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n recent macroeconomic theory, relative price variability (RPV) generates the central distortions of inflation. This paper provides first evidence on the empirical relation between inflation and RPV in the euro area focusing on threshold effects of inflation. We find that expected inflation...
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We examine real business cycle convergence for 41 euro area regions and 48 US states. Results obtained by a panel model … ; spatial correlation ; spatial panel model …
Persistent link: https://www.econbiz.de/10003807457
period 1970-2007, for different EU and OECD country groupings. We use the panel-data approach of Kónya (2006), which is based … effective real exchange rate in the SUR system does not substantially alter the results. -- Panel causality tests ; budget …
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This paper compares impulse responses to monetary policy shocks in the euro area countries before the EMU and in the New Member States (NMS) from central-eastern Europe. We mitigate the small sample problem, which is especially acute for the NMS, by using a Bayesian estimation that combines...
Persistent link: https://www.econbiz.de/10003825885
We study smoking persistence in ten countries using data from the European Community Household Panel. Such persistence … two by using semi-parametric dynamic panel data methods applied to both the decision to smoke or not and to the decision … model. -- Smoking ; panel data ; selectivity …
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