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In the present paper we question the mainstream diagnosis of Germany's post-2000 stagnation as well as the prescribed remedies. We show that the "institutional sclerosis" view of Germany's stagnation is unfounded and that therefore the political measures proposed and actually taken are...
Persistent link: https://www.econbiz.de/10003744530
considering the economic growth as dependent variable in function of the convergence hypothesis, the inflation rate, the public … expense and, the recursive variance of the inflation (VARINF) as inflationary memory indicator. The expected results of the … panel were that the inflation and their variability affect the growth negatively neutralizing the possible effects that it …
Persistent link: https://www.econbiz.de/10008758758
situation helps to explain the surge in the country's inflation and its very high growth in financial condition from late 2007 …
Persistent link: https://www.econbiz.de/10008826302
economic growth. This paper examines the roles of three other factors: primary budget surpluses, surprise inflation, and pegged … inflation and the pre-Accord peg. In this counterfactual, debt/GDP declines only to 74% in 1974, not 23% as in actual history …
Persistent link: https://www.econbiz.de/10014337810
In a recent paper, Atkeson and Kehoe (2004) demonstrated the lack of a robust empirical relationship between inflation … relationship by allowing for inflation and growth to have a nonlinear specification dependent on inflation levels. In particular …, we allow for the possibility that high inflation is negatively correlated with growth, while a positive relationship …
Persistent link: https://www.econbiz.de/10012729476
The main objective of this study is to empirically examine the relationship between inflation and economic growth in … relationship between inflation and GDP growth is non-linear with a subsistence of a breakpoint, which means the inverted U …-shape curve. Moreover, the Granger Causality shows that economic growth does granger cause inflation. The empirical result …
Persistent link: https://www.econbiz.de/10013239116
The report focuses on the relative macroeconomic performance since the global financial crisis of six Northern European countries with a special emphasis on Finland. While fiscal and monetary policies have definitely impacted on macroeconomic outcomes in the six countries examined, as a whole...
Persistent link: https://www.econbiz.de/10012037669
Macroeconomic adjustment in the euro area periphery was more recessionary than pre-crisis imbalances would have warranted. To make this claim, this paper uses a Propensity Score Matching Model to produce counterfactuals for the Eurozone crisis countries (Greece, Portugal, Ireland, Cyprus, Spain)...
Persistent link: https://www.econbiz.de/10012033212
and the media, is that a combination of credible inflation targetting regimes, flexible exchange rates, and fiscal … economy, to maximise the inflow of private foreign capital motivated by attractive rates of return, and to stabilise inflation …
Persistent link: https://www.econbiz.de/10012837879
This study analyses the performance of macroeconomic policy in South Africa in 2007- 2020 and outlines challenges for policy in the coming decade. After remarkable economic growth in 1997-07, South Africa's progress slowed dramatically in 2009 with the global financial crisis. Real GDP growth...
Persistent link: https://www.econbiz.de/10012816459