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This paper studies the causes of price dispersion in the euro area emerging in response to a shock that hits all member countries symmetrically. We use a panel VAR model which is estimated over the period 1996 - 2007 to generate impulse responses of a range of price and wage variables to an oil...
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This paper evaluates short-term forecasts of real GDP in the Euro area derived from the CESifo Economic Climate indicator (WES) in terms of forecast accuracy. We compare the forecast properties of the WES with those of monthly composite indicators. Considering the WES is interesting because (i)...
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banking crisis. Other EU countries, above all France, were indirectly affected by this crisis, and some eastern European … countries are also endangered. Although the EU has tried to contain the euro crisis with extensive rescue operations that have … switch that will shift the forces of growth back from the periphery to the center, although the EU rescue measures counteract …
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