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This paper analyses the transmission of financial shocks to the macroeconomy. The role of macro-financial linkages is investigated from an empirical perspective for the euro area as a whole, for individual euro area member countries and for other EU and OECD countries. The following key economic...
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This paper studies the cyclical properties of real GDP, house prices, credit, and nominal liquid financial assets in 17 EU countries, by applying several methods to extract cycles. The estimates confirm earlier findings of large medium-term cycles in credit volumes and house prices. GDP appears...
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This paper measures the links between financial services and other production sectors in the Luxembourg economy. The …-sector correlations. In conclusion, the financial sector appears to be strongly linked with the rest of the economy, benefitting from … growth in other sectors, which it amplifies and propagates to the whole economy …
Persistent link: https://www.econbiz.de/10012827521
This paper analyses the challenges that high public debt and ageing populations pose to medium-term growth. First, macroeconometric model simulations suggest that medium-term growth can benefit from credible fiscal consolidation, partly through reductions in sovereign risk premia. Second, a...
Persistent link: https://www.econbiz.de/10013014734