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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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Trends and cycles in the euro area: how much heterogeneity and should we worry about it?
Giannone, Domenico; Reichlin, Lucrezia - 2006
Not so much and we should not, at least not yet.
Persistent link: https://www.econbiz.de/10011604641
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Gauging the effects of fiscal stimulus packages in the euro area
Coenen, Günter; Straub, Roland; Trabandt, Mathias - 2012
We seek to quantify the impact on euro area GDP of the European Economic Recovery Plan (EERP) enacted in response to the financial crisis of 2008-09. To do so, we estimate an extended version of the ECB’s New Area-Wide Model with a richly specified fiscal sector. The estimation results point...
Persistent link: https://www.econbiz.de/10011605528
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Business cycles in the euro area
Giannone, Domenico; Lenza, Michele; Reichlin, Lucrezia - 2009
This paper shows that the EMU has not affected historical characteristics of member countries’ business cycles and their cross-correlations. Member countries which had similar levels of GDP per-capita in the seventies have also experienced similar business cycles since then and no significant...
Persistent link: https://www.econbiz.de/10011605056
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Towards a monthly business cycle chronology for the euro area
Mönch, Emanuel; Uhlig, Harald - 2005
This paper is an exercise in dating the Euro area business cycle on a monthly basis. Using a quite flexible interpolation routine. we construct several monthly series of Euro area GDP, and then apply the Bry-Boschan (1971) procedure. To account for the asymmetry in growth regimes and duration...
Persistent link: https://www.econbiz.de/10010319190
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Forecast for the European Economy
Leibfritz, Willi - In: CESifo Forum 02 (2001) 1, pp. 21-27
Persistent link: https://www.econbiz.de/10011695643
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Migration as an adjustment mechanism in the crisis? A comparison of Europe and the United States
Jauer, Julia; Liebig, Thomas; Martin, John P.; Puhani, … - 2014
disparities, in particular within the Eurozone where there is no exchange-rate mechanism available to play this role. We shed some …-country nationals. Even within the group of Eurozone nationals, a significant part of the free mobility stems from immigrants from third … countries who have taken on the nationality of their Eurozone host country. …
Persistent link: https://www.econbiz.de/10010478924
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Migration as an adjustment mechanism in the crisis? A comparison of Europe and the United States
Jauer, Julia; Liebig, Thomas; Martin, John P.; Puhani, … - 2014
disparities, in particular within the Eurozone where there is no exchange-rate mechanism available to play this role. We shed some … be absorbed by migration within a year. However, in the Eurozone the reaction mainly stems from migration of third …-country nationals. Even within the group of Eurozone nationals, a significant part of the free mobility stems from immigrants from third …
Persistent link: https://www.econbiz.de/10010484712
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Loan supply shocks during the financial crisis: Evidence for the Euro Area
Hristov, Nikolay; Hülsewig, Oliver; Wollmershäuser, Timo - 2011
This paper employs a panel vector autoregressive model for the member countries of the Euro Area to explore the role of banks during the slump of the real economy that followed the financial crisis. In particular, we seek to quantify the macroeconomic effects of adverse loan supply shocks, which...
Persistent link: https://www.econbiz.de/10010274998