Similar Search Results

A Neoclassical Growth Model for the Insiders – Outsiders Society

Kollintzas, Tryphon; Papageorgiou, Dimitris; … - C.E.P.R. Discussion Papers - 2013

The wage premium in the public sector, as measured by the ratio of the average wage rate in the public sector relative to the average wage rate in the private sector, varies considerably across developed economies. And, varies in some developed economies over large periods of time. Further, this...

Persistent link: https://www.econbiz.de/10011084192

A Model of Market and Political Power Interactions for Southern Europe

Kollintzas, Tryphon; Papageorgiou, Dimitris; … - C.E.P.R. Discussion Papers - 2015

In recent years the growth pattern of most Southern European countries has been disturbed, as those countries are suffering from economic crises that go beyond the usual business cycle. In this paper, we develop a dynamic general equilibrium model of market and political power interactions that...

Persistent link: https://www.econbiz.de/10011145445

Is the Euro Sustainable?

Wickens, Michael R. - C.E.P.R. Discussion Papers - 2007

It is widely recognised that the "one-size-fits-all" monetary policy of the euro-zone is a potential problem. How much … of a problem has not been much investigated. It is argued in this paper that it may result in the euro not being … competitiveness. A formal theory of inflation in the euro-zone based on an open-economy version of the New Keynesian model is used to …

Persistent link: https://www.econbiz.de/10005789110

The Macroeconomic Costs and Benefits of the EMU and other Monetary Unions: An Overview of Recent Research

Beetsma, Roel; Giuliodori, Massimo - C.E.P.R. Discussion Papers - 2009

This article provides an overview of recent research into the macroeconomic costs and benefits of monetary unification. We are primarily interested in Europe’s monetary union. Given that unification entails the loss of a policy instrument its potential benefits have to be found elsewhere....

Persistent link: https://www.econbiz.de/10008477181

Post-War Growth of the Danish Economy

Pedersen, Peder J - C.E.P.R. Discussion Papers - 1994

Economic growth in Denmark in the post-war years has been close to the OECD average. The `golden age' of very high growth was, however, of shorter duration in Denmark than in most other OECD countries. The main emphasis in this paper is on the description of productivity performance in the...

Persistent link: https://www.econbiz.de/10005791818

Euro Area Government Bonds—Integration and Fragmentation During the Sovereign Debt Crisis

Ehrmann, Michael; Fratzscher, Marcel - C.E.P.R. Discussion Papers - 2015

The paper analyzes the integration of euro area sovereign bond markets during the European sovereign debt crisis. It … identification. The paper finds that euro area government bond markets were well integrated prior to the crisis, but saw a …

Persistent link: https://www.econbiz.de/10011276387

The Impact of TFP Growth on Steady-State Unemployment

Pissarides, Christopher; Vallanti, Giovanna - C.E.P.R. Discussion Papers - 2005

Theoretical predictions of the impact of TFP growth on unemployment are ambiguous, and depend on the extent to which new technology is embodied in new jobs. We evaluate a model with embodied and disembodied technology, capitalization, and creative destruction effects by estimating the impact of...

Persistent link: https://www.econbiz.de/10005504604

Social Conflict and Growth in Euroland

De Grauwe, Paul; Skudelny, Frauke - C.E.P.R. Discussion Papers - 1999

This paper contributes to the literature on the differences in the transmission processes within Euroland. We start from the proposition that there are 'deep' differences in the nature of social conflicts and in the way countries deal with these conflicts. We empirically test this effect for the...

Persistent link: https://www.econbiz.de/10005504757

Europe's Golden Age: An Econometric Investigation of Changing Trend Rates of Growth

Crafts, Nicholas; Mills, Terence C - C.E.P.R. Discussion Papers - 1995

This paper examines growth in output per person in 17 OECD countries from the late nineteenth century to 1989 considering the possibility of several breaks in trend. In all cases the unit root hypothesis is rejected in favour of a segmented trend stationary alternative. 1951-73 is shown to be an...

Persistent link: https://www.econbiz.de/10005497870

The Causes of Post-War Slumps and Miracles. An Evaluation of Olsonian Views on German Economic Performance in the 1920s and the 1950s

Paqué, Karl-Heinz - C.E.P.R. Discussion Papers - 1994

This paper examines whether the different macroeconomic performances of the German economy in two post-war decades provide evidence for the theory (first advanced by Mancur Olson) that sharp institutional breaks are conducive to economic growth because they destroy the existing network of...

Persistent link: https://www.econbiz.de/10005497872