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Afonso, António; Schuknecht, Ludger; Tanzi, Vito - 2003

We compute public sector performance (PSP) and efficiency (PSE) indicators, comprising a composite and seven sub-indicators, for 23 industrialised countries. The first four sub-indicators are u0093opportunityu0094 indicators that take into account administrative, education and health outcomes...

Persistent link: https://www.econbiz.de/10009635959

Addressing biodiversity and habitat preservation through measures applied under the Common Agricultural Policy

Jana Poláková; Graham Tucker; Kaley Hart - Institute for European Environmental Policy - 2011

Based on a thorough review of the relationship between agriculture and biodiversity, the purpose of this study is to … and implementation for sustaining biodiversity and associated ecosystem services through agriculture, and how their role … can be enhanced in the future to contribute towards meeting the EU’s biodiversity goals. The interactions between forest …

Persistent link: https://www.econbiz.de/10011439211

Country and sector-specific spillover effects in the euro area, the United States and Japan

Kaltenhaeuser, Bernd - 2003

Within a two-step GARCH framework we explore the linkages between equity returns of ten sectors in the euro area, the United States and Japan, respectively. Our estimation framework allows a distinction to be made between spillover effects originating from one of the three currency areas and...

Persistent link: https://www.econbiz.de/10009635881

Identifying fiscal shocks and policy regimes in OECD countries

Arcangelis, Giuseppe de; Lamartina, Serena - 2003

The aim of this paper is twofold. First, for West Germany, France, Italy and US, we econometrically select within a SVAR model some fiscal policy regimes, i.e. a u0094set of rulesu0094 for the implementation of fiscal policies. Second, we identify the fiscal policy shocks related to different...

Persistent link: https://www.econbiz.de/10009635887

US, Japan and the euro area

McAdam, Peter - 2003

There has been much discussion of the differences in macroeconomic performance and prospects between the US, Japan and the euro area. Using Markov-switching techniques, in this paper we identify and compare specifically their major business-cycle features and examine the case for a common...

Persistent link: https://www.econbiz.de/10009635889

Measuring the time-inconsistency of US monetary policy

Surico, Paolo - 2003

end up generating a systematic inflation bias through the private sector expectations of a larger policy response in … from the pre- to the post-Volcker regime, the average inflation bias, which is about one percent before 1979, tends to …

Persistent link: https://www.econbiz.de/10009635891

Identifying the monetary transmission mechanism using structural breaks

Beyer, Andreas; Farmer, Roger E. A. - 2003

the recoverable structure. As an application of our method we estimate the parameters of a model of the USA monetary …

Persistent link: https://www.econbiz.de/10009635894

On the indeterminacy of determinacy and indeterminacy

Beyer, Andreas; Farmer, Roger E. A. - 2003

A number of authors have attemted to test whether the U.S. economy is in a determinate or an indeterminate equilibrium. We argue that to answer this question, one must be impose a priori restrictions on lag length that cannot be tested. We provide examples of two economic models. Model 1...

Persistent link: https://www.econbiz.de/10009635896

The output composition puzzle

Angeloni, Ignazio; Kashyap, Anil K.; Mojon, Benoît; … - 2003

We revisit recent evidence on how monetary policy affects output and prices in the U.S. and in the euro area. The response patterns to a shift in monetary policy are similar in most respects, but differ noticeably as to the composition of output changes. In the euro area investment is the...

Persistent link: https://www.econbiz.de/10009635907

Macroeconomic modelling of monetary policy

Klaeffling, Matt - 2003

This paper proposes a new paradigm for the analysis of monetary policy. From an econometric point of view this new approach is just as easy to implement as reduced form analysis, but is robust to the Lucas critique. It requires no explicit prior theory and yet it encompasses all standard DSGE...

Persistent link: https://www.econbiz.de/10009635920

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