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Implications of monetary union for catching-up member states

Sánchez, Marcelo (contributor) - 2006

We examine the implications of monetary union for macroeconomic stabilisation in catching up participating countries. We allow member states’supply conditions to differ inside the union, especially with regard to sectoral characteristics. Sectoral productivity shocks on balance hamper the...

Persistent link: https://www.econbiz.de/10003337166

Inflation forecasting in the new EU Member States

Arratibel, Olga; Kamps, Christophe; Leiner-Killinger, Nadine - 2009

for future inflation for the cross section of New EU Member States. This paper provides stylized facts on monetary versus … content of money ; fiscal policy ; New EU Member States …

Persistent link: https://www.econbiz.de/10003831802

The role of the exchange rate for adjustment in boom and bust episodes

Martin, Reiner (contributor); Schuknecht, Ludger (contributor) - 2007

more slowly. Some Central and East European EU Member States are currently experiencing strong credit and asset price …

Persistent link: https://www.econbiz.de/10003554948

Determinants of government bond spreads in new EU countries

Alexopoulou, Ioana; Bunda, Irina; Ferrando, Annalisa - 2009

an empirical assessment of the role of fundamentals in driving long-term sovereign bond spreads of the new EU countries … short-term interest rate spreads play an important role in the new EU countries' access to long-term finance. We furthermore … ; new EU countries : pooled mean group estimation …

Persistent link: https://www.econbiz.de/10003963768

Can we prevent boom-bust cycles during euro area accession?

Brzoza-Brzezina, Michał; Jacquinot, Pascal; Kolasa, Marcin - 2010

Euro-area accession caused boom-bust cycles in several catching-up economies. Declining interest rates and easier financing conditions fuelled spending and worsened the current account balance. Over time inflation deteriorated external competitiveness and lowered domestic demand, turning the...

Persistent link: https://www.econbiz.de/10008771781

FDI and productivity convergence in central and eastern Europe : an industry-level investigation

Bijsterbosch, Martin; Kolasa, Marcin - 2009

This paper presents empirical evidence of the effect of FDI inflows on productivity convergence in central and eastern Europe, using industry-level data. Four conclusions stand out. First, there is a strong convergence effect in productivity, both at the country and at the industry level....

Persistent link: https://www.econbiz.de/10003826485

The impact of capital flows on domestic investment in transition economies

Mileva, Elitza (contributor) - 2008

During the 1990s most transition economies undertook a series of market reforms, including opening their capital accounts. This paper uses static and dynamic panel techniques to assess the effect of FDI, foreign loans and portfolio flows on domestic investment. In this partial adjustment setup,...

Persistent link: https://www.econbiz.de/10003748962

Current account dynamics in OECD and EU acceding countries : an intertemporal approach

Bussière, Matthieu (contributor); … - 2004

Persistent link: https://www.econbiz.de/10002124872

European Union enlargement and equity markets in accession countries

Dvořák, Tomáš (contributor); … - 2005

The announcement of European Union enlargement coincided with a dramatic rise in stock prices in accession countries. This paper investigates the hypothesis that the rise in stock prices was a result of the repricing of systematic risk due to the integration of accession countries into the world...

Persistent link: https://www.econbiz.de/10003209108

Public sector efficiency : evidence for new EU member states and emerging markets

Afonso, António (contributor); … - 2006

rankings by applying a range of measurement techniques. The study finds that expenditure efficiency across new EU member states …

Persistent link: https://www.econbiz.de/10003274690