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The paper investigates the macroeconomic and financial effects of oil prices shocks in the euro area since its creation in 1999, with a special focus on the recent slump. The analysis is carried out episode by episode, within a time-varying parameter framework, consistent with the view that "not...
Persistent link: https://www.econbiz.de/10011451685
We investigate whether the response of the macro-economy to oil price shocks undergoes episodic changes. Employing a regime-switching vector autoregressive model we identify two regimes that are characterized by qualitatively different patterns in economic activity and inflation following oil...
Persistent link: https://www.econbiz.de/10012931102
We investigate whether the response of the macro-economy to oil price shocks undergoes episodic changes. Employing a regime-switching vector autoregressive model we identify two regimes that are characterized by qualitatively different patterns in economic activity and inflation following oil...
Persistent link: https://www.econbiz.de/10011771984
We investigate whether the response of the macro-economy to oil price shocks undergoes episodic changes. Employing a regime-switching vector autoregressive model we identify two regimes that are characterized by qualitatively different patterns in economic activity and inflation following oil...
Persistent link: https://www.econbiz.de/10011709632
This paper develops a long run growth model for a major oil exporting economy and derives conditions under which oil revenues are likely to have a lasting impact. This approach contrasts with the standard literature on the "Dutch disease" and the "resource curse", which primarily focus on short...
Persistent link: https://www.econbiz.de/10003897747
This paper develops a long run growth model for a major oil exporting economy and derives conditions under which oil revenues are likely to have a lasting impact. This approach contrasts with the standard literature on the "Dutch disease" and the "resource curse", which primarily focus on short...
Persistent link: https://www.econbiz.de/10003909263
Persistent link: https://www.econbiz.de/10011575058
Persistent link: https://www.econbiz.de/10011684560
This paper examines the impact of EU enlargement on agro-food export performance across 12 new EU member states and 5 … newly independent states in the EU markets covering the period 1999-2007. The performance is examined by duration of export … gains from the eastward EU enlargement and governance on export increases and longer duration for exporting higher value …
Persistent link: https://www.econbiz.de/10009490202
common currency increases the export activity of individual firms. In particular, we refer to the new strand in the trade … theory, based on the Melitz (2003) model, in which propensity to export depends on productivity and costs of exporting. There … studies demonstrate that export performance positively depends on firms' characteristics, but they do not take into account …
Persistent link: https://www.econbiz.de/10013057164