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Niederlande und Italien von 1973 bis 2001. Abhängigkeit wird dabei gemessen anhand der bedingten Wahrscheinlichkeit einer …
Persistent link: https://www.econbiz.de/10010295729
In this paper, we present a disaggregated framework for the analysis of past and projected structural developments in the most relevant revenue and expenditure categories and the fiscal balance. The framework, in particular, distinguishes between the effects of discretionary fiscal policy and of...
Persistent link: https://www.econbiz.de/10010295793
This paper is the first attempt to investigate the performance of different learning rules in fitting survey data of household and expert inflation expectations in five core European economies (France, Germany, Italy, Netherlands and Spain). Overall it is found that constant gain learning...
Persistent link: https://www.econbiz.de/10010295853
This paper provides a textbook example of integration between commodity markets, and the subsequent price convergence or absence thereof. We analyze price relations between spot markets for natural gas in Europe. We apply time-varying coefficient estimation applying the Kalman filter, to test...
Persistent link: https://www.econbiz.de/10010296793
A detailed decomposition of the sources of the Total Factor Productivity (TFP) growth index within an output distance function framework was carried out, looking at the following components: technical change, change in technical efficiency, scale component, and violations of the profit...
Persistent link: https://www.econbiz.de/10010297110
We estimate peer effects for fourth graders in six European countries. The identification relies on variation across classes within schools. We argue that classes within primary schools are formed roughly randomly with respect to family background. Similar to previous studies, we find sizeable...
Persistent link: https://www.econbiz.de/10010297535
The main characteristic of the implementation of the European Monetary Union (EMU) is the transition from various national currencies to the Euro, the common European currency. A final fixing of the individual bilateral exchange rates of all European countries involved in the Monetary Union...
Persistent link: https://www.econbiz.de/10010297617
German unifikation hit the West German economy in a prosperous and appeared as a huge demand shock at least for the first few quarters. This combination resulted in a major increase of imports from the main trading partners of West Germany, which may have helped to cushion recessionary trends...
Persistent link: https://www.econbiz.de/10010297698
Total employment in Germany is supposed to increase if people could realize their desired working hours. However, this back-of-the-envelope calculation overestimates the effect of loosening hours constraints, because even in a very flexible labor market there will exist hours restrictions for...
Persistent link: https://www.econbiz.de/10010297718
We study the pass-through of exchange rate changes to consumer prices for the euro area by estimating vector error correction models for Germany, France, Italy, the Netherlands and Spain. Using the weights of the Harmonized Index of Consumer Prices (HICP) we compute a weighted average of the...
Persistent link: https://www.econbiz.de/10010298101