Showing 1 - 10 of 11
The paper surveys the main trends of per capita income convergence in the European Union. It stresses that income … disparities have ceased to diminish across the European regions since 1980, although convergence between countries has continued … behind income convergence are analized by means of the decomposition of per capita income in labor productivity and …
Persistent link: https://www.econbiz.de/10005463756
Main trends of per capita income convergence in Portugal and the European Union are surveyed. An explanation is given … to the fact that in the last two decades countries have converged, while no visible convergence has taken place among the … distribution of the stock of existing firms in the European Union is fixed, it is assumed that the degree of convergence follows …
Persistent link: https://www.econbiz.de/10005463763
participated in the convergence phenomenon, Ireland, also neutral but democratic, was not able to converge to the developed world …
Persistent link: https://www.econbiz.de/10005076554
In a former study (Carvalho 1995) we modeled the housing market in Portugal in a classic cross section framework and did find that housing construction was dependant from income, population and sensitive to location. Nevertheless we couldn<92>t find the extent of this sensitivity in such a...</92>
Persistent link: https://www.econbiz.de/10005119161
The impact of human and public capital on growth is a major issue in economic theory and in policy evaluation. Using a cointegrated VAR, we estimate a Cobb-Douglas production function for Portugal with public and human capital. Return rates are then computed with and without dynamic feedbacks....
Persistent link: https://www.econbiz.de/10005592992
participated in the convergence phenomenon, Ireland, also neutral but democratic, was not able to converge to the developed world …
Persistent link: https://www.econbiz.de/10005556858
We review the main budgetary measures not accepted by the Portuguese Constitutional Court in the Budget Laws of 2012, 2013 and 2014. Considering the feedback effect of the fiscal impulse, the impact on the budget balance is -0.42% and of -0.34% of GDP respectively for 2013 and for 2014; in both...
Persistent link: https://www.econbiz.de/10011200172
After entering the EU in 1986, Portugal benefited from low interest rates and some growth momentum. However, the difficulty in taming fiscal imbalances, the pro-cyclicality of fiscal policy, the use of extraordinary fiscal measures, coupled with the 2008-2009 economic and financial crisis led to...
Persistent link: https://www.econbiz.de/10010603548
This paper provides a succinct overview of long-run developments regarding public finances in Portugal with an emphasis on the spending side. Issues addressed are the excessive deficit experiences of Portugal, the past experience with fiscal consolidations, and labour cost competitiveness. It is...
Persistent link: https://www.econbiz.de/10005761286
Drawing on quarterly data for Portugal, we use a Three-Stage Least Square method and a system of equations to recursively estimate two components of fiscal policy – responsiveness and persistence – and to infer about the sources of fiscal deterioration (improvement). The results suggest...
Persistent link: https://www.econbiz.de/10005184986