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Productivity and the product scope of multi-product firms : a test of Feenstra-Ma

Raff, Horst; Wagner, Joachim - 2012 - This version: December 7, 2012

firms always have a higher market share, there is no monotonic relationship between firms' productivity level and their … effect". Therefore, the incentive to add more products weakens as productivity rises. This leads to Lemma 3 in Feenstra and … evidence is in line with the results from the theoretical model. -- multi-product firms ; productivity ; optimal product scope …

Persistent link: https://www.econbiz.de/10009672241

Exchange rate pass-through in the euro area

Comunale, Mariarosaria; Kunovac, Davor - Task Force on Low Inflation (LIFT) - 2017

In this paper we analyse the exchange rate pass-through (ERPT) in the euro area as a whole and for four euro area members - Germany, France, Italy and Spain. For that purpose we use Bayesian VARs with identification based on a combination of zero and sign restrictions. Our results emphasize that...

Persistent link: https://www.econbiz.de/10011636797

Identifying fiscal shocks and policy regimes in OECD countries

Arcangelis, Giuseppe de; Lamartina, Serena - 2003

The aim of this paper is twofold. First, for West Germany, France, Italy and US, we econometrically select within a SVAR model some fiscal policy regimes, i.e. a u0094set of rulesu0094 for the implementation of fiscal policies. Second, we identify the fiscal policy shocks related to different...

Persistent link: https://www.econbiz.de/10009635887

Global policy at the zero lower bound in a large-scale DSGE model

Gomes, Sandra; Jacquinot, Pascal; Mestre, Ricardo - 2010

The purpose of this paper is to analyse whether fiscal policies can alleviate the effects of the zero lower bound (ZLB) on interest rates and if they should be coordinated internationally. The analysis is carried out using EAGLE, a DSGE model of the global economy. We consider that the fiscal...

Persistent link: https://www.econbiz.de/10008688538

What explains the surge in euro area sovereign spreads during the financial crisis of 2007 - 09?

Attinasi, Maria-Grazia; Checherita-Westphal, Cristina; … - 2009

This paper uses a dynamic panel approach to explain the determinants of widening sovereign bond yield spreads vis-à-vis Germany in selected euro area countries during the period end-July 2007 to end-March 2009, when the financial turmoil developed into a full-blown financial and economic...

Persistent link: https://www.econbiz.de/10003969288

Fiscal developments and financial stress : a threshold VAR analysis

Afonso, António; Baxa, Jaromír; Slavík, Michal - 2011

We use a threshold VAR analysis to study whether the effects of fiscal policy on economic activity differ depending on financial market conditions. In particular, we investigate the possibility of a non-linear propagation of fiscal developments according to different financial market stress...

Persistent link: https://www.econbiz.de/10008935826

Fiscal policy, housing and stock prices

Afonso, António; Sousa, Ricardo M. - 2009

This paper investigates the link between fiscal policy shocks and movements in asset markets using a Fully Simultaneous System approach in a Bayesian framework. Building on the works of Blanchard and Perotti (2002), Leeper and Zha (2003), and Sims and Zha (1999, 2006), the empirical evidence for...

Persistent link: https://www.econbiz.de/10003826474

The macroeconomic effects of fiscal policy

Afonso, António; Sousa, Ricardo M. - 2009

We investigate the macroeconomic effects of fiscal policy using a Bayesian Structural Vector Autoregression approach. We build on a recursive identification scheme, but we: (i) include the feedback from government debt (ii); look at the impact on the composition of output; (iii) assess the...

Persistent link: https://www.econbiz.de/10003826480

Estimating the effects of fiscal policy in OECD countries

Perotti, Roberto (contributor) - 2002

Persistent link: https://www.econbiz.de/10001702818

The impact of monetary union on trade prices

Anderton, Robert; Baldwin, Richard E.; Taglioni, Daria - 2003

formation of a monetary union may induce changes that help harmonise inflation rates. The effect might be large if the …

Persistent link: https://www.econbiz.de/10009635969