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We explore the interaction between labour market reforms and financial frictions. Our study combines a new cross-country reform database on labour market reforms with matched firm-bank data for nine euro area countries over the period 1999 to 2013. While we find that labour market reforms are...
Persistent link: https://www.econbiz.de/10012021559
We explore the interaction between labour market reforms and financial frictions. Our study combines a new cross-country reform database on labour market reforms with matched firmbank data for nine euro area countries over the period 1999 to 2013. While we find that labour market reforms are...
Persistent link: https://www.econbiz.de/10012132535
We show that the speed and type of corporate deleveraging depends on the interaction between corporate and financial sector health. Based on granular bank-firm data pertaining to small and medium-sized enterprises (SME) from five stressed and two non-stressed euro area economies, we show that...
Persistent link: https://www.econbiz.de/10011732738
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This paper investigates the link between sovereign ratings and macroeconomic fundamentals for a group of euro area countries which recorded rating downgrades amid the euro area sovereign debt crisis. We apply an elaborated econometric estimation technique, based on a Bayesian ordered probit...
Persistent link: https://www.econbiz.de/10011637529
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[eng] Exchange Rate Uncertainty and Unemployment in the Accession Countries : A Case for Euroization by Ansgar Belke and Ralph Setzer . The traditional “ optimum currency area ” approach posits that little is lost in the transition to a very hard peg to a currency union if exchange rate...
Persistent link: https://www.econbiz.de/10010978021
Traditional specifications of export equations incorporate foreign demand as a demand pull factor and the real exchange rate as a relative price variable. However, such standard export equations have failed to explain the export performance of euro area countries during the crisis period. In...
Persistent link: https://www.econbiz.de/10010860282
Traditional specifications of export equations incorporate foreign demand as a demand pull factor and the real exchange rate as a relative price variable. However, such standard export equations have failed to explain the export performance of euro area countries during the crisis period. In...
Persistent link: https://www.econbiz.de/10010902593