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Trade crisis? What trade crisis?
Behrens, Kristian; Corcos, Gregory; Mion, Giordano - 2010
We provide an analysis of the 2008-2009 trade collapse using microdata from a small open economy, Belgium. First, we …
Persistent link: https://www.econbiz.de/10011506715
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The process of European monetary integration: a comparison of the Belgian and Italian approaches
Maes, Ivo; Quaglia, Lucia - 2003
This paper analyses and compares the roles which Belgium and Italy have played in the process of European monetary … of the Belgian and Italian EMU strategies and the concrete contributions made by Belgium and Italy. Overall, these two … to be skilful negotiators. The main difference is that Belgium has been a constant and consistent "pace-setter" in …
Persistent link: https://www.econbiz.de/10011506562
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The spread of Keynesian economics: a comparison of the Belgian and Italian experiences
Maes, Ivo - 2007
European countries: Belgium and Italy. We focus on the post-World War II period, taking as the main message of Keynesian …. The study shows that Belgium and Italy were two countries were Keynesian economics gained ground only relatively late. The … countries was the strong position of fundamentalist Keynesianism in the academic world in Italy, while in Belgium …
Persistent link: https://www.econbiz.de/10011506634
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The young Lamfalussy: an empirical and policy-oriented growth theorist
Maes, Ivo - 2009
Alexandre Lamfalussy has been highly influential in the process of European monetary and financial unification. In this paper we will analyse the work of the "Young Lamfalussy" (from the mid 1950s to the mid 1960s). Lamfalussy started his career as an academic, focusing on growth theory and...
Persistent link: https://www.econbiz.de/10011506683
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Crisis-proof services: Why trade in services did not suffer during the 2008-2009 collapse
Ariu, Andrea - 2015
at the firm-product-destination level for Belgium, I show that during the crisis the elasticity of services exports with …
Persistent link: https://www.econbiz.de/10011506804
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Firm-specific production factors in a DSGE model with Taylor price setting
De Walque, Gregory; Smets, Frank; Wouters, Raf - 2006
This paper compares the Calvo model with a Taylor contracting model in the context of the Smets-Wouters (2003) Dynamic Stochastic General Equilibrium (DSGE) model. In the Taylor price setting model, we introduce firm-specific production factors and discuss how this assumption can help to reduce...
Persistent link: https://www.econbiz.de/10011506607
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The term structure of interest rates in a DSGE model
Emiris, Marina - 2006
The paper evaluates the implications of the Smets and Wouters (2004) DSGE model for the US yield curve. Bond prices are modelled in a way that is consistent with the macro model and the resulting risk premium in long term bonds is a function of the macro model parameters exclusively. When the...
Persistent link: https://www.econbiz.de/10011506610
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Nominal wage rigidities in a new Keynesian model with frictional unemployment
Bodart, Vincent; De Walque, Gregory; Pierrard, Olivier; … - 2006
In this paper, we propose a search and matching model with nominal stickiness à la Calvo in the wage bargaining. We analyze the properties of the model, first, in the context of a typical real business cycle model driven by stochastic productivity shocks and second, in a fully specified...
Persistent link: https://www.econbiz.de/10011506619
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The bond premium in a DSGE model with long-run real and nominal risks
Rudebusch, Glenn D.; Swanson, Eric T. - 2008
The term premium on nominal long-term bonds in the standard dynamic stochastic general equilibrium (DSGE) model used in macroeconomics is far too small and stable relative to empirical measures obtained from the data - an example of the "bond premium puzzle." However, in models of endowment...
Persistent link: https://www.econbiz.de/10011506664