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Can Severe Fiscal Contractions be Expansionary? Tales of Two Small European Countries

Giavazzi, Francesco - 1990

According to conventional wisdom, a fiscal consolidation is likely to contract real aggregate demand. It has often been argued, however, that this conclusion is misleading as it neglects the role of expectations of future policy: if the fiscal consolidation is read by the private sector as a...

Persistent link: https://www.econbiz.de/10012475661

The Euromarkets after 1992

Levich, Richard M. - 1989

Over the last three decades, differential national regulation in conjunction with increasing capital mobility has given rise to tremendous growth in the Eurocurrency markets. In this paper, we analyze whether the announced plans of the European Commuission to remove barriers to capital flows (in...

Persistent link: https://www.econbiz.de/10012476045

Seigniorage in Europe

Grilli, Vittorio U. - 1988

In this paper, based on the experience of ten European countries, we study the relevance of seigniorage revenues in the recent past, and we speculate about their importance in the near future. We find that the members of the European community differ widely in the way they manage monetary...

Persistent link: https://www.econbiz.de/10012476282

Monetary Policy and Performance in the U.S., Japan and Europe, 1973-86

Fischer, Stanley - 1987

Monetary policies in the U.S., Japan, Germany and the United Kingdom over the period 1973-1986 are compared and evaluated, with the aim of drawing lessons for monetary policy from the recent historical record. All four countries shifted during this period to money targeting, though with...

Persistent link: https://www.econbiz.de/10012476592

The International Linkage of Real Interest Rates : The European - U.S. Connection

Cumby, Robert E. - 1984

Casual observation indicates that in recent years real interest rates in the United States appear to have risen sharply and have remained high relative to historical standards. Many observers have claimed that these high real rates have been transmitted abroad and have lead to high real rates in...

Persistent link: https://www.econbiz.de/10012477666

Patents as Options : Some Estimates of the Value of Holding European Patent Stocks

Pakes, Ariel - 1984

In many countries holders of patents must pay an annual renewal fee in order to keep their patents in force. This paper uses data on the proportion of patents renewed, and the renewal fees faced by, post World War II cohorts of patents in France, the United Kingdom, and Germany, in conjunction...

Persistent link: https://www.econbiz.de/10012477754

The Heights of Europeans Since 1750 : A New Source For European Economic History

Floud, Roderick - 1984

Economic and social historians have traditionally been concerned to measure changes in the income and welfare of populations in the past.Until recently, however, they have not recognized that anthropometric data, such as evidence on the average height achieved by a population at a particular...

Persistent link: https://www.econbiz.de/10012477779

Trade and Structural Interdependence Between the U.S. and the NICs

Branson, William H. - 1984

During the decade since 1973, the U.S. economy has become increasingly interdependent with the newly industrializing countries (NICs) among the developing countries. These countries have had high investment ratios to GNP, financed mainly by domestic saving, but also partly by foreign borrowing....

Persistent link: https://www.econbiz.de/10012477813

Immigration and Preferences for Redistribution in Europe

Alesina, Alberto - 2019

We examine the relationship between immigration and attitudes toward redistribution using a newly assembled data set of immigrant stocks for 140 regions of 16 Western European countries. Exploiting within-country variations in the share of immigrants at the regional level, we find that native...

Persistent link: https://www.econbiz.de/10012479516

The Industry Anatomy of the Transatlantic Productivity Growth Slowdown

Gordon, Robert J. - 2019

By merging KLEMS data sets and aggregating over the ten largest Western European nations (EU-10), we are able to … compare and contrast productivity growth up through 2015 starting from 1950 in the U.S. and from 1972 in the EU-10. Data are …-industries. The analysis focuses on outcomes over four time intervals: 1950-72, 1972-95, 1995-2005, and 2005-15. We interpret the EU …

Persistent link: https://www.econbiz.de/10012479654