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What's "structural" about unemployment in Europe : on the determinants of the European Commission's NAIRU estimates
Heimberger, Philipp; Kapeller, Jakob; Schütz, Bernhard - 2016
This paper analyzes the determinants of the European Commission's NAIRU estimates for 14 European OECD countries during … 1985-2012. The NAIRU is a poor proxy for 'structural unemployment': Labor market institutions - employment protection … legislation, union density, tax wedge, minimum wages - underperform in explaining the NAIRU, while cyclical variables - capital …
Persistent link: https://www.econbiz.de/10011779361
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The European Commission's new NAIRU : does it deliver?
Gechert, Sebastian; Rietzler, Katja; Tober, Silke - 2014
The NAIRU is a key component of potential output and as such critically affects output gap estimates. In May 2014, the … European Commission changed its specification of the NAIRU for several countries and lowered its NAIRU estimates - in the case … of Spain from 26.6% to 20.7% for 2015. To test the dependence of the new NAIRU on unemployment versus structural factors …
Persistent link: https://www.econbiz.de/10010458229
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Towards a single performance indicator in the EU's fiscal governance framework : an assessment of the expenditure and structural balance rules in the European fiscal governance fra...
Benalal, Nicholai; Freier, Maximilian; Melyn, Wim; … - 2022
A key element of the European reform agenda is to simplify the EU fiscal governance framework by moving towards a single debt anchor and a single operational indicator as the basis for formulating fiscal targets and assessing compliance. This paper puts forward an in-depth analysis of two...
Persistent link: https://www.econbiz.de/10012800643
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The Economic Impact of Next Generation EU : A Euro Area Perspective
Bańkowski, Krzysztof; Bouabdallah, Othman; Semeano, … - 2022
This paper assesses the potential economic impact of Next Generation EU (NGEU), focusing on the euro area. Its findings suggest that the envisaged national investment and reform plans present a coherent package to support both recovery from the pandemic-induced crisis and longer-term...
Persistent link: https://www.econbiz.de/10013291193
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The economic impact of next generation EU : a euro area perspective
Bańkowski, Krzysztof; Bouabdallah, Othman; Semeano, … - 2022
This paper assesses the potential economic impact of Next Generation EU (NGEU), focusing on the euro area. Its findings suggest that the envisaged national investment and reform plans present a coherent package to support both recovery from the pandemic-induced crisis and longer-term...
Persistent link: https://www.econbiz.de/10013188827
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The Macroeconomic Impact of the Next Generation EU Instrument on the Euro Area
Bańkowski, Krzysztof; Ferdinandusse, M.; Hauptmeier, … - 2021
In response to the economic fallout from the coronavirus (COVID-19) pandemic, the European Council agreed on the Next Generation EU (NGEU) instrument. NGEU allows the European Commission to issue debt to finance grants and loans to EU Member States, with the disbursement of funds intended to be...
Persistent link: https://www.econbiz.de/10013243839
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The macroeconomic impact of the Next Generation EU instrument on the euro area
Bańkowski, Krzysztof; Ferdinandusse, Marien; … - 2021
In response to the economic fallout from the coronavirus (COVID-19) pandemic, the European Council agreed on the Next Generation EU (NGEU) instrument. NGEU allows the European Commission to issue debt to finance grants and loans to EU Member States, with the disbursement of funds intended to be...
Persistent link: https://www.econbiz.de/10012417434
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Subsidising car purchases in the euro area : any spill-over on production?
Paredes, Joan - 2017
Due to input-output linkages, an industry level shock can widely transmit to the rest of the economy. We identify government policies on the automobile industry, which change final prices and estimate their effect on sales and production. An example could be the scrappage schemes that many...
Persistent link: https://www.econbiz.de/10011710106
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Subsidising Car Purchases in the Euro Area : Any Spill-Over on Production?
Paredes, Joan - 2017
Due to input-output linkages, an industry level shock can widely transmit to the rest of the economy. We identify government policies on the automobile industry, which change final prices and estimate their effect on sales and production. An example could be the scrappage schemes that many...
Persistent link: https://www.econbiz.de/10012949115
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Macroeconomic effects of carbon transition policies : an assessment based on the ECB's New Area-Wide Model with a disaggregated energy sector
Coenen, Günter; Lozej, Matija; Priftis, Romanos - 2023
We use scenario analysis to assess the macroeconomic effects of carbon transition policies aimed at mitigating climate change. To this end, we employ a version of the ECB's New Area-Wide Model (NAWM) augmented with a framework of disaggregated energy production and use, which distinguishes...
Persistent link: https://www.econbiz.de/10014315252