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A narrative database of labour market reforms in euro area economies

Aumond, Romain; Di Tommaso, Valerio; Rünstler, Gerhard - 2022

We present a quarterly narrative database of important labour market reforms in selected euro area economies in between 1995 and 2018 covering 60 events. We provide legal adoption and implementation dates of major reforms to employment protection legislation and unemployment benefits. Estimates...

Persistent link: https://www.econbiz.de/10013168212

The macroeconomic impact of euro area labour market reforms : evidence from a narrative panel VAR

Rünstler, Gerhard - 2021

Using new quarterly narrative evidence, this paper examines the macroeconomic impact of reforms of unemployment benefits (UB) and employment protection legislation (EPL) in the euro area from a Bayesian narrative panel VAR. The approach complements existing micro-econometric evidence by aligning...

Persistent link: https://www.econbiz.de/10012627869

Did the euro change the nature of FDI flows among member states?

Sondermann, David; Vansteenkiste, Isabel - 2019

In this paper we investigate the impact of the euro integration process on the drivers of FDI inﬂows. We show theoretically and empirically that the single currency alters the drivers of FDI inﬂows across its Member States. Estimating bilateral gravity models of FDI inﬂows into euro area...

Persistent link: https://www.econbiz.de/10011999066

Determinants of FDI inflows in advanced economies : does the quality of economic structures matter?

Dellis, Konstantinos; Sondermann, David; Vansteenkiste, … - 2017

This paper investigates the role of economic structures as determinants of FDI inflows. We expand on the existing literature by focusing on advanced economies, using a newly available measure of FDI which cleans the data from statistical artefacts, such as financial round tripping, and by...

Persistent link: https://www.econbiz.de/10011647827

Structural reform waves and economic growth

Marrazzo, Pasquale Marco; Terzi, Alessio - 2017

At a time of slow growth in several advanced and emerging countries, calls for more structural reforms are multiplying. However, estimations of the short- and medium-term impact of these reforms on GDP growth remain methodologically problematic and still highly controversial. We contribute to...

Persistent link: https://www.econbiz.de/10011747694

Financial reforms and innovation : a micro-macro perspective

Boikos, Spyridon; Bournakis, Ioannis; Dimitris, … - 2021

We develop a horizontal R&D growth model that allows us to investigate the different channels through which financial reforms affect R&D investment and patent activity. First, a "micro" reformthat abolishes barriers to entry in the banking sector produces a straightforward result: a decrease in...

Persistent link: https://www.econbiz.de/10012508542

Digitalisation, institutions and governance, and growth : mechanisms and evidence

Labhard, Vincent; Lehtimäki, Jonne - 2022

and output, employment and labour markets, competition and market structure. This paper focuses on the effects of …

Persistent link: https://www.econbiz.de/10013375211

Monetary policy and the drifting natural rate of interest

Daudignon, Sandra; Tristani, Oreste - 2023

Empirical analyses starting from Laubach and Williams (2003) find that the natural rate of interest is not constant in the long-run. This paper studies the optimal response to stochastic changes of the long-run natural rate in a suitably modified version of the new Keynesian model. We show that,...

Persistent link: https://www.econbiz.de/10013553542

Corporate tax competition and the decline of public investment

Gomes, Pedro (contributor); Pouget, François (contributor) - 2008

respond positively to the other. Therefore, international tax competition not only drives corporate tax rates to lower levels … relation between the two variables. We then add an element of international tax competition. Our simulations show that when … international tax competition drives the statutory tax rate down from 45% to 30%, public investment is reduced by 0.4% of output at …

Persistent link: https://www.econbiz.de/10003789429

Competition among high-frequency traders, and market quality

Breckenfelder, Johannes - 2019

We study empirically how competition among high-frequency traders (HFTs) affects their trading behavior and market …-frequency competition, and contains an exogenous event - a tick size reform - which we use to disentangle the effects of the rising share of … high-frequency trading in the market from the effects of high-frequency competition. We find that when HFTs compete, their …

Persistent link: https://www.econbiz.de/10012016546