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The dynamic behaviour of budget components and output

Afonso, António; Claeys, Peter - 2007

The main focus of this paper is the relation between the cyclical components of total revenues and expenditures and the budget balance in France, Germany, Portugal, and Spain. We try to uncover past trends behind the development of public finances that contribute to explaining the current stance...

Persistent link: https://www.econbiz.de/10011604821

International evidence on sticky consumption growth.

Carroll, Christopher D.; Slacalek, Jiri; Sommer, Martin - 2008

We estimate the degree of ‘stickiness’ in aggregate consumption growth (sometimes interpreted as reflecting consumption habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high degree of auto-correlation, with a stickiness...

Persistent link: https://www.econbiz.de/10011604932

Country and industry equity risk premia in the euro area: an intertemporal approach

Cappiello, Lorenzo; Lo Duca, Marco; Maddaloni, Angela - 2008

This paper provides new evidence on the dynamics of equity risk premia in euro area stock markets across country and industry portfolios. We develop and estimate a conditional intertemporal CAPM where returns on aggregate euro area, country and industry portfolios depend on the market risk as...

Persistent link: https://www.econbiz.de/10011604959

Evolution and sources of manufacturing productivity growth: evidence from a panel of European countries

Giannangeli, Silvia; Gómez-Salvador, Ramón - 2008

The study aims at describing productivity growth in the manufacturing sector for a selected panel of five European countries using firm-level data. The paper explores the empirical regularities of firm productivity distribution across countries. In particular, we assess the degree of persistence...

Persistent link: https://www.econbiz.de/10011604960

Sticky information Phillips curves: European evidence

Döpke, Jörg; Dovern, Jonas; Fritsche, Ulrich; … - 2008

We estimate the sticky information Phillips curve model of Mankiw and Reis (2002) using survey expectations of professional forecasters from four major European economies. Our estimates imply that inflation expectations in France, Germany and the United Kingdom are updated about once a year, in...

Persistent link: https://www.econbiz.de/10011604976

The impact of financial position on investment: an anlysis for non-financial corporations in the euro area

Martinez-Carrascal, Carmen; Ferrando, Annalisa - 2008

This paper analyses the impact that firms financial position has on investment decisions using panel data from a large sample of non-financial corporations(around 120,000 firms) in six euro area countries(Belgium, Germany, France, Italy, the Netherlands and Spain). The results indicate that...

Persistent link: https://www.econbiz.de/10011604989

Relative house price dynamics across euro area and US cities: convergence or divergence?

Hiebert, Paul; Roma, Moreno - 2010

This paper examines the time varying dispersion in city house price levels across the four biggest euro area countries compared with those in the United States. Using available city-level data over the period 1987-2008, it tests for price convergence and analyses key factors explaining price...

Persistent link: https://www.econbiz.de/10011605252

Towards expenditure rules and fiscal sanity in the euro area

Hauptmeier, Sebastian; Sanchez Fuentes, Jesus; … - 2010

The study looks at primary expenditure developments in the euro area, its three largest members and four “macro-imbalances” countries for the period 1999-2009. It compares actual expenditure trends with those that would have prevailed if countries had followed neutral policies based on...

Persistent link: https://www.econbiz.de/10011605312

Umsatzrenditen, empirische Bestandsaufnahme und ökonometrische Ursachenanalyse für sechs Industrieländer

Lichtblau, Karl; Schäfer, Holger; Stolte, Iris - In: IW-Trends - Vierteljahresschrift zur empirischen … 29 (2002) 2, pp. 37-45

Im Jahr 2000 erwirtschafteten deutsche Unternehmen Gewinne, die nach Steuern 2,4 Prozent ihres Umsatzes erreichten. Damit lagen sie in einem 18-Länder-Vergleich an viertschlechtester Stelle. Geringere Nettoumsatzrenditen gab es nur noch in Tschechien, Italien und Polen. Eine tiefer gehende...

Persistent link: https://www.econbiz.de/10011633083

Deutsch-französische Wirtschaftsperformance im Vergleich

Matthes, Jürgen - In: IW-Trends - Vierteljahresschrift zur empirischen … 30 (2003) 1, pp. 13-23

Frankreich lediglich in den Jahren 1998 und 1999 im Gegensatz zu Deutschland einen sehr kräftigen, aber bald darauf wieder … Vergleich zu Deutschland ausgeprägte Lohnzurückhaltung Frankreichs in den Vorjahren zurückzuführen ist. Zudem haben … reguliert ist als der deutsche. Die Wachstumsbedingungen sind insgesamt gesehen in Frankreich nicht besser als in Deutschland. …

Persistent link: https://www.econbiz.de/10011633097