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Understanding low wage growth in the euro area and European countries

Nickel, Christiane (ed.); Bobeica, Elena (ed.); … - 2019

Despite notable improvements in the labour market since 2013, wage growth in the euro area was subdued and substantially overpredicted in 2013-17. This paper summarises the findings of an ESCB expert group on the reasons for low wage growth and provides comparable analyses on wage developments...

Persistent link: https://www.econbiz.de/10012063794

Domestic cycles, financial cycles, and policies : what has gone wrong?

Dăianu, Daniel - 2017

of much lower economic growth in the industrialized world. Central banks are over-burdened. This makes central bankers …

Persistent link: https://www.econbiz.de/10011760593

Business Cycles Fluctuations in Europe (1960-1998)

Gallegati, Marco - 2000

The goal of the paper consists in investigating if comovements in some selected time series are common to various countries and periods of time. To do so, we use 18 economic time series (GDP and demand components, employment and wages, money and prices, interest rates and stock prices) between...

Persistent link: https://www.econbiz.de/10014155345

Intranational Business Cycles in the United States

Hess, Gregory D.; Shin, Kwanho - 2008

We establish a comprehensive set of stylized facts for intranational business cycles across states and regions in the U.S. Notable findings are that the cross correlation of our consumption measure is much less than that for output, and the volatility of the real exchange rate between states is...

Persistent link: https://www.econbiz.de/10014069479

Corporate Debt, Capital Flows, and International Business Cycles

Trani, Tommaso - 2019

The G7 countries traditionally display home bias in assets (equities and bonds), but over the last 25 years this bias has progressively decreased, especially for equity portfolios. At the same time, the indebtedness of non-financial corporations has tended to increase and comove across...

Persistent link: https://www.econbiz.de/10012898191

Growth Expectations, Capital Flows and International Risk Sharing

Castren, Olli; Stiegert, Roger; Miller, Marcus H. - 2021

Over the past decades, cross-border financial flows have increased in importance and have in many occasions exceeded the underlying current account positions. This phenomenon has been accompanied by an increase in the volume of international equity transactions that accentuate the role of...

Persistent link: https://www.econbiz.de/10013319734

Why should the world care? : analysis, mechanisms and spillovers of the destination based border adjusted tax

Baumann, Ursel; Dieppe, Alistair; Dizioli, Allan Gloe - 2017

spillovers could be strongly negative and world trade could decline substantially. …

Persistent link: https://www.econbiz.de/10011699419

Chapter 9. Assessing International Efficiency

Heathcote, Jonathan; Perri, Fabrizio - In: Handbook of international economics : Volume 4, (pp. 523-584). 2014

This chapter is structured in three parts. The first part outlines the methodological steps, involving both theoretical and empirical work, for assessing whether an observed allocation of resources across countries is efficient. The second part applies the methodology to the long-run allocation...

Persistent link: https://www.econbiz.de/10014025377

Exchange Rate Regimes and the International Transmission of Business Cycles : Capital Account Openness Matters

Kim, Kyunghun - 2018

We investigate the role of exchange rate regimes in the international transmission of business cycles during the global financial crisis. We find that exchange rate regimes alone did not account for differences in the international transmission of business cycles during the crisis. However,...

Persistent link: https://www.econbiz.de/10012918089

International credit markets and global business cycles

Pintus, Patrick A.; Wen, Yi; Xin, Xiaochuan - 2018 - This version: May 14, 2018

subject to self-fulfilling variations in the world real interest rate. Those expectation-driven changes in the borrowing cost … asset prices, GDP, consumption, investment and employment). When firms around the world benefit from unexpectedly low debt … internationally. Such a stylized model thus offers one way to rationalize both the existence of world business-cycle factor documented …

Persistent link: https://www.econbiz.de/10011911509