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Using a modified version of the model presented by Belke and Gros (2007), we analyze the stability of adjustment in a currency union. Using econometric estimates for parameter values we check the stability conditions for the 11 original EMU countries and Greece. We found significant instability...
Persistent link: https://www.econbiz.de/10003915319
Using a modified version of the model presented by Belke and Gros (2007), we analyze the stability of adjustment in a currency union. Using econometric estimates for parameter values we check the stability conditions for the 11 original EMU countries and Greece. We found significant instability...
Persistent link: https://www.econbiz.de/10010425867
wages to increase beyond productivity increases. The augmented Balassa-Samuelson model is extended to trace cyclical …
Persistent link: https://www.econbiz.de/10011373258
wages to increase beyond productivity increases. The augmented Balassa-Samuelson model is extended to trace cyclical …
Persistent link: https://www.econbiz.de/10011443937
Persistent link: https://www.econbiz.de/10010395313
Inflation differentials in the Euro area are mainly due to a sustained divergence of wage developments across the Euro … inflation using unit labour cost (ULC) growth and applying PANIC (Bai and Ng, 2004) and cluster procedures (Hobijn and Franses …
Persistent link: https://www.econbiz.de/10010426362
This paper compares relative unit labour cost developments in the countries of the euro-area since the beginning of the European Monetary Union (EMU) both with historical developments and with intra-regional unit labour cost developments in the United States of America and Germany. To this end,...
Persistent link: https://www.econbiz.de/10010426369
Persistent link: https://www.econbiz.de/10011974199
development have significantly positive effects on most dimensions of a country's social cohesion. In contrast, inflation …
Persistent link: https://www.econbiz.de/10013469757
Monetary Zone (WAMZ) countries and explores the response of fiscal convergence to divergence of public debt levels, inflation … strong evidence that reducing divergence in public debt levels, inflation rates and current account balances would reduce …
Persistent link: https://www.econbiz.de/10013342773