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Measuring the Business Cycle Similarity and Convergence Trends in the CEECs Towards the Eurozone with Respect to some Unclear Methodological Aspects
Rozmahel, Petr - 2009
discussion on the process of joining the Eurozone by the Czech Republic and other candidate countries. The paper provides an …. Measures of business cycle similarity are ordinarily used to evaluate preparedness of candidate countries to join the Eurozone …. The results indicate continuing convergence of the business cycle similarity between the candidate and Eurozone member …
Persistent link: https://www.econbiz.de/10011435274
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Neglecting Demand and Cycle in the Euro Area
Marterbauer, Markus; Walterskirchen, Ewald - 2006
The stagnation of the economy in the Euro area since 2000 is closely connected to the dominance of purely long-run supply-side oriented policies in the Euro area. While exports and profits soared, domestic demand has been weak. The neglect of cyclical and demand factors appears to be the major...
Persistent link: https://www.econbiz.de/10011435181
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The Ease of Trade Imbalances Within the Euro Area After the 2008 Recession
Scheiblecker, Marcus - 2013
Right from the start of the European currency union, trade imbalances could be observed in the current accounts and trade balances of the euro countries. The business cycle upswing reaching into 2008 and the strong inflow of cheap money led to a strong economic expansion especially in the...
Persistent link: https://www.econbiz.de/10011435352
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Financial Development and Macroeconomic Volatility. Evidence from OECD Countries
Hahn, Franz R. - 2003
This paper discusses the link between financial development and macroeconomic volatility by exploring some of the ways through which financial development may affect business cycle fluctuations. To be specific, we examine whether stock market development exerts an unambiguous effect on...
Persistent link: https://www.econbiz.de/10011435122
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Strengthening the Resilience of an Economy. Strategies to Prevent another Crisis
Aiginger, Karl - 2009
The financial crisis has affected the real economy in stages yet nevertheless at an unexpected rate and with all regions being affected simultaneously. It advanced almost independently of the regions' exposure to the actual initial causes, among them the subprime crisis, innovative financial...
Persistent link: https://www.econbiz.de/10011435262
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An Anatomy of Firm Level Job Creation Rates over the Business Cycle
Hölzl, Werner; Huber, Peter - 2009
We study the evolution and cyclical dependency of the cross sectional distribution of firm level job creation rates from 1975 to 2004 for the Austrian private sector. We find that the share of firms that o not adjust has declined over time, but that the share of entries, exits, growing and...
Persistent link: https://www.econbiz.de/10011435272
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Post Crisis Policy: Some Reflections of a Keynesian Economist
Aiginger, Karl - 2010
This paper compares the depth and length of the recent crisis with the Great Depression in the 1930s. It claims that economic policy played a crucial role in shortening and curtailing the recent crisis. We analyse which policies were applied during the recent crisis and which measures worked. We...
Persistent link: https://www.econbiz.de/10011435292
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Die Wirtschafts- und Währungsunion. Abschluß oder Ende der Europäischen Integration?
Breuss, Fritz - 1996
Persistent link: https://www.econbiz.de/10011435035
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Economic Policy Coordination in the EMU. How Much Scope will There be Within the Framework of the Stability and Growth Pact?
Breuss, Fritz; Weber, Andrea - 1999
With a large-scale econometric world model we derive policy multipliers and the parameters for the utility functions for 10 EMU countries and for the ECB. The gains from cooperation are calculated by comparing two equilibria, a Nash and a cooperative equilibrium. The cooperative equilibrium is...
Persistent link: https://www.econbiz.de/10011435046
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Was ECB's Monetary Policy Optimal?
Breuss, Fritz - 2002
Overall, the ECB managed monetary policy quite satisfactory in the first phase of EMU. Nevertheless, this paper asks whether monetary policy could not have been improved. In the last three years, Euroland was confronted with the first external shock. Oil prices increased considerably, leading to...
Persistent link: https://www.econbiz.de/10011435104