper, we explore the role of labor markets for monetary policy in the euro area in a New Keynesian model in … labor market would alter the business cycle behavior and the transmission of monetary policy. We find that while a lower …
Persistent link: https://www.econbiz.de/10010265230
Developing Countries have been particularly worried by the single-market-program since the EC absorbs more than a third … market. With the exception of agricultural economies specialized on specific products, the net welfare effect of EC-1992 will …
Persistent link: https://www.econbiz.de/10010265299
Pending EU widening to the East has revived concerns in Lalin America that Europe may become more inward-looking. However, booming trade and foreign direct investment (FDI) relations between current EU members and Central and Eastern European countries (CEECs) are unlikely to harm I^itin...
Persistent link: https://www.econbiz.de/10010265342
Recent evidence suggests that regional economic integration provides an important stimulus not only to trade, but also to FDI. In contrast, the available theory on FDI does not yet provide empirically testable propositions on the effects of concurrent trade and investment liberalisation....
Persistent link: https://www.econbiz.de/10010265368
The analysis of Baltic regional trade patterns reveals that during the nineties the Baltic states made significant progress to integrate into the Western European division of labour although a significant share of (transit) trade with Russia remained. In view of this development, history seems...
Persistent link: https://www.econbiz.de/10010265516
common market which pays particular attention to close trade relations with their immediate neighbours in the Baltic Sea …
Persistent link: https://www.econbiz.de/10010273120
This paper outlines a simple regression-based method to decompose the variance of an aggregate time series into the variance of its components, which is then applied to measure the relative contributions of productivity, hours per worker, and employment to cyclical output growth across a panel...
Persistent link: https://www.econbiz.de/10010274432
Persistent link: https://www.econbiz.de/10010275173
The paper presents some stylized facts of Euroland's business cycle using aggregated data. The main results are: The determination of turning points in Euroland's business cycle is not very sensitive to the detrending method used, although the level of the recent output gap depends on it....
Persistent link: https://www.econbiz.de/10010275493