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Public education in an integrated Europe : studying to migrate and teaching to stay?

Poutvaara, Panu - 2004

An increasing international applicability of a given type of education encourages students to invest more effort when studying. Governments, on the other hand, face an incentive to divert the provision of public education away from internationally applicable education toward country-specific...

Persistent link: https://www.econbiz.de/10010261114

Improving the SGP : taxes and delegation rather than fines

Lindbeck, Assar; Niepelt, Dirk - 2005

We analyze motivations for, and possible alternatives to, the Stability and Growth Pact (SGP). With regard to the former, we identify domestic policy failures and various cross-country spillover effects; with regard to the latter, we contrast an ?economic-theory" perspective on optimal...

Persistent link: https://www.econbiz.de/10010261131

The private and fiscal returns to schooling and the effect of public policies on private incentives to invest in education : a general framework and some results for the EU

De la Fuente, Angel; Jimeno, Juan F. - 2005

This paper develops a comprehensive framework for the quantitative analysis of the private and fiscal returns to schooling and of the effect of public policies on private incentives to invest in education. This framework is applied to 14 member states of the European Union. For each of these...

Persistent link: https://www.econbiz.de/10010261133

Why are more redistributive social security systems smaller? : A median voter approach

Koethenbuerger, Marko; Poutvaara, Panu; Profeta, Paola - 2005

We suggest a political economy explanation for the stylized fact that intragenerationally more redistributive social security systems are smaller. Our key insight is that linking benefits to past earnings (less redistributiveness) reduces the efficiency cost of social security (due to endogenous...

Persistent link: https://www.econbiz.de/10010261136

Policy mix and debt sustainability : evidence from fiscal policy rules

Claeys, Peter - 2005

This paper characterises rules-based fiscal policy setting. Basically, we translate a standard monetary policy rule into a simple fiscal policy rule. We then infer on fiscal policymakers' reaction coefficients by testing the rule with GMM. Interaction is also tested directly by the inclusion of...

Persistent link: https://www.econbiz.de/10010261142

Asymmetries in the trans-atlantic monetary policy relationship : does the ECB follow the Fed?

Belke, Ansgar; Gros, Daniel - 2005

The belief that the ECB follows the US Federal Reserve in setting its policy is so entrenched with market participants and commentators that the search for empirical support would seem to be a trivial task. However, this is not the case. We find that the ECB is indeed often influenced by the...

Persistent link: https://www.econbiz.de/10010261156

Capital quality improvement and the sources of growth in the euro area

Sakellaris, Plutarchos; Vijselaar, Focco W. - 2005

The euro area experienced a slowdown in output and Total Factor Productivity growth in the 1990s compared to the 1980s …. We ask the following questions. Is the apparent slowdown in euro area output due to a lack of proper accounting for … capital quality improvement? The answer is no. Did technological change really slow down in the euro area? The answer here is …

Persistent link: https://www.econbiz.de/10010261178

Public pensions in the national accounts and public finance targets

Oksanen, Heikki - 2004

Preparations are underway to revise national accounting to implement actuarial recording of pension liabilities for corporations and government as an employer. This paper extends this to unfunded public pensions with the help of ?implicit tax? in pension contributions. The clearest advantages of...

Persistent link: https://www.econbiz.de/10010261211

Look who's talking : ECB communication during the first years of EMU

Jansen, David-Jan; de Haan, Jakob - 2004

This paper studies ECB and Bundesbank communication on monetary policy during the first years of the European Economic and Monetary Union. We study whether statements by different (groups of) central bankers have been contradictory and whether differences have diminished over time. We find that...

Persistent link: https://www.econbiz.de/10010261249

Culture and institutions : economic development in the regions of Europe

Tabellini, Guido - 2005

Does culture have a causal effect on economic development? The data on European regions suggest that it does. Culture is measured by indicators of individual values and beliefs, such as trust and respect for others, and confidence in individual self-determination. To isolate the exogenous...

Persistent link: https://www.econbiz.de/10010261295