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Making public finances more growth and equity-friendly in the euro area

Pina, Álvaro Manuel - 2016

Across the euro area, the ability of public finances to support equitable growth has tended to deteriorate. Concerns about high and rising public debt, together with market pressure in some cases, led to sharp fiscal consolidation in 2011-13, against the backdrop of a weak economic situation at...

Persistent link: https://www.econbiz.de/10011577852

Stellungnahme des Wirtschafts-und Sozialausschusses zum Thema "Die Auswirkungen der Errichtung der WWU auf den wirtschaftlichen und sozialen Zusammenhalt"

Europäischer Wirtschafts- und Sozialausschuss - 1999

Persistent link: https://www.econbiz.de/10001445663

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

Díaz del Hoyo, Juan L.; 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/10011755500

The transition of China to sustainable growth : implications for the global economy and the euro area

Dieppe, Alistair (ed.); Gilhooly, Robert (ed.); … - 2018

China's rise has been the economic success story of the past four decades but economic growth has been slowing and domestic imbalances have widened. This paper analyses the recent evolution of China's imbalances, the risks they pose to the economic outlook and the potential impact of a...

Persistent link: https://www.econbiz.de/10011792634

New and timely statistical indicators on government debt securities

Cornejo Pérez, Asier; Diz Dias, Jorge; Hartwig Lojsch, … - 2015

New monthly statistical indicators on government debt securities for euro area countries have now been developed on the basis of the information contained in the Centralised Securities Database (CSDB), an internal database available to the European System of Central Banks (ESCB). The CSDB is...

Persistent link: https://www.econbiz.de/10011664040

Stabilisation policies to strengthen Euro area resilience

Strasky, Jan; Claveres, Guillaume - 2018

The euro area sovereign debt crisis highlighted important weaknesses in the euro area design. Fiscal policy did not build sufficient buffers before the crisis, which forced some countries to tighten fiscal policy too rapidly during the downturn to restore market confidence in sovereign...

Persistent link: https://www.econbiz.de/10011914287

Stabilising the euro area through unemployment benefits re-insurance scheme

Claveres, Guillaume; Strasky, Jan - 2018

The paper examines the possible design and macroeconomic stabilisation properties of a euro area unemployment benefits re-insurance scheme using annual historical data from 2000 to 2016. The scheme we propose is similar in some aspects to the recent proposals, including the IMF’s paper on the...

Persistent link: https://www.econbiz.de/10011914298

Europe's new fiscal rules

Barnes, Sebastian; Davidsson, David; Rawdanowicz, Łukasz - 2012

Europe is putting in place a new system of fiscal rules following the euro area sovereign debt crisis and decades of rising government to debt-to-GDP ratios. These include the so-called “six pack” to upgrade the Stability and Growth Pact to a new Treaty incorporating the “fiscal...

Persistent link: https://www.econbiz.de/10009690998

The macroeconomic impact of the Next Generation EU instrument on the euro area

Bańkowski, Krzysztof; Ferdinandusse, Marien; … - 2021

In response to the economic fallout from the coronavirus (COVID-19) pandemic, the European Council agreed on the Next Generation EU (NGEU) instrument. NGEU allows the European Commission to issue debt to finance grants and loans to EU Member States, with the disbursement of funds intended to be...

Persistent link: https://www.econbiz.de/10012417434

Has the Grexit news affected euro area financial markets?

Gregori, Wildmer Daniel; Sacchi, Agnese - 2017

This paper investigates whether rumours about Greek exit from the euro area have spilled over into other European countries' sovereign bond yields. Our empirical analysis is based on more than 64,000 daily news items on Grexit between December 2014 and October 2015. We build a Grexit intensity...

Persistent link: https://www.econbiz.de/10012054687