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What "hides" behind sovereign debt ratings?
Afonso, António (contributor); Gomes, Pedro (contributor);  … - 2007
In this paper we study the determinants of sovereign debt credit ratings using rating notations from the three main international rating agencies, for the period 1995-2005. We employ panel estimation and random effects ordered probit approaches to assess the explanatory power of several...
Persistent link: https://www.econbiz.de/10003410549
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The Maastricht convergence criteria and optimal monetary policy for the EMU accession Countries
Lipińska, Anna (contributor) - 2008
The EMU accession countries are obliged to fulfill the Maastrich convergence criteria prior to entering the EMU. This paper uses a DSGE model of a two-sector small open economy, to address the following question: How do the Maastricht convergence criteria modify optimal monetary policy in an...
Persistent link: https://www.econbiz.de/10003778818
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Trade with central and eastern Europe : is it really a threat to wages in the west?
Polgár, Éva Katalin; Wörz, Julia - 2010
industries) in 25 EU countries over the period from 1995 to 2005. By applying a cross-country and industry-specific approach, it …
Persistent link: https://www.econbiz.de/10008659411
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Efectos del proceso de integración europeo sobre la composición funcional del gasto público
Sanz Labrador, Ismael; Velázquez Angona, Francisco J. - In: Papeles de economía española 91 (2002), pp. 46-59
Persistent link: https://www.econbiz.de/10001660053
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Deeper, wider and more competitive? : monetary integration, Eastern enlargement and competitiveness in the European Union
Ottaviano, Gianmarco I. P. (contributor);  … - 2007
firms? And in the European context, have key elements of the EU strategy such as EMU and enlargement helped or hindered … located in participating economies. Enlargement has, instead, two contrasting effects. It improves the accessibility of EU …
Persistent link: https://www.econbiz.de/10003635984
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Fiscal and monetary policy in the enlarged European Union (forthcoming)
Pogorelec, Sabina (contributor) - 2006
I build a quantitative two-country DSGE model of the European Union (EU) and investigate whether there are welfare … gains from fiscal policy cooperation between the new EU members and the euro area (EMU). Fiscal cooperation is defined in … firms in the new EU countries. When there is no foreign ownership in the new EU countries, the euro area is indifferent …
Persistent link: https://www.econbiz.de/10003358603
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The role of fiscal transfers for regional economic convergence in Europe
Checherita-Westphal, Cristina; Nickel, Christiane; … - 2009
This paper provides evidence on the role of net fiscal transfers to households and EU structural funds for per … growth rates in poor receiving regions decline by less than in rich paying regions. EU structural and cohesion funds spent …
Persistent link: https://www.econbiz.de/10003832335
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Macroeconomic adjustment to monetary union
Fagan, Gabriel (contributor); Gaspar, Vítor (contributor) - 2008
The move to monetary union in Europe led to convergence of interest rates among the participating countries. This was associated with notable cross-country differences in the behaviour of key macroeconomic aggregates. Compared to the low interest rate countries, former high interest rate...
Persistent link: https://www.econbiz.de/10003790953
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The political economy under monetary union: has the euro made a difference?
Fratzscher, Marcel; Stracca, Livio - 2008
Economic and Monetary Union (EMU) has transformed Europe and has created an integrated pan-European economy. Much research has focused on understanding this integration process and what benefits and costs it entails. This paper identifies a political economy channel of EMU as the monetary union...
Persistent link: https://www.econbiz.de/10003794175
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Responses to monetary policy shocks in the east and the west of Europe : a comparison
Jarociński, Marek - 2008
This paper compares impulse responses to monetary policy shocks in the euro area countries before the EMU and in the New Member States (NMS) from central-eastern Europe. We mitigate the small sample problem, which is especially acute for the NMS, by using a Bayesian estimation that combines...
Persistent link: https://www.econbiz.de/10003825885