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Real convergence in the euro area: A long-term perspective

Diaz del Hoyo, Juan Luis; Dorrucci, Ettore; Heinz, … - 2017

that of higher-income economies since the start of monetary union. The significant real convergence performance of some of … view" and reviewing the evidence since the 1960s, this paper shows that certain member countries began to face a "non-convergence … driving real convergence in the euro area over time, alongside other factors; and (ii) the crucial interaction of real …

Persistent link: https://www.econbiz.de/10011804706

Business Cycle during Structural Change : Arthur Lewis' Theory from a Neoclassical Perspective

Storesletten, Kjetil - 2019

We document that the nature of business cycles evolves over the process of development and structural change. In countries with large declining agricultural sectors, aggregate employment is uncorrelated with GDP.During booms, employment in agriculture declines while labor productivity increases...

Persistent link: https://www.econbiz.de/10012863612

Real Convergence in the Euro Area : A Long-Term Perspective

Diaz del Hoyo, Juan Luis - 2017

that of higher-income economies since the start of monetary union. The significant real convergence performance of some of … view” and reviewing the evidence since the 1960s, this paper shows that certain member countries began to face a “non-convergence … driving real convergence in the euro area over time, alongside other factors; and (ii) the crucial interaction of real …

Persistent link: https://www.econbiz.de/10012941989

China's Economic Growth and Rebalancing

Dorrucci, Ettore - 2013

In this paper we provide an overview of the growth model in China and its prospects, taking a medium-run to long-run perspective. Our main conclusions are as follows. First, the still prevailing producer-biased model of managed capitalism in China tends to engender, as an inherent byproduct,...

Persistent link: https://www.econbiz.de/10013089412

The economic impact of next generation EU: A euro area perspective

Bańkowski, Krzysztof; Bouabdallah, Othman; Semeano, … - 2022

convergence across countries. Finally, the effect of NGEU on euro area inflation over the medium term is deemed to be contained to …

Persistent link: https://www.econbiz.de/10013331898

Enhancing private and public risk sharing: Lessons from the literature and reflections on the COVID-19 crisis

Cimadomo, Jacopo; Gordo, Esther; Palazzo, Alessandra Anna - 2022

This article surveys the literature on consumption risk sharing, focusing on the findings for the euro area and for the United States, but also presenting evidence for other countries. The literature examined found that risk sharing is higher in more mature federations, such as the United...

Persistent link: https://www.econbiz.de/10013480195

Enhancing Private and Public Risk Sharing

Cimadomo, Jacopo; Gordo Mora, Esther; Palazzo, … - 2022

Persistent link: https://www.econbiz.de/10014076825

Monetary-Fiscal Policy Interactions in the Euro Area

Debrun, Xavier; Masuch, Klaus; Vansteenkiste, Isabel; … - 2021

The last review of the ECB’s monetary policy strategy in 2003 followed a period of predominantly upside risks to price stability. Experience following the 2008 financial crisis has focused renewed attention on the question of how monetary and fiscal policy should best interact, in particular...

Persistent link: https://www.econbiz.de/10013210832

The Economic Impact of Next Generation EU : A Euro Area Perspective

Bańkowski, Krzysztof; Bouabdallah, Othman; Semeano, … - 2022

convergence across countries. Finally, the effect of NGEU on euro area inflation over the medium term is deemed to be contained to …

Persistent link: https://www.econbiz.de/10013291193