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The allocation of competencies in an international union

Ruta, Michele - 2003

This paper presents a positive theory of centralization of political decisions in an international union. My central claim is that lobbies play a role in determining the assignment of competencies to the union because their power of influence can increase or decrease under centralization. I show...

Persistent link: https://www.econbiz.de/10009639847

Public finances and long-term growth in Europe

De Ávila, Diego Romero; Strauch, Rolf - 2003

In Lisbon the European Council proclaimed a European growth strategy. It considers an average economic u0093growth rate … countries that public finance reform affects trend growth. Focusing on time series patterns, we investigate whether there have … been persistent shifts or trends in economic growth and fiscal variables over the last 40 years. In addition, we estimate a …

Persistent link: https://www.econbiz.de/10009635955

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 benchmarked against the EU. In part of the paper, we work with the concept of linear u0093Hysteresisu0094 as described by the presence of unit roots in unemployment. Since this is...

Persistent link: https://www.econbiz.de/10009635980

Firms' investment decisions in response to demand and price uncertainty

Fuss, Catherine; Vermeulen, Philip - 2004

information on sales growth, but not as a result of reduced uncertainty. …

Persistent link: https://www.econbiz.de/10009639401

Towards the estimation of equilibrium exchange rates for CEE acceding countries

Maeso-Fernandez, Francisco; Osbat, Chiara; Schnatz, Bernd - 2004

This paper provides a discussion of methodological issues relating to the estimation of the long-run relationship between exchange rates and fundamentals for Central and Eastern European acceding countries, focusing on the so-called behavioural equilibrium exchange rate (BEER) approach. Given...

Persistent link: https://www.econbiz.de/10009639407

The impact of supply constraints on bank lending in the euro area

Hempell, Hannah Sabine; Sørensen, Christoffer Kok - 2010

supply and demand effects. We find that even when controlling for the effects coming from the demand side loan growth is …

Persistent link: https://www.econbiz.de/10009640278

Explaining the money demand of non-financial corporations in the Euro area

Martinez-Carrascal, Carmen; Landesberger, Julian von - 2010

This paper analyses euro area non-financial corporations (NFC) money demand, both from a macro and a microeconomic point of view. At a macro level, money holdings are modelled as a function of real gross added value, the price level, the long-term interest rate on bank lending to non-financial...

Persistent link: https://www.econbiz.de/10009640283

Household money holdings in the euro area

Seitz, Franz; Landesberger, Julian von - 2010

In this paper we analyse household holdings of the broad monetary aggregate M3 in the euro area from 1991 until 2009. We develop four models, two in nominal, two in real terms, with satisfactory economic and statistical properties. The main determinants are a transactions variable, wealth...

Persistent link: https://www.econbiz.de/10009640302

Fiscal policy and growth

Afonso, António; Grüner, Hans Peter; Kolerus, Christina - 2010

In this paper we assess to what extent in the existence of a financial crisis, government spending can contribute to mitigate economic downturns in the short run and whether such impact differs in crisis and non crisis times. We use panel analysis for a set of OECD and non-OECD countries for the...

Persistent link: https://www.econbiz.de/10009640323

Efficiency and risk in european banking

Fiordelisi, Franco; Marques-Ibanez, David; Molyneux, Phil - 2010

We analyze the impact of efficiency on bank risk. We also consider whether bank capital has an effect on this relationship. We model the inter-temporal relationships among efficiency, capital and risk for a large sample of commercial banks operating in the European Union. We find that reductions...

Persistent link: https://www.econbiz.de/10009640329