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Profit dynamics across the largest euro area countries and sectors
Maurin, Laurent; Roma, Moreno; Vetlov, Igor - 2011
of historical developments in profits across countries and sectors. - Profits, sectoral determinants ; VARs ; impulse …This paper explores the behavior of profits in the four largest euro area countries (Germany, France, Italy and Spain … a vector autoregressive modeling framework, discusses the sensitivity of profits to four distinctive structural shocks …
Persistent link: https://www.econbiz.de/10009405591
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Profit Dynamics Across the Largest Euro Area Countries and Sectors
Maurin, Laurent - 2011
This paper explores the behavior of profits in the four largest euro area countries (Germany, France, Italy and Spain … a vector autoregressive modeling framework, discusses the sensitivity of profits to four distinctive structural shocks … of historical developments in profits across countries and sectors …
Persistent link: https://www.econbiz.de/10013117688
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Medium Run Redux : Technical Change, Factor Shares and Frictions in the Euro Area
McAdam, Peter - 2008
We develop a framework for analyzing quot;medium-runquot; departures from balanced growth, and apply it to the economies of continental Europe. A time-varying factor-augmenting production function (mimicking quot;directedquot; technical change) with a below-unitary substitution elasticity...
Persistent link: https://www.econbiz.de/10012771612
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Potential Output from a Euro Area Perspective
Anderton, Robert - 2015
This paper reviews potential output from a euro area perspective by summarising the developments according to international institutions and assessing the impact of the crisis. The paper also considers the methodological basis for potential output estimates, and the high degree of uncertainty...
Persistent link: https://www.econbiz.de/10013032604
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Euro Area Production Function and Potential Output : A Supply Side System Approach
Willman, Alpo - 2021
In this paper, we present a three equation supply-side model based on aggregation across sectors with sector specific mark-ups and the technology parameters of the production function. The model has been applied to euro area data from the 1970s assuming that the underlying production function is...
Persistent link: https://www.econbiz.de/10013320231
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The spillover of euro area shocks to the Maltese economy
Gatt, William; Ruisi, Germano - 2022
This paper develops a two-block Structural Vector Autoregression (SVAR) to estimate the spillover of external shocks to the Maltese economy. The model focuses on five broad macroeconomic shocks hitting the euro area; an aggregate demand shock, two aggregate supply shocks which respectively proxy...
Persistent link: https://www.econbiz.de/10012818649
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Measuring the effects of monetary policy in the euro area : the role of anticipated policy
Gottschalk, Jan; Höppner, Florian - 2001 - This Version: August 2001
This paper investigates within a SVAR framework the effects of anticipated monetary policy in the euro area. Building on a procedure recently proposed by Cochrane yielding the response of output to an anticipated monetary policy impulse, we show that in the past twenty years anticipated monetary...
Persistent link: https://www.econbiz.de/10011538850
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International housing markets, unconventional monetary policy and the zero lower bound
Huber, Florian; Punzi, Maria Teresa - 2016
In this paper we propose a time-varying parameter VAR model for the housing market in the United States, the United Kingdom, Japan and the Euro Area. For these four economies, we answer the following research questions: (i) How can we evaluate the stance of monetary policy when the policy rate...
Persistent link: https://www.econbiz.de/10011436459
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Macroeconomic Uncertainty, Growth and Inflation in the Eurozone : A Causal Approach
Plakandaras, Vasilios - 2017
In this paper, we evaluate the causal relationship between macroeconomic uncertainty indices, inflation and growth rate for 17 Eurozone countries on a county level examination. In performing a series of linear and non-linear causality tests we find little evidence of a causal relationship...
Persistent link: https://www.econbiz.de/10012945818
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Mind the Gap : What is the Best Measure of Slack in the Euro Area?
Ubide, Angel J. - 2021
Assessing the magnitude of the output gap is critical to achieving an optimal policy mix. Unfortunately, the gap is an unobservable variable, which, in practice, has been estimated in a variety of ways, depending on the preferences of the modeler. This model selection problem leads to a...
Persistent link: https://www.econbiz.de/10013211944