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Institutional constraints to political budget cycles in the enlarged EU

Ademmer, Esther; Dreher, Ferdinand - 2014

This paper revisits Political Budget Cycles (PBCs) in the enlarged European Union (EU). Based on a panel of 25 current … EU member states from 1996 to 2012, we show that governments frequently fiscally stimulate the economy prior to elections …; a phenomenon that is seemingly not only an ‘Eastern problem’ of the EU’s new members, as has been suggested in the …

Persistent link: https://www.econbiz.de/10010416670

European economic integration in econometric modelling : concepts, measures and illustration

Krieger-Boden, Christiane; Soltwedel, Rüdiger - 2010

Processes of regional economic integration have been shaping the economic relations between countries significantly during the last decades. In addition, an increasing integration of the national economies into the global economy has affected these economic relations, too. In an effort to...

Persistent link: https://www.econbiz.de/10008699609

Closing the gap between absolute and relative measures of localization, concentration or specialization

Bickenbach, Frank; Bode, Eckhardt; Krieger-Boden, Christiane - 2010

and explore why absolute and relative measures frequently evolve in opposite directions. The paper shows for the EU-15 and …

Persistent link: https://www.econbiz.de/10008699611

Model pooling and changes in the informational content of predictors : an empirical investigation for the euro area

Schwarzmüller, Tim - 2015

I study the performance of single predictor bridge equation models as well as a wide range of model selection and pooling techniques, including Mallows model averaging and Cross-Validation model averaging, for short-term forecasting euro area GDP growth. I explore to what extend model selection...

Persistent link: https://www.econbiz.de/10010472548

Efficient abatement in separated carbon markets : a theoretical and quantitative analysis of the EU emissions trading scheme

Peterson, Sonja (contributor) - 2006

accounting also for the possibilities of purchasing international carbon credits from outside the EU. A computable general … equilibrium model is then used to assess the cost efficiency of current EU climate strategies. Finally, based both on the …

Persistent link: https://www.econbiz.de/10003301167

Exchange-rate misalignments in duopoly : the case of Airbus and Boeing

Bénassy-Quéré, Agnès (contributor); … - 2009

We examine the effect of exchange-rate misalignments on competition in the market for large commercial aircraft. This market is a duopoly where players compete in dollar-denominated prices while one of them, Airbus, incurs costs mostly in euros. We construct and calibrate a simulation model to...

Persistent link: https://www.econbiz.de/10003811853

Macroeconomic volatilities and the labor market : first results from the euro experiment

Merkl, Christian; Schmitz, Tom - 2009

This paper analyzes the effects of different labor market institutions on inflation and output volatility. The eurozone offers an unprecedented experiment for this exercise: since 1999, no national monetary policies have been implemented that could account for volatility differences across...

Persistent link: https://www.econbiz.de/10003827228

The role of labor markets for euro area monetary policy

Christoffel, Kai; Küster, Keith; Linzert, Tobias - 2009

In this paper, we explore the role of labor markets for monetary policy in the euro area in a New Keynesian model in which labor markets are characterized by search and matching frictions. We first investigate to which extent a more flexible labor market would alter the business cycle behavior...

Persistent link: https://www.econbiz.de/10003827243

On the (de)stabilizing effects of news shocks

Winkler, Roland; Wohltmann, Hans-Werner - 2009

This paper analyzes the impacts of news shocks on macroeconomic volatility. Whereas anticipation amplifies volatility in any purely forward-looking model, such as the baseline New Keynesian model, the results are ambiguous when including a backward-looking component. In addition to these...

Persistent link: https://www.econbiz.de/10003872035

Resource-based reluctance, reversed asymmetry, and non-trade integration incentives : theory and evidence from European neighbourhood

Franke, Anja; Gawrich, Andrea; Melnykovska, Inna; … - 2009

Among ENP countries, Azerbaijan is outstanding because it leans on its resource base and sees the EU at the receiving … end of bilateral relations. At the other extreme, Ukraine depends on EU cooperation, especially with respect to trade. We … strategies to bilateral, regional, and multilateral EU strategies for democracy promotion, economic cooperation, justice and home …

Persistent link: https://www.econbiz.de/10003878212