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The fundamentals of safe assets
Habib, Maurizio Michael; Stracca, Livio; Venditti, Fabrizio - 2020
We study what makes government bonds a safe asset. Building on a sample of monthly changes in government bond yields in 40 advanced and emerging countries, we analyse the sensitivity of yields to country specific fundamentals interacted with changes in global risk (VIX). We find that inertia...
Persistent link: https://www.econbiz.de/10012138612
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Dominant currencies and the export supply channel
Frohm, Erik - 2021
., 2020). However, adjustment in the export sector can still occur through other supply-side channels. With bilateral trade … presents several novel findings: (1), a depreciation of an exporter's currency against the US-dollar increases total export … significant increase in average exports per firm (the intensive margin), while the aggregate export response is mainly driven by …
Persistent link: https://www.econbiz.de/10012596321
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Does bargaining matter in the small firm's matching model?
l’Haridon, Olivier; Malherbet, Franck; Pérez-Duarte, … - 2011
In this article, we use a stylized model of the labor market to investigate the effects of three alternative and well-known bargaining solutions. We apply the Nash, the Egalitarian and the Kalai-Smorodinsky bargaining solutions in the small firm's matching model of unemployment. To the best of...
Persistent link: https://www.econbiz.de/10009639478
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Do EU structural funds promote regional employment? : evidence from dynamic panel data
Mohl, Philipp; Hagen, Tobias - 2011
Despite its rather broad goal of promoting "economic, social and territorial cohesion", the existing literature has mainly focused on investigating the Cohesion Policy's growth effects. This ignores the fact that part of the EU expenditures is directly aimed at reducing disparities in the...
Persistent link: https://www.econbiz.de/10009405602
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Does bargaining matter in the small firm's matching model?
L'Haridon, Olivier; Malherbet, Franck; Pérez-Duarte, … - 2011
In this article, we use a stylized model of the labor market to investigate the effects of three alternative and well-known bargaining solutions. We apply the Nash, the Egalitarian and the Kalai-Smorodinsky bargaining solutions in the small firm's matching model of unemployment. To the best of...
Persistent link: https://www.econbiz.de/10009238027
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Help wanted: the drivers and implications of labour shortages
Groiss, Martin; Sondermann, David - 2023
Labour shortages have become prevalent across advanced economies. Yet, little is known about which firms are more likely to face them and the impact they have on the labour market. We create a firm-level data set spanning 28 EU countries, 283 regions and 18 sectors, contributing to close this...
Persistent link: https://www.econbiz.de/10014481163
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The anatomy of consumption in a household foreign currency debt crisis
Gyöngyösi, Győző; Rariga, Judit; Verner, Emil - 2022
How do households adjust to a large debt shock? This paper studies household responses to a revaluation of foreign currency household debt during a large depreciation in Hungary. Relative to similar local currency debtors, foreign currency debtors reduce consumption expenditures approximately...
Persistent link: https://www.econbiz.de/10013375175
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Comparing economic dynamics in the EU and CEE accession countries
Süppel, Ralph - 2003
This paper presents evidence for structural differences in economic growth dynamics between the current EU and the central- and eastern European accession countries. Two important results emerge from the analysis. First, accession countries have posted higher average growth and wider output...
Persistent link: https://www.econbiz.de/10009635910
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Aggregation-theoretic monetary aggregation over the euro area, when countries are heterogeneous
Barnett, William A. - 2003
We derive fundamental new theory for measuring monetary service flows aggregated over countries within the European Monetary Union (EMU). We develop three increasingly restrictive approaches: (1) the heterogeneous agents approach, (2) the multilateral representative agent approach, and (3) the...
Persistent link: https://www.econbiz.de/10009635917
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Exchange rates and fundamentals
Engel, Charles; West, Kenneth David - 2003
Standard economic models hold that exchange rates are influenced by fundamental variables such as relative money supplies, outputs, inflation rates and interest rates. Nonetheless, it has been well documented that such variables little help predict changes in floating exchange rates u0097 that...
Persistent link: https://www.econbiz.de/10009635953