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Slovakia: A Catching Up Euro Area Member In and Out of the Crisis
Fidrmuc, Jarko; Klein, Caroline; Price, Robert; … - 2013
are less positive. This development is compared with Estonia and Slovenia, two other small and very open economies …
Persistent link: https://www.econbiz.de/10010331397
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The euro area Bank Lending Survey matters: empirical evidence for credit and output growth
de Bondt, Gabe; Maddaloni, Angela; Peydró, José-Luis; … - 2010
This study examines empirically the information content of the euro area Bank Lending Survey for aggregate credit and output growth. The responses of the lending survey, especially those related to loans to enterprises, are a significant leading indicator for euro area bank credit and real GDP...
Persistent link: https://www.econbiz.de/10011605206
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Strengthening the Resilience of an Economy. Strategies to Prevent another Crisis
Aiginger, Karl - 2009
The financial crisis has affected the real economy in stages yet nevertheless at an unexpected rate and with all regions being affected simultaneously. It advanced almost independently of the regions' exposure to the actual initial causes, among them the subprime crisis, innovative financial...
Persistent link: https://www.econbiz.de/10011435262
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Post Crisis Policy: Some Reflections of a Keynesian Economist
Aiginger, Karl - 2010
This paper compares the depth and length of the recent crisis with the Great Depression in the 1930s. It claims that economic policy played a crucial role in shortening and curtailing the recent crisis. We analyse which policies were applied during the recent crisis and which measures worked. We...
Persistent link: https://www.econbiz.de/10011435292
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Measuring the Business Cycle Similarity and Convergence Trends in the CEECs Towards the Eurozone with Respect to some Unclear Methodological Aspects
Rozmahel, Petr - 2009
discussion on the process of joining the Eurozone by the Czech Republic and other candidate countries. The paper provides an …. Measures of business cycle similarity are ordinarily used to evaluate preparedness of candidate countries to join the Eurozone …. The results indicate continuing convergence of the business cycle similarity between the candidate and Eurozone member …
Persistent link: https://www.econbiz.de/10011435274
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Convergence in GDP per Capita in the Euro Area and the EU at the Time of COVID-19
Licchetta, Mirko; Mattozzi, Giovanni - In: Intereconomics 58 (2023) 1, pp. 43-51
This paper investigates determinants of convergence in GDP per capita in the euro area and the EU between 1995 and 2021. It finds that the COVID-19 crisis temporarily slowed convergence but the estimated negative impact is significantly smaller than during the global financial crisis. Diverging...
Persistent link: https://www.econbiz.de/10014334683
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Adjusting to the euro
Fagan, Gabriel; Gaspar, Vítor - 2007
In this paper we argue that, for a group of converging economies of the European Union, participation in the euro area has been associated with easier access to financing by domestic economic agents. Easier access to financing was a significant impulse leading to a sharp increase in households'...
Persistent link: https://www.econbiz.de/10011604762
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Convergence and anchoring of yield curves in the euro area
Ehrmann, Michael; Fratzscher, Marcel; Gürkaynak, Refet S. - 2007
We study the convergence of European bond markets and the anchoring of inflation expectations in euro area countries using high-frequency bond yield data for France, Germany, Italy and Spain. We find that Economic and Monetary Union (EMU) has led to substantial convergence in euro area sovereign...
Persistent link: https://www.econbiz.de/10011604863
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Macroeconomic adjustment to monetary union
Fagan, Gabriel; Gaspar, Vítor - 2008
The move to monetary union in Europe led to convergence of interest rates among the participating countries. This was associated with notable cross-country differences in the behaviour of key macroeconomic aggregates. Compared to the low interest rate countries, former high interest rate...
Persistent link: https://www.econbiz.de/10011604992
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Determinants of inflation and price level differentials across the euro area countries
Andersson, Malin; Masuch, Klaus; Schiffbauer, Marc - 2009
This paper analyses the determinants of inflation differentials and price levels across the euro area countries. Dynamic panel estimations for the period 1999-2006 show that inflation differentials are primarily determined by cyclical positions and inflation persistence. The persistence in...
Persistent link: https://www.econbiz.de/10011605175