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Equilibrium real interest rates, secular stagnation, and the financial cycle : empirical evidence for euro-area member countries
Belke, Ansgar; Klose, Jens - 2018
Is the Euro area as a whole, or are individual Euro-area member countries facing a period of sustained lower economic …, we expand our model to incorporate the financial cycle. We estimate the model for the Euro area as a whole and for nine … Euro-area member countries. Incorporating the financial cycle changes the estimated equilibrium real interest rates: For …
Persistent link: https://www.econbiz.de/10011894437
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Fiscal rules in economic crisis : the trade-off between consolidation and recovery, from a European perspective
Díaz Roldán, Carmen; Ferrari Filho, Fernando; Da … - In: Economics / Journal articles : the open-access, … 15 (2021) 1, pp. 199-216
In this study, we will perform a simulation exercise to investigate whether the use of explicit fiscal rules improves the macroeconomic performance in the economic framework of the European Union (EU), where the fall in income levels occurred very asymmetrically, and this has accentuated the...
Persistent link: https://www.econbiz.de/10013252537
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Recent patterns of economic alignment in the European (Monetary) Union
Gehringer, Agnieszka; König, Jörg - In: Journal of risk and financial management : JRFM 14 (2021) 8, pp. 1-23
This paper studies the process of business cycle synchronization in the European Union and the euro area. As our … in the core and peripheral members of the euro area. Our analysis of quarterly data covering the first two decades of the … euro area shows that there was a certain synchronization tendency in the first years of the common currency. However, the …
Persistent link: https://www.econbiz.de/10012626655
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The Pre-Great Recession Slowdown in Productivity
Cette, Gilbert - 2016
In the years since the Great Recession, many observers have highlighted the slow pace of productivity growth around the world. For the United States and Europe, we highlight that this slow pace began prior to the Great Recession. The timing thus suggests that it is important to consider factors...
Persistent link: https://www.econbiz.de/10012995508
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Business Cycle Synchronicity Within ECOWAS : The Eco-Core and the Eco- Periphery
Habimana, Olivier; Sesay, Vamuyan; Umulisa, Yvonne - 2020
This paper investigates the extent to which business cycles of 15 ECOWAS countries are synchronized; which is one of … GSLIM) business cycles are dissimilar to the rest of the ECOWAS. These four countries count only three percent of total …
Persistent link: https://www.econbiz.de/10014092582
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House Price Cycles in Europe
Corradin, Stefano - 2013
Euro area sovereign debt crisis …
Persistent link: https://www.econbiz.de/10013072994
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In search of the Euro area fiscal stance
Albonico, Alice; Tirelli, Patrizio; Paccagnini, Alessia - 2016
This paper investigates the role of fiscal policies over the aggregate EMU business cycle. Previous studies, based on the assumption of non-separability between public and private consumption, obtain a large public consumption multiplier, a small fraction of non-Ricardian households and,...
Persistent link: https://www.econbiz.de/10011529025
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The euro area government spending multiplier in demand- and supply-driven recessions?
Di Serio, Mario; Fragetta, Matteo; Gasteiger, Emanuel; … - 2023
We estimate government spending multipliers in demand- and supply-driven recessions for the Euro Area. Multipliers in a … moderately demand-driven recession are 2-3 times larger than in a moderately supply-driven recession, with the difference between … from -0.5 in supply-driven recessions to about 2 in demand-driven recessions. The econometric approach leverages a …
Persistent link: https://www.econbiz.de/10014364021
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The euro area government spending multiplier in demand- and supply-driven recessions
Di Serio, Mario; Fragetta, Matteo; Gasteiger, Emanuel; … - 2022
We estimate government spending multipliers in demand- and supply-driven recessions for the Euro Area. Multipliers in a … moderately demand-driven recession are 2-3 times larger than in a moderately supply-driven recession, with the difference between … from -0.5 in supply-driven recessions to about 2 in demand-driven recessions. The econometric approach leverages a factor …
Persistent link: https://www.econbiz.de/10013174156
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Specialization and business cycle co-movement in the Euro area
Azcona, Nestor - In: Atlantic economic journal : AEJ 47 (2019) 2, pp. 193-204
Persistent link: https://www.econbiz.de/10012227845