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Feldstein, Martin - 2005

This paper begins by discussing the inherent conflict between the simultaneous existence of a single currency for the countries of the European Economic and Monetary Union (EMU) and the independent fiscal policies of those countries. The Stability and Growth Pact was an attempt to reconcile that...

Persistent link: https://www.econbiz.de/10012467436

The European Central Bank and the Euro : The First Year

Feldstein, Martin - 2000

The creation of the euro and the European Central Bank is a remarkable and unprecedented event in economic and … cyclical and inflation conditions vary substantially among countries. Labor market policies during this first year will … some advocate the euro despite its economic problems because of its assumed favorable effects on European political …

Persistent link: https://www.econbiz.de/10012471257

Incentives in Markets, Firms and Governments

Acemoglu, Daron - 2003

Most government expenditure is on goods that yield primarily private benefits, such as education, pensions, and healthcare. We argue that markets are most advantageous in areas where high-powered incentives are desirable, but in areas where high-powered incentives stimulate unproductive...

Persistent link: https://www.econbiz.de/10012468896

The Ups and Downs of Turkish Growth, 2002-2015 : Political Dynamics, the European Union and the Institutional Slide

Acemoglu, Daron - 2015

We document a change in the character and quality of Turkish economic growth with a turning point around 2007 and link this change to the reversal in the nature of economic institutions, which underwent a series of growth-enhancing reforms following Turkey's financial crisis in 2001, but then...

Persistent link: https://www.econbiz.de/10012457061

Coordination in the European Union

Feldstein, Martin - 2013

This paper examines the sources of current conflict within the EU and the EMU. The topics discussed include the recent ECB policy of bond buying (the OMT policy), the attempts to advance the "European Project" of stronger political union (the fiscal compact, the banking union, and the proposals...

Persistent link: https://www.econbiz.de/10012459989

The Future of Social Security Pensions in Europe

Feldstein, Martin - 2001

that any solution must be compatible with a European Union labor market in which individuals from any member country are …

Persistent link: https://www.econbiz.de/10012470231

Economic Problems of Ireland in Europe

Feldstein, Martin - 2001

This paper uses the recent controversy between the European Union and the Irish Republic to discuss the more general relation between the European Union, the EMU and the member countries. Despite outstanding economic growth and budget surpluses, Ireland has been criticized by the European...

Persistent link: https://www.econbiz.de/10012470460

Credit Market Imperfections and Persistent Unemployment

Acemoglu, Daron - 2000

This paper develops the thesis that credit market frictions may be an important contributor to high unemployment in … market imperfections, so unemployment rises and remains high for an extended period. The data show that there has not been … industries is lower than in the U.S.. This suggests that although credit market imperfections are unlikely to have been the major …

Persistent link: https://www.econbiz.de/10012470798

Patterns of Skill Premia

Acemoglu, Daron - 1999

In this paper, I develop a model to analyze how skill premia differ over time and across countries, and use this model to study the impact of international trade on wage inequality. Skill premia are determined by technology and the relative supply of skills. An increase in the relative supply of...

Persistent link: https://www.econbiz.de/10012471782

The Political Economy of the European Economic and Monetary Union : Political Sources of an Economic Liability

Feldstein, Martin - 1998

EMU would be an economic liability. A single currency would cause at most small trade and investment gains but would raise average cyclical unemployment and would probably raise inflation, perpetuate structural unemployment, and increase the risk of protectionism. EMU is nevertheless being...

Persistent link: https://www.econbiz.de/10012472419