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Downward nominal wage rigidity and the long-run Philips Curve
Coenen, Günter - 2003
This paper summarises the results of a quantitative study of the possible impact of downward nominal wage rigidity on the determination of inflation and output in the euro area and the existence of a non-vertical long-run Phillips curve. The study was undertaken in the context of the review of...
Persistent link: https://www.econbiz.de/10009635901
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Pass-through of external shocks to euro area inflation
Hahn, Elke - 2003
This paper investigates the pass-through of external shocks, i.e. oil price shocks, exchange rate shocks, and non-oil import price shocks to euro area inflation at different stages of distribution (import prices, producer prices and consumer prices). The analysis is based on a VAR model that...
Persistent link: https://www.econbiz.de/10009635958
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Measurement of contagion in banks' equity prices
Gropp, Reint; Moerman, Gerard - 2003
This paper uses the co-incidence of extreme shocks to banksu0092 risk to examine within country and across country contagion among large EU banks. Banksu0092 risk is measured by the first difference of weekly distances to default and abnormal returns. Using Monte Carlo simulations, the paper...
Persistent link: https://www.econbiz.de/10009636520
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Monetary policy shocks in the euro area and global liquidity spillovers
Sousa, João; Zaghini, Andrea - 2004
including a global liquidity aggregate. The impulse responses obtained show that a positive shock to extra-euro area liquidity …
Persistent link: https://www.econbiz.de/10009636532
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What are the spill-overs from fiscal shocks in Europe?
Giuliodori, Massimo; Beetsma, Roel - 2004
We use a Vector Auto Regression (VAR) analysis to explore the (spill-over) effects of fiscal policy shocks in Europe. To enhance comparability with the existing literature, we first analyse the effects of these shocks at the national level. Here, we employ identification based on Choleski...
Persistent link: https://www.econbiz.de/10009636548
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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
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International risk-sharing and the transmission of productivity shocks
Corsetti, Giancarlo; Dedola, Luca; Leduc, Sylvain - 2004
A central puzzle in international finance is that real exchange rates are volatile and, in stark contradiction to effcient risk-sharing, negatively correlated with cross-country consumption ratios. This paper shows that incomplete asset markets and a low price elasticity of tradables can account...
Persistent link: https://www.econbiz.de/10009636531
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Unemployment, hysteresis and transition
León-Ledesma, Miguel; McAdam, Peter - 2003
We quantify the degree of persistence in unemployment rates of transition countries using a variety of methods … presence of unit roots in unemployment. Since this is potentially a narrow definition, we also take into account the existence … of structural breaks and non-linear dynamics in unemployment. Finally, we examine whether CEECsu0092 unemployment …
Persistent link: https://www.econbiz.de/10009635980
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Impact of Accession on the Labour Markets of the New Member States
Applica sprl 37, Rue Van Campenhout 1000 Brussels - 2007
Persistent link: https://www.econbiz.de/10009638685
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Darstellung der Übergänge von Jugendlichen in Europa : Zusammenfassung
Europäische Stiftung zur Verbesserung der Lebens- und … - 2014
Junge Menschen in Europa haben weiterhin große Schwierigkeiten beim Eintritt in den Arbeitsmarkt. Obwohl die Jugendarbeitslosenquote in einigen Mitgliedstaaten allmählich zurückgeht, konnten insgesamt 23 % der jungen Arbeitssuchenden in Europa im Alter zwischen 15 und 24 Jahren in der EU28 im...
Persistent link: https://www.econbiz.de/10010392289