Showing 1 - 10 of 13
but also spilled over beyond the euro area. Lower interest rates allowed peripheral countries to run bigger deficits … analyze the geography of international debt flows using multiple data sources and provide evidence that after the euro … euro area …
Persistent link: https://www.econbiz.de/10012458631
conversion rates between the Euro and the currencies of EMU" member states. Current EU legislation, notably the Maastricht treaty … bilateral currency conversion factors implied by the 1 January 1999 choices equal closing" market exchange rates on 31 December … Euro. " Unfortunately, most of these have potentially damaging side effects. One approach official Stage 2 offers of …
Persistent link: https://www.econbiz.de/10012471816
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
We analyze the role of labor mobility in cushioning labor demand shocks in the Euro Area. We find that foreign born … the regional level. Additionally, we compare Euro Area mobility to that of another currency union, the US. We find that … the population to employment elasticity estimated for foreign-born persons is similar in the Euro Area and the US, while …
Persistent link: https://www.econbiz.de/10012480742
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
across European countries. We also document the labor market flows through which such a positive reallocation took place …
Persistent link: https://www.econbiz.de/10012461519
Workers have responded differently to declining union density in the US and UK. US workers have unfilled demand for unions whereas many UK workers free-ride at unionized workplaces. To explain this difference, we create a scalar measure of worker needs for representation and relate desire for...
Persistent link: https://www.econbiz.de/10012466359
The European Union and the United States operate different variants of market capitalism. The EU model uses social … dialogue institutions to help determine economic outcomes, particularly in the labor market, whereas the US relies more on … market forces. The theory of competitive markets provides a powerful framework for analyzing market driven economies and for …
Persistent link: https://www.econbiz.de/10012466363
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
provision of lender of last resort facilities in the euro zone and the framework for supervising financial institutions. The … Growth Pact have been justified by the threat high debts might pose to the stability of the euro zone's financial markets. I …
Persistent link: https://www.econbiz.de/10012471509