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Fiscal policy and growth in the context of European integration

Masson, Paul - 2000

The paper considers the issue of whether a supranational fiscal policy in Europe is needed, and, if so what responsibilities it should undertake. The literature on endogenous growth and the principle of subsidiarity suggest that such a policy should be limited to externalities or economies of...

Persistent link: https://www.econbiz.de/10011506529

Economic growth and the labor markets: Europe's challenge

Wyplosz, Charles - 2000

This paper reviews the accumulated theory and evidence on the sources of European underperformance in terms of economic growth and unemployment. It takes the view that the main problem lies with labor market institutions, ranging from negotiation structures to hiring and firing costs,...

Persistent link: https://www.econbiz.de/10011506530

The Belgian industrial confidence indicator: leading indicator of economic activity in the euro area?

Vanhaelen, Jean-Jacques; Dresse, Luc; De Mulder, Jan - 2000

Belgian industrial confidence indicator might precede the euro area business cycles. The initial purpose of this paper is to … industrial confidence indicators for Belgium and for the euro area, and the statistical significance of the differences in timing … fact significantly lead turning points in the euro area from 1993 onwards. The leading nature of the Belgian industrial …

Persistent link: https://www.econbiz.de/10011506534

Basel II and Operational Risk: Implications for risk measurement and management in the financial sector

Chapelle, Ariane; Crama, Yves; Hubner, Georges; Peters, … - 2004

This paper proposes a methodology to analyze the implications of the Advanced Measurement Approach (AMA) for the assessment of operational risk put forward by the Basel II Accord. The methodology relies on an integrated procedure for the construction of the distribution of aggregate losses,...

Persistent link: https://www.econbiz.de/10011506573

Determinants of Euro Term Structure of Credit Spreads

Van Landschoot, Astrid - 2004

In this paper, we analyze wether the sensitivity of credit spread changes to financial and macroeconomic variables depends on bond characteristics such as rating and maturity. First, we estimate the term structure of credit spreads for different rating categories by applying an extension of the...

Persistent link: https://www.econbiz.de/10011506579

Price setting in the euro area: Some stylized facts from Individual Consumer Price Data

Dhyne, Emmanuel; Álvarez, Luis J.; Le Bihan, Hervé; … - 2005

This paper documents patterns of price setting at the retail level in the euro area, summarized in six stylized facts …. First, the average euro area monthly frequency of price adjustment is 15 p.c., compared to about 25 p.c. in the US. Second … are not highly synchronized across retailers. Moreover, the frequency of price changes in the euro area is related to …

Persistent link: https://www.econbiz.de/10011506596

The single European electricity market: A long road to convergence

Coppens, François; Vivet, David - 2006

In the context of a first Working Paper the authors argued that electricity has a number of characteristics that set it apart from other commodities. It was demonstrated that some of these characteristics might complicate the deregulation process. This paper analyses the ongoing deregulation...

Persistent link: https://www.econbiz.de/10011506606

The dynamics of trade and competition

Chen, Natalie; Imbs, Jean; Scott, Andrew - 2006

We present, extend and estimate a model of international trade with firm heterogeneity in the tradition of Melitz (2003) and Melitz and Ottaviano (2005). The model is constructed to yield testable implications for the dynamics of international prices, productivity levels and markups as functions...

Persistent link: https://www.econbiz.de/10011506613

How wages change: micro evidence from the International Wage Flexibility Project

Dickens, William T.; Goette, Lorenz; Groshen, Erica L.; … - 2006

How do the complex institutions involved in wage setting affect wage changes? The International Wage Flexibility Project provides new microeconomic evidence on how wages change for continuing workers. We analyze individuals’ earnings in 31 different data sets from sixteen countries, from which...

Persistent link: https://www.econbiz.de/10011506618

The kinked demand curve and price rigidity: evidence from scanner data

Dossche, Maarten; Heylen, Freddy; Van den Poel, Dirk - 2006

This paper uses scanner data from a large euro area retailer. We extend Deaton and Muellbauer's Almost Ideal Demand …

Persistent link: https://www.econbiz.de/10011506621