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On the scientific status of economic policy: A tale of alternative paradigms
Fagiolo, Giorgio; Roventini, Andrea - 2008
In the last years, a number of contributions has argued that monetary - and, more generally, economic - policy is finally becoming more of a science. According to these authors, policy rules implemented by central banks are nowadays well supported by a theoretical framework (the New Neoclassical...
Persistent link: https://www.econbiz.de/10010328656
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Structural reforms and macroeconomic performance in the euro area countries: a model-based assessment
Gomes, Sandra; Jacquinot, Pascal; Mohr, Matthias; … - 2011
We quantitatively assess the macroeconomic effects of country-specific supply-side reforms in the euro area by simulating EAGLE, a multi-country dynamic general equilibrium model. We consider reforms in the labor and services markets of Germany (or, alternatively, Portugal) and the rest of the...
Persistent link: https://www.econbiz.de/10011605369
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The collapse of a country
Daníelsson, Jón - 2009
Persistent link: https://www.econbiz.de/10014306478
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What Can Ukraine Learn from Aufbau Ost?
Blum, Ulrich - In: Intereconomics 58 (2023) 2, pp. 119-126
This article uses Aufbau Ost (or reconstruction of the East) of the new German states as a structural model to estimate the possible costs of an Aufbau Ost 2.0 of Ukraine while taking institutional differences into account. Based on three approaches, the model is validated for the new German...
Persistent link: https://www.econbiz.de/10014334693
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The spread of Keynesian economics: a comparison of the Belgian and Italian experiences
Maes, Ivo - 2007
European countries: Belgium and Italy. We focus on the post-World War II period, taking as the main message of Keynesian …. The study shows that Belgium and Italy were two countries were Keynesian economics gained ground only relatively late. The … countries was the strong position of fundamentalist Keynesianism in the academic world in Italy, while in Belgium …
Persistent link: https://www.econbiz.de/10011506634
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Neglecting Demand and Cycle in the Euro Area
Marterbauer, Markus; Walterskirchen, Ewald - 2006
The stagnation of the economy in the Euro area since 2000 is closely connected to the dominance of purely long-run supply-side oriented policies in the Euro area. While exports and profits soared, domestic demand has been weak. The neglect of cyclical and demand factors appears to be the major...
Persistent link: https://www.econbiz.de/10011435181
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The crisis: Policy lessons and policy challenges
Bénassy-Quéré, Agnès; Coeuré, Benoît; Jacquet, Pierre - 2009
We review the competing explanations of the 2007-2008 global crisis, recall how governments around the world had to depart from established policy stances, and reflect on the legacy of the crisis both in terms of future challenges and changes in policy doctrine. The G-20 has addressed important...
Persistent link: https://www.econbiz.de/10010317303
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Testing for Parameter Stability in DSGE Models. The Cases of France, Germany, Italy, and Spain
Jerger, Jürgen; Röhe, Oke - 2012
properties of each single parameter in a DSGE model separately. In the case of France, Germany, and Italy our results point to … behavior for France, Italy, and Spain, while monetary policy in Germany seems to be stable over time. …
Persistent link: https://www.econbiz.de/10010294717
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Asymmetric monetary policy effects in EMU
Clausen, Volker; Hayo, Bernd - 2002
simultaneously estimated for France, Germany, and Italy. Extensive cross equation tests show that relatively large differences in … major EMU countries. However, monetary policy impulses show a relatively stronger effect on the output gap in Italy and …
Persistent link: https://www.econbiz.de/10010301283
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Regional interest rate pass-through in Italy
Montagnoli, Alberto; Napolitano, Oreste; Siliverstovs, … - 2012
This paper estimates the pass-through and speed of adjustment of Italian regional interest rates to changes in the money market rate for the period 1998Q1-2009Q4. Our main findings suggest that the markup for the lending rates that banks charge are generally higher in the South than in the...
Persistent link: https://www.econbiz.de/10010319697