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Price convergence in the enlarged internal market

Dreger, Christian; Kholodilin, Konstantin Arkadievich; … - 2007

In this paper we investigate the effects of EU enlargement on price convergence. The internal market is expected to boost integration and increase efficiency and welfare through a convergence of prices in product markets. Two principal drivers are crucial to explain price developments. On the...

Persistent link: https://www.econbiz.de/10010274372

Assessing the impact of the ECB's monetary policy on the stock markets: a sectoral view

Kholodilin, Konstantin Arkadievich; Montagnoli, Alberto; … - 2008

This paper analyzes the response of the European stock markets to the monetary policy shocks by the European Central Bank using the heteroskedasticity based approach of Rigobon (2003). We find that monetary policy tightening has a heterogeneous impact on the Euro Area sectors on the day the...

Persistent link: https://www.econbiz.de/10010274373

Common and spatial drivers in regional business cycles

Artis, Michael J.; Dreger, Christian; Kholodilin, … - 2009

We examine real business cycle convergence for 41 euro area regions and 48 US states. Results obtained by a panel model with spatial correlation indicate that the relevance of common business cycle factors is rather stable over the past two decades in the euro area and the US. Ongoing business...

Persistent link: https://www.econbiz.de/10010274374

Deep financial integration and volatility

Kalemli-Özcan, Sebnem; Sørensen, Bent E.; Volosovych, … - 2010

We investigate the relationship between financial integration and output volatility at micro and macro levels. Using a very large firm-level dataset (AMADEUS) from 16 European countries, we construct a measure of deep financial integration at the regional level based on observations of foreign...

Persistent link: https://www.econbiz.de/10010274425

A simple decomposition of the variance of output growth across countries

Reicher, Christopher Phillip - 2011

employment to cyclical output growth across a panel of countries. Measured productivity contributes more to the cycle in Europe … and Japan than in the United States. Employment contributes the largest proportion of the cycle in Europe and the United … States (but not Japan), which is inconsistent with the idea that higher levels of employment protection in Europe dampen …

Persistent link: https://www.econbiz.de/10010274432

Structural cohesion in Europe: Stylized facts

Bickenbach, Frank; Bode, Eckhardt; Krieger-Boden, Christiane - 2010

This paper establishes eight stylized facts on the evolution of the localization of economic activity across industries and regions in the EU-15 since 1980. Localization, which nests concentration and specialization, is measured by a Theil index. The stylized facts reveal a broad aggregate trend...

Persistent link: https://www.econbiz.de/10010274439

Setting efficient EU climate policy targets: mission possible?

Kulessa, Margareta Elisabeth - In: Intereconomics 42 (2007) 2, pp. 64-71

Persistent link: https://www.econbiz.de/10010274487

The Eastward Enlargement of the Eurozone : The Shaping of Capital Markets Regional Inputs on Data and Statistic

Meyer, Thomas; Kiander, Jaakko; Vieira, Carlos; Vieira, … - 2002

its enlargement to prospective members in central and eastern Europe. The project is financially supported by European …

Persistent link: https://www.econbiz.de/10010274501

Dynamics of Inclusion of Accession Countries into the European Monetary Union : Some Institutional Aspects

Lavrač, Vladimir - 2003

The main topic of the paper is optimal dynamics, i.e., timing of entry of the accession countries in the ERM 2 and EMU. Some of the crucial questions addressed in the paper are as follows: a) Should accession countries aim at an early or a delayed entry into the EMU? b) What are economic and...

Persistent link: https://www.econbiz.de/10010274503

Tax-benefit systems in Europe and the US: Between equity and efficiency

Bargain, Olivier; Dolls, Mathias; Neumann, Dirk; … - 2011

Whether observed differences in redistributive policies across countries are the result of differences in social preferences or efficiency constraints is an important question that paves the debate about the optimality of welfare regimes. To shed new light on this question, we estimate labor...

Persistent link: https://www.econbiz.de/10010274595