Showing 1 - 10 of 1,266
Persistent link: https://www.econbiz.de/10011294996
Was Spanish fiscal policy destabilizing? We estimate policy reaction functions and test the impact of fiscal shocks on growth volatility over the period 19501998. We find that a transition from pro-cyclical to countercyclical fiscal policy occurred in the late years of the Franco regime,...
Persistent link: https://www.econbiz.de/10010288816
This background paper describes in detail the assumptions and calculations behind the results presented in Zsolt Darvas, Jean Pisani-Ferry and André Sapir 'A comprehensive approach to the euro-area debt crisis', Bruegel Policy Brief No 2011/02, February 2011. An assessment of the results and...
Persistent link: https://www.econbiz.de/10010317330
Im Jahr 2000 konnte das hohe Wachstumstempo des Vorjahres nur noch im ersten Quartal gehalten werden. Die reale Bruttoinlandsproduktion expandierte aber dank des hohen Überhangs zu Jahresbeginn noch um 4,1 %. Die Lage auf dem Arbeitsmarkt verbesserte sich weiter. Die Arbeitslosenquote ging im...
Persistent link: https://www.econbiz.de/10011691746
The euro area's sovereign debt crisis continues though significant steps have been taken to resolve it. This paper proposes a comprehensive solution to the crisis based on three pillars: a plan to restore banking sector soundness in the whole euro area, a resolution of sovereign debt crisis...
Persistent link: https://www.econbiz.de/10010494465
The aim of this paper is to analyse how female migrants fare in the Spanish labour market, a country that has experienced impressive immigration flows during the last decade. Particularly, we explore the differential access to employment and the earning gap faced by this group, considering the...
Persistent link: https://www.econbiz.de/10011538733
Wirtschaftspolitik noch erhebliche strukturelle Probleme lösen muss. Die beeindruckende binnenwirtschaftliche Expansion ist in erster … Linie das Ergebnis der für Spanien stark expansiv wirkenden Geldpolitik der Europäischen Zentralbank (EZB) sowie der … dem Immobilienmarkt ausgelöst, der zunehmend Züge einer spekulativen Blase annimmt. Soll Spanien auf einem dauerhaften …
Persistent link: https://www.econbiz.de/10011601499
Das Dreisäulensystem ist kein spezifisches Phänomen des deutschen Bankensektors. Auch in zahlreichen europäischen Nachbarländern war ein Nebeneinander von Privatbanken, Genossenschaftsbanken und Sparkassen gang und gäbe. Einige der Länder haben jedoch wesentlich früher als Deutschland die...
Persistent link: https://www.econbiz.de/10011601521
This paper uses a unique sample of 175 Spanish equity offerings from 1985 to 2002 to test who benefits from IPO underpricing and why. Institutions receive nearly 75% of the profits in underpriced issues, while they have to bear only 56% of the losses in overpriced offerings. Superior information...
Persistent link: https://www.econbiz.de/10011604474
A common finding in empirical studies using micro data on consumer and producer prices is that hazard functions for price changes are decreasing. This means that a firm will have a lower probability of changing its price the longer it has kept it unchanged. This result is at odds with standard...
Persistent link: https://www.econbiz.de/10011604507