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Current Account Imbalances and Structural Adjustment in the Euro Area: How to Rebalance Competitiveness

Zemanek, Holger; Belke, Ansgar; Schnabl, Gunther - Institute for the Study of Labor (IZA) - 2009

Low international competitiveness of a set of euro area countries, which have become evident by large current account … analyse the role of private restructuring and public structural reforms for the urgently needed readjustment of intra-euro … intra-euro area competitiveness. This implies that private restructuring and public reforms are rather than public transfers …

Persistent link: https://www.econbiz.de/10008632737

China's High Saving Puzzle

Ma, Guonan; Yang, Dennis T. - Institute for the Study of Labor (IZA) - 2013

This paper analyzes the causes of rising savings rates for the corporate, government, and household sectors, which have jointly contributed to the upsurge in aggregate savings in China in the past two decades. Government policies to rebalance the Chinese economy are also explored.

Persistent link: https://www.econbiz.de/10010791521

Aggregate Savings and External Imbalances in China

Yang, Dennis T. - Institute for the Study of Labor (IZA) - 2012

Over the last decade, the internal and external macroeconomic imbalances in China have risen to unprecedented levels. In 2008, China's national savings rate soared to over 53 percent of its GDP, whereas its current account surplus exceeded 9 percent of GDP. The current paper presents a unified...

Persistent link: https://www.econbiz.de/10010791526

Labor Market Reforms and Current Account Imbalances: Beggar-Thy-Neighbor Policies in a Currency Union?

Baas, Timo; Belke, Ansgar - Institute for the Study of Labor (IZA) - 2014

Member countries of the European Monetary Union (EMU) initiated wide-ranging labor market reforms in the last decade. This process is ongoing as countries that are faced with serious labor market imbalances perceive reforms as the fastest way to restore competitiveness within a currency union....

Persistent link: https://www.econbiz.de/10010959728

The Role of the Exchange Rate Regime in the Process of Real and Nominal Convergence

D'Adamo, Gaetano; Rovelli, Riccardo - Institute for the Study of Labor (IZA) - 2013

-S type of regression for each regime. Our results show that, for countries which pegged to or adopted the euro, the effect of … conclude that, in a catching-up country, premature euro adoption may foster excess inflation, beyond that which is to be …

Persistent link: https://www.econbiz.de/10011128045

Purchasing Power Parity for Developing and Developed Countries: What Can We Learn from Non-Stationary Panel Data Models?

Drine, Imed; Rault, Christophe - Institute for the Study of Labor (IZA) - 2007

The aim of this paper is to apply recently developed panel cointegration techniques proposed by Pedroni (1999, 2004) and generalized by Banerjee and Carrion-i-Silvestre (2006) to examine the robustness of the PPP concept for a sample of 80 developed and developing countries. We find that strong...

Persistent link: https://www.econbiz.de/10005761840

International Financial Integration and Real Exchange Rate Long-Run Dynamics in Emerging Countries: Some Panel Evidence

Caporale, Guglielmo Maria; Hadj Amor, Thouraya; Rault, … - Institute for the Study of Labor (IZA) - 2009

The aim of this paper is to provide new empirical evidence on the impact of international financial integration on the long-run Real Exchange Rate (RER) in 39 developing countries belonging to three different geographical regions (Latin America, Asia and MENA). It covers the period 1979-2004,...

Persistent link: https://www.econbiz.de/10005762383

Exchange Rate Volatility Effects on the German Labour Market: A Survey of Recent Results and Extensions

Buscher, Herbert S.; Mueller, Claudia - Institute for the Study of Labor (IZA) - 1999

In this paper, a survey on theoretically expected and empirically proved impacts of exchange rate volatility is given. With regard to the West German unemployment, the effects of volatility are empirically analyzed using three different volatility measures and four country groups. In...

Persistent link: https://www.econbiz.de/10005566669

The Effects of European Economic and Monetary Union on Wage Behaviour

Lauer, Charlotte - Institute for the Study of Labor (IZA) - 1999

This paper evaluates the possible consequences of the forthcoming European and Monetary Union on wage behavior. It will be shown that EMU does not influence wage policy directly, but rather indirectly through its implications on other areas of economic policy, predominantly on monetary policy....

Persistent link: https://www.econbiz.de/10005762303

Labour Mobility - An Adjustment Mechanism in Euroland?

Puhani, Patrick A. - Institute for the Study of Labor (IZA) - 1999

European Union. Regression results are provided for Western Germany, France, and Italy. It is shown that labour mobility is … highest in Germany, followed by France, and Italy. However, even in Germany, the accommodation of a shock to unemployment by …

Persistent link: https://www.econbiz.de/10005233745