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Automatic Stabilizers and Economic Crisis : Us vs. Europe

Dolls, Mathias - 2010

income shock in the EU, compared to 32 per cent in the US. In the case of an unemployment shock 47 percent of the shock are … absorbed in the EU, compared to 34 per cent in the US. This cushioning of disposable income leads to a demand stabilization of … up to 30 per cent in the EU and up to 20 per cent in the US. There is large heterogeneity within the EU. Automatic …

Persistent link: https://www.econbiz.de/10013139144

Cross-Country Causes and Consequences of the Crisis : An Update

Rose, Andrew Kenan - 2010

We update Rose and Spiegel (2009a, b) and search for simple quantitative models of macroeconomic and financial indicators of the "Great Recession" of 2008-09. We use a cross-country approach and examine a number of potential causes that have been found to be successful indicators of crisis...

Persistent link: https://www.econbiz.de/10013139743

Some Inconvenient Truths About Climate Change Policy : The Distributional Impacts of Transportation Policies

Holland, Stephen P. - 2011

Instead of efficiently pricing greenhouse gases, policy makers have favored measures that implicitly or explicitly subsidize low carbon fuels. We simulate a transportation-sector cap & trade program (CAT) and three policies currently in use: ethanol subsidies, a renewable fuel standard (RFS),...

Persistent link: https://www.econbiz.de/10013120318

What is a Sustainable Public Debt?

D'Erasmo, Pablo - 2015

The question of what is a sustainable public debt is paramount in the macroeconomic analysis of fiscal policy. This question is usually posed as asking whether the outstanding public debt and its projected path are consistent with those of the government's revenues and expenditures (i.e. whether...

Persistent link: https://www.econbiz.de/10013015096

Currency Unions and Trade : A Post-Emu Mea Culpa

Glick, Reuven - 2015

In our European Economic Review (2002) paper, we used pre-1998 data on countries participating in and leaving currency unions to estimate the effect of currency unions on trade using (then-) conventional gravity models. In this paper, we use a variety of empirical gravity models to estimate the...

Persistent link: https://www.econbiz.de/10013015976

A Long Term Perspective on the Euro

Bordo, Michael D. - 2008

This study grounds the establishment of EMU and the euro in the context of the history of international monetary cooperation and of monetary unions, above all in the U.S., Germany and Italy. The purpose of national monetary unions was to reduce transactions costs of multiple currencies and...

Persistent link: https://www.econbiz.de/10012772728

Participation in a Currency Union

Casella, Alessandra - 2008

When countries of different sizes participate in a cooperative agreement, the potential gain from deviation determines the minimum power that each country requires in the common decision-making. lt;brgt;lt;bRgt;This paper studies the problem in the context of a monetary union - multiple...

Persistent link: https://www.econbiz.de/10012774523

Monetary Policy and Performance in the U.S., Japan and Europe, 1973-86

Fischer, Stanley - 2007

Monetary policies in the U.S., Japan, Germany and the United Kingdom over the period 1973-1986 are compared and evaluated, with the aim of drawing lessons for monetary policy from the recent historical record. All four countries shifted during this period to money targeting, though with...

Persistent link: https://www.econbiz.de/10012777224

Skill of the Immigrants and Vote of the Natives : Immigration and Nationalism in European Elections 2007-2016

Moriconi, Simone - 2018

coefficients show that immigration policies balancing the number of high-skilled and low-skilled immigrants from outside the EU …

Persistent link: https://www.econbiz.de/10012910650

The Industry Anatomy of the Transatlantic Productivity Growth Slowdown

Gordon, Robert J. - 2019

By merging KLEMS data sets and aggregating over the ten largest Western European nations (EU-10), we are able to … compare and contrast productivity growth up through 2015 starting from 1950 in the U.S. and from 1972 in the EU-10. Data are …-industries. The analysis focuses on outcomes over four time intervals: 1950-72, 1972-95, 1995-2005, and 2005-15. We interpret the EU …

Persistent link: https://www.econbiz.de/10012889492