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The impact of extreme weather events on budget balances and implications for fiscal policy

Lis, Eliza M.; Nickel, Christiane - 2009

This paper explores implications of climate change for fiscal policy by assessing the impact of large scale extreme weather events on changes in public budgets. We apply alternative measures for large scale extreme weather events and conclude that the budgetary impact of such events ranges...

Persistent link: https://www.econbiz.de/10003866542

Fiscal sustainability and policy implications for the euro area

Balassone, Fabrizio; Cunha, Jorge Correia da; Langenus, … - 2009

In this paper we examine the sustainability of euro area public finances against the backdrop of population ageing. We critically assess the widely used projections of the Working Group on Ageing Populations (AWG) of the EU's Economic Policy Committee and argue that ageing costs may be higher...

Persistent link: https://www.econbiz.de/10003826581

3-step analysis of public finances sustainability : the case of the European Union

Afonso, António (contributor); … - 2008

We use a 3-step analysis to assess the sustainability of public finances in the EU27. Firstly, we perform the SURADF specific panel unit root test to investigate the meanreverting behaviour of general government expenditure and revenue ratios. Secondly, we apply the bootstrap panel cointegration...

Persistent link: https://www.econbiz.de/10003782655

Density forecasts of inflation : a quantile regression forest approach

Lenza, Michele; Moutachaker, Inès; Paredes, Joan - 2023

Density forecasts of euro area inflation are a fundamental input for a medium-term oriented central bank, such as the European Central Bank (ECB). We show that a quantile regression forest, capturing a general non-linear relationship between euro area (headline and core) inflation and a large...

Persistent link: https://www.econbiz.de/10014343110

Covid-19 and rural landscape : the case of Italy

Agnoletti, Mauro; Manganelli, Simone; Piras, Francesco - 2020

process, socioeconomic and environmental features. Type A includes areas of periurban agriculture surrounding the metropolitan … cities, type B areas of intensive agriculture with high concentration of agroindustry, type C hilly areas with highly … diversified agriculture and valuable landscape, and type D high hills and mountains with forests and protected areas. Areas A and …

Persistent link: https://www.econbiz.de/10012299042

Government deficits, wealth effects and the price level in an optimizing model

Annicchiarico, Barbara - 2003

This paper investigates the in inflationary effects of fscal policy in an optimizing general equilibrium monetary model with capital accumulation, exible prices and wealth effects. The model is calibrated to Euro Area quarterly data. Simulation results show that government defcits, high debt...

Persistent link: https://www.econbiz.de/10009635879

Country and sector-specific spillover effects in the euro area, the United States and Japan

Kaltenhaeuser, Bernd - 2003

Within a two-step GARCH framework we explore the linkages between equity returns of ten sectors in the euro area, the United States and Japan, respectively. Our estimation framework allows a distinction to be made between spillover effects originating from one of the three currency areas and...

Persistent link: https://www.econbiz.de/10009635881

Inflation persistence and robust monetary policy design

Coenen, Günter - 2003

This paper investigates the performance of optimised interest rate rules when there is uncertainty about a key determinant of the monetary transmission mechanism, namely the degree of persistence characterising the inﬂation process. The paper focuses on the euro area and utilises two variants of...

Persistent link: https://www.econbiz.de/10009635885

US, Japan and the euro area

McAdam, Peter - 2003

There has been much discussion of the differences in macroeconomic performance and prospects between the US, Japan and the euro area. Using Markov-switching techniques, in this paper we identify and compare specifically their major business-cycle features and examine the case for a common...

Persistent link: https://www.econbiz.de/10009635889

Short-term estimates of euro area real GDP by means of monthly data

Rünstler, Gerhard; Sédillot, Franck - 2003

The first official data releases of quarterly real GDP for the euro area are published about eight weeks after the end of the reference quarters. Meanwhile, ongoing economic developments must be assessed from various, more readily available, monthly indicators. We examine in the context of...

Persistent link: https://www.econbiz.de/10009635895

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