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Wages, labor or prices : how do firms react to shocks?

Dhyne, Emmanuel; Druant, Martine - 2010

Survey results in 15 European countries for almost 15,000 firms reveal that Belgian firms react more than the average European firm to adverse shocks by reducing permanent and temporary employment. On the basis of a firm-level analysis, this paper confirms that the different reaction to shocks...

Persistent link: https://www.econbiz.de/10011596526

What determines euro area bank CDS spreads?

Annaert, Jan; De Ceuster, Marc J.; Van Roy, Patrick; … - 2010

This paper decomposes the explained part of the CDS spread changes of 31 listed euro area banks according to various risk drivers. The choice of the credit risk drivers is inspired by the Merton (1974) model. Individual CDS liquidity and other market and business variables are identified to...

Persistent link: https://www.econbiz.de/10011596544

Inter-industry wage differentials in EU countries : what do cross-country time-varying data add to the picture?

Du Caju, Philip; Kátay, Gábor; Lamo, Ana; Nicolitsas, … - 2010

EU countries (Belgium, Germany, Greece, Hungary, Ireland, Italy, the Netherlands and Spain) at two different points in …

Persistent link: https://www.econbiz.de/10011596556

Implementing greenhouse gas trading in Europe : lessons from economic theory and international experiences

Boemare, Catherine; Quirion, Philippe - 2002

The European Commission (2001a) has recently presented a directive proposal to the Parliament and the Council in order to implement a tradable permits scheme. However, as stressed by the positive political economy, due to the influence of various interest groups, very few environmental policies...

Persistent link: https://www.econbiz.de/10011596941

Farm animal biodiversity conservation activities in Europe under the framework of Agenda 2000

Signorello, Giovanni; Pappalardo, Gioacchino - 2002

the European Union (EU), as a result of the application of EC Regulations 1257/99 and 1750/99. We surveyed 69 Rural … Development Plans (RDPs) set up in EU Member States. Our analysis focuses on six livestock mammalian species: asses, cattle, goats … suggest the need for a revision of the current EU supporting measures related to the conservation of livestock biodiversity …

Persistent link: https://www.econbiz.de/10011596951

The development of monetary policy in the 20th century - some reflections

Issing, Otmar - 2010

In this paper I outline - from a practitioner's as well as from a researcher's perspective - several of the key developments that took place during the last century in monetary policy. In particular, I describe how the monetary system evolved from gold standard, prevailing throughout most of the...

Persistent link: https://www.econbiz.de/10011596989

The margins of labour cost adjustment : survey evidence from European firms

Babeckij, Jan; Du Caju, Philip; Kosma, Theodora; … - 2009

Firms have multiple options at the time of adjusting their wage bills. However, previous literature has mainly focused on base wages. We broaden the analysis beyond downward rigidity in base wages by investigating the use of other margins of labour cost adjustment at the firm level. Using data...

Persistent link: https://www.econbiz.de/10011597045

Downward nominal and real wage rigidity : survey evidence from European firms

Babeckij, Jan; Du Caju, Philip; Kosma, Theodora; … - 2009

It has been well established that the wages of individual workers react little, especially downwards, to shocks that hit their employer. This paper presents new evidence from a unique survey of firms across Europe on the prevalence of downward wage rigidity in both real and nominal terms. We...

Persistent link: https://www.econbiz.de/10011597048

Fiscal sustainability and policy implications for the euro area

Balassone, Fabrizio; Cunha, Jorge Correia da; Langenus, … - 2009

critically assess the widely used projections of the Working Group on Ageing Populations (AWG) of the EU's Economic Policy …

Persistent link: https://www.econbiz.de/10011597068

How are firms' wages and prices linked : survey evidence in Europe

Druant, Martine; Fabiani, Silvia; Kézdi, Gábor; Lamo, Ana - 2009

This paper presents new evidence on the patterns of price and wage adjustment in European firms and on the extent of nominal rigidities. It uses a unique dataset collected through a firm-level survey conducted in a broad range of countries and covering various sectors. Several conclusions are...

Persistent link: https://www.econbiz.de/10011597187