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Regional Nonadjustment and Fiscal Policy : Lessons for EMU

Obstfeld, Maurice - 1999

be hard to resist the eventual extension of existing EU mechanisms of income redistribution--a transfer union. We propose … an alternative strategy based on a relaxed stability pact, further strictures against central EU borrowing, labor market …

Persistent link: https://www.econbiz.de/10012471641

Wage Dynamics : Reconciling Theory and Evidence

Blanchard, Olivier Jean - 1999

U.S. macroeconomic evidence shows a negative relation between the rate of change of wages and unemployment. In contrast, most theories of wage determination imply a negative relation between the level of wages and unemployment. In this paper, we ask whether one can reconcile the empirical...

Persistent link: https://www.econbiz.de/10012471883

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

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

The Impact of the General Data Protection Regulation on Internet Interconnection

Zhuo, Ran - 2019

strict restrictions on processing and sharing of personal data of EU residents. Both contemporary news reports and simple …

Persistent link: https://www.econbiz.de/10012480424

Early Determinants of Work Disability in an International Perspective

Börsch-Supan, Axel - 2018

This paper studies the interrelated roles of health and welfare state policies in the decision to take up disability insurance (DI) benefits due to work disability (WD), defined as the (partial) inability to engage in gainful employment due to physical or mental illness. We exploit the large...

Persistent link: https://www.econbiz.de/10012480794

Data Privacy and Temptation

Liu, Zhuang - 2020

This paper derives a preference for data privacy from consumers' temptation utility. This approach facilitates a welfare analysis of different data privacy regulations, such as the GDPR enacted by the European Union and the CCPA enacted by the state of California, when a fraction of the...

Persistent link: https://www.econbiz.de/10012481201

Transatlantic Technologies : The Role of ICT in the Evolution of U.S. and European Productivity Growth

Gordon, Robert J. - 2020

aggregate of ten Western European nations (the EU-10) from 1977 to 2015. We find that the standard growth accounting approach is …. Using industry-level data from EU KLEMS, we find that most of the 1995-2005 U.S. productivity growth revival was driven by … ICT-intensive industries producing market services and computer hardware. In contrast the EU-10 experienced a 1995 …

Persistent link: https://www.econbiz.de/10012481620

How EU Markets Became More Competitive Than US Markets : A Study of Institutional Drift

Gutiérrez, Germán - 2018

-ante weak institutions benefit more from the delegation of antitrust enforcement to the EU level. Our model also explains why …

Persistent link: https://www.econbiz.de/10012453020

Automatic Stabilizers and Economic Crisis : US vs. Europe

Dolls, Mathias - 2010

income shock in the EU, compared to 32 per cent in the US. In the case of an unemployment shock 47 percent of the shock are … absorbed in the EU, compared to 34 per cent in the US. This cushioning of disposable income leads to a demand stabilization of … up to 30 per cent in the EU and up to 20 per cent in the US. There is large heterogeneity within the EU. Automatic …

Persistent link: https://www.econbiz.de/10012462382