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Imposing parsimony in cross-country growth regressions

Jarociński, Marek - 2010

The number of variables related to long-run economic growth is large compared with the number of countries. Bayesian model averaging is often used to impose parsimony in the cross-country growth regression. The underlying prior is that many of the considered variables need to be excluded from...

Persistent link: https://www.econbiz.de/10009640306

Sustainability of the Estonian macroeconomic performance in the light of the EU membership

Olenko, Katrin - 2004

Estonia with the EU-15 and the former accession countries. It gives an overview of the nominal convergence according to the … rules laid down by EC Treaty on EMU convergence criteria. In the context of real convergence the set of criteria provided by …

Persistent link: https://www.econbiz.de/10009636773

Convergence of real GDP per capita in the EU15: How do the accession countries fit in?

Kaitila, Ville - 2004

. Convergence occurred in two spells, in 1960u009673 and 1986u00962001, with an interim period of stagnation. In this paper, we … analyse both s and b convergence and discuss the impact of EU membership, trade and investment. We also analyse how seven … growth in the accession countries. Still, the experience of the EU15 countries shows that convergence cannot be taken for …

Persistent link: https://www.econbiz.de/10009636868

Convergence and reunification in Cyprus: Scope for a virtuous circle

Noë, Willem; Watson, Max - 2005

Persistent link: https://www.econbiz.de/10009698435

Commission´s assessment of the 2005 update of the convergence programme of Denmark

Europäische Kommission / Generaldirektion Wirtschaft … - 2006

The 2005 update of the Danish convergence programme, covering the period up to 2010, was submitted to the Commission on … broadly follows the model structure for stability and convergence programmes specified in the new code of conduct. …

Persistent link: https://www.econbiz.de/10011902409

Capital quality improvement and the sources of growth in the euro area

Sakellaris, Plutarchos; Vijselaar, Focco W. - 2004

Capital quality improvement is a general phenomenon. Therefore quality correction is needed in price indexes. There is substantial evidence of biases in the official price indexes of capital equipment. We apply to euro area statistics estimates of these biases based on US data thus deriving...

Persistent link: https://www.econbiz.de/10009639422

Productivity and the ('synthetic') euro-dollar exchange rate

Schnatz, Bernd; Vijselaar, Focco; Osbat, Chiara - 2003

This paper analyses the impact of productivity developments in the United States and the euro area on the euro-dollar exchange rate. The paper presents a new measure of relative average labour productivity (ALP), which does not suffer from the biases implicit in readily available relative ALP...

Persistent link: https://www.econbiz.de/10009639842

Banking sector output measurement in the euro area

Colangelo, Antonio; Inklaar, Robert - 2010

Banks do not charge explicit fees for many of the services they provide but the service payment is bundled with the offered interest rates. This output therefore has to be imputed using estimates of the opportunity cost of funds. We argue that rather than using the single short-term, low-risk...

Persistent link: https://www.econbiz.de/10009640336

Social returns to education

Canton, Erik - 2007

This paper presents new evidence on the social returns to education within a macroeconomic growth regression framework. I use improved schooling data and a macro version of the Mincer relationship between education and wages for individual workers. The results suggest that an increase by one...

Persistent link: https://www.econbiz.de/10009640173

The impact of high and growing government debt on economic growth

Checherita, Cristina; Rother, Philipp - 2010

This paper investigates the average impact of government debt on per-capita GDP growth in twelve euro area countries over a period of about 40 years starting in 1970. It finds a non-linear impact of debt on growth with a turning point—beyond which the government debt-to-GDP ratio has a...

Persistent link: https://www.econbiz.de/10009640303