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How to overcome the crisis of the European growth potential? : the role of the government
Elekes, Andrea; Halmai, Péter - In: European journal of comparative economics 16 (2019) 2, pp. 313-334
We suppose that the dramatic decline in the European output is more than a cyclical diversion from the potential output. We performed a medium term quantitative analysis combining data based on the production function and growth accounting approach. Our results show that the erosion of the...
Persistent link: https://www.econbiz.de/10012259822
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Budgetary forecasts in Europe - the track record of stability and convergence programmes
Strauch, Rolf; Hallerberg, Mark; Hagen, Jürgen von - 2004
We analyse the performance of budgetary and growth forecasts of all stability and convergence programmes submitted by EU member states over the last decade. Differences emerge for the bias in budgetary projections across countries. As a second step we explore whether economic, political and...
Persistent link: https://www.econbiz.de/10009636530
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East-West migration in Europe, 2004 - 2015
Bruder, Jana - 2003
One of the questions in the context of EU-Enlargement is that of East-West Migration. How many people will leave the … emigration. The estimated coefficients are used to forecast future migration. Between 2004 and 2015 about 3.0 million people are … expected to migrate temporarily into Western European countries. Permanent migration will be about 1.7 million people …
Persistent link: https://www.econbiz.de/10011540627
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Staying together or breaking apart : policy-makers endogenous coalitions formation in the European economic and monetary union
Aarle, Bas van; Di Bartolomeo, Giovanni; Engwerda, … - 2002
In this paper, we analyze coordination of macroeconomic stabilization policies within the EMU by focusing, in a dynamic set-up, on asymmetries, externalities, and the existence of a multi-country context. We study how coalitions among fiscal and monetary authorities are formed and what are their...
Persistent link: https://www.econbiz.de/10011410410
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Welfare and inequality effects of debt consolidation processes : the case of Spain, 1996–2007
Viegas, Miguel; Ribeiro, Ana Paula - In: SERIEs : Journal of the Spanish Economic Association 6 (2015) 4, pp. 479-496
effects on economic inequality and welfare. For that purpose we built a general equilibrium heterogeneous-agent model capable …
Persistent link: https://www.econbiz.de/10011417950
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The extended Hodrick-Prescott (HP) filter for spatial regression smoothing
Polasek, Wolfgang - 2011
each observation and we define a smoothness prior similar to the HP filter in time series. This opens a new approach to … model-based smoothers for time series and spatial models based on MCMC. We apply it to the NUTS-2 regions of the European …
Persistent link: https://www.econbiz.de/10009685470
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Demographics and the natural real interest rate : historical and projected paths for the euro area
Papetti, Andrea - 2019
This paper employs an aggregate representation of an overlapping generation (OLG) model quantifying a decrease of the natural real interest rate in the range of -1.7 and -0.4 percentage points in the euro area between 1990 and 2030 due to demographics alone. Two channels contribute to this...
Persistent link: https://www.econbiz.de/10011994650
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Monetary and fiscal policy interaction in the EMU : a dynamic game approach
Aarle, Bas van; Engwerda, Jacob Christiaan; Plasmans, … - 2001
The interaction of monetary and fiscal policies is a crucial issue in a highly integrated economic area as the European Union. We argue that EMU, which introduced a common monetary policy and restrictions on fiscal policy at the national level, increases the need for macroeconomic policy...
Persistent link: https://www.econbiz.de/10011398097
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Comparing fiscal multipliers across models and countries in Europe
Kilponen, Juha; Pisani, Massimiliano; Schmidt, Sebastian; … - 2015
This paper employs fifteen dynamic macroeconomic models maintained within the European System of Central Banks to assess the size of fiscal multipliers in European countries. Using a set of common simulations, we consider transitory and permanent shocks to government expenditures and different...
Persistent link: https://www.econbiz.de/10011587761
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Modeling growth, distribution, and the environment in a stock-flow consistent framework
Naqvi, Syed Ali Asjad - 2015 - This is a revised version of the paper originally published in November 2014
Economic policy in the EU faces a trilemma of solving three challenges simultaneously - growth, distribution, and the environment. In order to assess policies that address these issues simultaneously, economic models need to account for both sector-sector and sector-environment feedbacks within...
Persistent link: https://www.econbiz.de/10011336592