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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
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Automatic stabilizers and economic crisis: US vs. Europe
Dolls, Mathias; Fuest, Clemens; Peichl, Andreas - 2009
This paper analyzes the effectiveness of the tax and transfer systems in the European Union and the US to act as an automatic stabilizer in the current economic crisis. We find that automatic stabilizers absorb 38 per cent of a proportional income shock in the EU, compared to 32 per cent in the...
Persistent link: https://www.econbiz.de/10010269611
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Returning home at times of trouble? Return migration of EU enlargement migrants during the crisis
Zaiceva, Anzelika; Zimmermann, Klaus F. - 2012
The eastern enlargements of the EU in 2004 and 2007 have stimulated the mobility of workers from the new EU8 and EU2 countries. A significant proportion of these migrants stayed abroad only temporarily, and the Great recession may have triggered return intentions. However, a return may be...
Persistent link: https://www.econbiz.de/10010291457
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The EU's role in supporting crisis-hit countries in Central and Eastern Europe
Darvas, Zsolt - 2009
The crisis has hit central and eastern European countries harder than other regions of the world. In this policy contribution Resident Scholar Zsolt Darvas looks at the role of the EU and its institutions in supporting crisis-hit CEE countries; the stabilising effects of the EU's coordinated...
Persistent link: https://www.econbiz.de/10010273719
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How important are foreign shocks in small open economy? The case of Slovakia
Horváth, Roman; Rusnák, Marek - 2008
In this paper, we provide evidence on the nature and the relative importance of domestic and foreign shocks in Slovak economy based on block-restriction vector autoregression model in 1999-2007. We document well-functioning monetary transmission mechanism in Slovakia. Subject to various...
Persistent link: https://www.econbiz.de/10010322189
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Current Account Imbalances and Structural Adjustment in the Euro Area: How to Rebalance Competitiveness
Zemanek, Holger; Belke, Ansgar; Schnabl, Gunther - 2009
Low international competitiveness of a set of euro area countries, which have become evident by large current account deficits and rising risk premiums on government bonds, is one of the most challenging economic policy issues for Europe. We analyse the role of private restructuring and public...
Persistent link: https://www.econbiz.de/10010331421
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The performance and robustness of interest-rate rules in models of the euro area
Adalid, Ramón; Coenen, Günter; McAdam, Peter; … - 2005
In this paper, we examine the performance and robustness of optimised interest-rate rules in four models of the euro area which differ considerably in terms of size, degree of aggregation, relevance of forward-looking behavioural elements and adherence to micro-foundations. Our findings are...
Persistent link: https://www.econbiz.de/10011604525