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The Economics of Secession – Analysing the economic impact of the collapse of the former Yugoslavia

Rodriguez-Pose, Andres; Stermsek, Marko - C.E.P.R. Discussion Papers - 2014

independence process, socioeconomic and structural controls, and the level of development – in order to assess whether a) breaking … away from the former Yugoslavia delivered an ‘independence dividend’ to the newly independent countries and whether b …) independence had a more favourable impact in richer, rather than poorer territories. The results of the analysis underline that …

Persistent link: https://www.econbiz.de/10011083216

Central Banks: Powerful, Political and Unaccountable?

Buiter, Willem H. - C.E.P.R. Discussion Papers - 2014

Central banks’ economic and political importance has grown in advanced economies since the start of the Great Financial Crisis in 2007. An unwillingness or inability of governments to use countercyclical fiscal policy has made monetary policy the only stabilization tool in town. However, much...

Persistent link: https://www.econbiz.de/10011084413

Regions are not countries: a new approach to the border effect

Comerford, David; Mora, Rodríguez; Vicente, José - C.E.P.R. Discussion Papers - 2014

between sub-national states or regions. Using plausible counterfactual analysis, we assess the costs of independence for … independence takes on the calibrated frictions of a counterfactual independent country. If the main change that comes with the … independence of regions of larger countries is that their border with their former union partner comes to resemble a normal country …

Persistent link: https://www.econbiz.de/10011084503

How Transparent are Central Banks?

Eijffinger, Sylvester C W; Geraats, Petra M - C.E.P.R. Discussion Papers - 2002

Central bank transparency has become the topic of a lively public and academic debate on monetary policy. Unfortunately, it has been complicated by the fact that transparency is a qualitative concept that is hard to measure. This Paper proposes a comprehensive index for central bank transparency...

Persistent link: https://www.econbiz.de/10005123819

Local and Consistent Centrality Measures in Networks

Dequiedt, Vianney; Zenou, Yves - C.E.P.R. Discussion Papers - 2014

eigenvector centrality. The core of our argument hinges on the power of the consistency axiom, which relates the properties of the …

Persistent link: https://www.econbiz.de/10011083213

The Economic Effects of Energy Price Shocks

Kilian, Lutz - C.E.P.R. Discussion Papers - 2007

Large fluctuations in energy prices have been a distinguishing characteristic of the U.S. economy since the 1970s. Turmoil in the Middle East, rising energy prices in the U.S. and evidence of global warming recently have reignited interest in the link between energy prices and economic...

Persistent link: https://www.econbiz.de/10005504581

The Effect of Disability on Labour Market Outcomes in Germany: Evidence from Matching

Lechner, Michael; Vazquez-Alvarez, Rosalia - C.E.P.R. Discussion Papers - 2004

If labour market policies aimed at people with disabilities are effective, we should observe no significant difference in labour market outcomes between disabled and non-disabled individuals. This Paper examines the impact of disability status on labour market outcomes using matching methods...

Persistent link: https://www.econbiz.de/10005498136

Not All Oil Price Shocks Are Alike: Disentangling Demand and Supply Shocks in the Crude Oil Market

Kilian, Lutz - C.E.P.R. Discussion Papers - 2006

Using a newly developed measure of global real economic activity, a structural decomposition of the real price of crude oil in four components is proposed: oil supply shocks driven by political events in OPEC countries; other oil supply shocks; aggregate shocks to the demand for industrial...

Persistent link: https://www.econbiz.de/10005662193

Inequality and Institutions

Chong, Alberto; Gradstein, Mark - C.E.P.R. Discussion Papers - 2004

institutional measures. We establish the double causality between institutional strength and a more equal distribution of income and …

Persistent link: https://www.econbiz.de/10005124033

Testing a DSGE Model of the EU Using Indirect Inference

Meenagh, David; Minford, Patrick; Wickens, Michael R. - C.E.P.R. Discussion Papers - 2008

We use the method of indirect inference, using the bootstrap, to test the Smets and Wouters model of the EU against a VAR auxiliary equation describing their data; the test is based on the Wald statistic. We find that their model generates excessive variance compared with the data. But their...

Persistent link: https://www.econbiz.de/10005791817