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Money growth in the euro area has exceeded its target since 2001. Likewise, recent empirical studies did not find …, a rise in the income elasticity after 2001 is taken into account. The break might be linked to the introduction of euro …
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The accumulation of the human capital stock plays a key role to explain the macroeconomic performance across regions. However, despite the strong theoretical support for this claim, empirical evidence has been not very convincing, probably because of the low quality of the data. This paper...
Persistent link: https://www.econbiz.de/10003793935
euro area. To control for international spillovers, global VARs are also considered. Differences in the results can provide … a measure on the impact of financial market integration. The specifications point to some impact of liquidity shocks on …
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