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The political economy under monetary union: has the euro made a difference?
Fratzscher, Marcel; Stracca, Livio - 2008
Economic and Monetary Union (EMU) has transformed Europe and has created an integrated pan-European economy. Much research has focused on understanding this integration process and what benefits and costs it entails. This paper identifies a political economy channel of EMU as the monetary union...
Persistent link: https://www.econbiz.de/10003794175
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Do EU structural funds promote regional employment? : evidence from dynamic panel data
Mohl, Philipp; Hagen, Tobias - 2011
impact of EU structural funds on employment drawing on a panel dataset of 130 European NUTS regions over the time period 1999 … dynamic panel econometric approaches to control for heteroscedasticity, serial and spatial correlation as well as for … funds ; dynamic panel models ; spatial panel econometrics ; regional employment effects …
Persistent link: https://www.econbiz.de/10009405602
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Responses to monetary policy shocks in the east and the west of Europe : a comparison
Jarociński, Marek - 2008
This paper compares impulse responses to monetary policy shocks in the euro area countries before the EMU and in the New Member States (NMS) from central-eastern Europe. We mitigate the small sample problem, which is especially acute for the NMS, by using a Bayesian estimation that combines...
Persistent link: https://www.econbiz.de/10003825885
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Brexit, what Brexit? : Euro area portfolio exposures to the United Kingdom since the Brexit referendum
Carvalho, Daniel; Schmitz, Martin - 2022
We study euro area investors' portfolio adjustment since the Brexit referendum in terms of securities issued in the UK … exposures to debt securities and listed shares. Our key finding is the absence of a negative "Brexit-effect" for euro area … since the Brexit referendum. The analysis also reveals an increase in the euro area's exposure to listed shares issued by UK …
Persistent link: https://www.econbiz.de/10013375208
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Unconventional monetary policy and the great recession : estimating the impact of a compression in the yield spread at the zero lower bound
Baumeister, Christiane; Benati, Luca - 2010
We explore the macroeconomic impact of a compression in the long-term bond yield spread within the context of the Great Recession of 2007-2009 via a Bayesian time-varying parameter structural VAR. We identify a 'pure' spread shock which, leaving the short-term rate unchanged by construction,...
Persistent link: https://www.econbiz.de/10008688522
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The timing of central bank communication
Ehrmann, Michael (contributor);  … - 2005
This paper explores whether there are systematic patterns as to when members of the decision-making committees of the Federal Reserve, the Bank of England and the European Central Bank communicate with the public, and under what circumstances such communication has the ability to move financial...
Persistent link: https://www.econbiz.de/10003230443
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Communication of monetary policy in unconventional times
Coenen, Günter; Ehrmann, Michael; Gaballo, Gaetano; … - 2017
Monetary policy communication is particularly important during unconventional times, because high uncertainty about the economy, the introduction of new policy tools and possible limits to the central bank 's toolkit could hamper the predictability of policy actions. We study how monetary policy...
Persistent link: https://www.econbiz.de/10011663996
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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
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Labour market adjustments in Europe and the US : how different?
Beyer, Robert; Smets, Frank - 2015
Persistent link: https://www.econbiz.de/10010516557
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Non-Keynesian effects of fiscal contraction in new member states
Rzonca, Andrzej (contributor); Cizkowicz, Piotr (contributor) - 2005
. Section three reviews previous empirical research. Section four uses panel estimation techniques to examine the consequences …
Persistent link: https://www.econbiz.de/10003089847