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Fiscal Policies and Business Cycles in an Enlarged Euro Area

Stæhr, Karsten - 2008

This paper compares the cyclical properties of fiscal policies across the 12 original eurozone countries and the future … counter-cyclical in Central and Eastern European countries than in members of the eurozone. The main differences arise from … the revenue side. Differences in the formation of fiscal policy between current and future eurozone countries decrease …

Persistent link: https://www.econbiz.de/10012773620

Catching-Up, Inflation Differentials and Credit Booms in a Heterogeneous Monetary Union : Some Implications for Emu and New EU Member States

MacDonald, Ronald - 2013

In this paper we propose an alternative explanation for the nature, sources and consequences of inflation rate differentials in a monetary union, such as EMU. To achieve this, we build on the new neoclassical synthesis (NNS) framework, recently advanced by Goodfriend (2002) and Goodfriend and...

Persistent link: https://www.econbiz.de/10012754168

Emu Enlargement, Policy Uncertainty and Economic Reforms

Hefeker, Carsten - 2021

The paper analyzes the relation between monetary uncertainty and government incentives to implement economic reforms that reduce structural distortions and make economies more flexible. It is shown that uncertainty about the central bank's reaction function leads to more reforms. I relate this...

Persistent link: https://www.econbiz.de/10013317517

Lisbon Agenda, Regional Innovation System and the New EU Cohesion Policy

Nam, Chang-woon; Schoenberg, Alina M.; Wamser, Georg - 2021

The EU’s cohesion policy should now be confluent with the goals of the Lisbon strategy by promoting growth and employment. In this context, the promotion of a concept called regional innovation system has recently become important in the EU for guaranteeing long-term regional economic growth....

Persistent link: https://www.econbiz.de/10013315973

Higher Education Reform and the Renewed Lisbon Strategy : Role of Member States and the European Commission

Ploeg, Frederick van der; Veugelers, Reinhilde - 2021

This paper discusses rising enrolment rates, access, governance, underperformance in research and teaching, lack of internationalisation, private returns to education and the funding problems of European universities. Our proposals for reform are based on more autonomy for universities, higher...

Persistent link: https://www.econbiz.de/10013317226

Hitting and Hoping? Meeting the Exchange Rate and Inflation Criteria During a Period of Nominal Convergence

Lewis, John - 2013

This paper analyses the problem faced by CEECs wishing to join the Euro who must hit both an inflation and exchange rate criterion during a period of nominal convergence. This process requires either an inflation differential, an appreciating nominal exchange rate, or a combination of the two,...

Persistent link: https://www.econbiz.de/10012754017

External Monetary Shocks and Monetary Integration : Evidence from the Bulgarian Currency Board

Minea, Alexandru; Rault, Christophe - 2021

Starting July the 1st 1997, Bulgaria adopted a Currency Board (CB) monetary system. This paper aims at investigating if the adoption of the CB monetary system, which involves the cost of loosing monetary autonomy, has provided a relatively better (with respect to other CEEC) monetary integration...

Persistent link: https://www.econbiz.de/10013316024

Real Convergence, Capital Flows, and Competitiveness in Central and Eastern Europe

Belke, Ansgar Hubertus; Schnabl, Gunther; Zemanek, Holger - 2021

The paper scrutinizes the role of wages and capital flows for competitiveness in the new EU member states in the context of real convergence. For this purpose it extends the seminal Balassa-Samuelson model by international capital markets. The augmented Balassa-Samuelson model is linked to the...

Persistent link: https://www.econbiz.de/10013316298

Are the Baltic Countries Ready to Adopt the Euro? A Generalised Purchasing Power Parity Approach

Caporale, Guglielmo Maria; Ciferri, Davide; Girardi, … - 2021

This paper focuses on macroeconomic interdependencies between the Euro area and three transition economies (Estonia, Lithuania and Latvia), with the aim of establishing whether the latter are ready to adopt the Euro. The theoretical framework is based on the Generalised Purchasing Power Parity...

Persistent link: https://www.econbiz.de/10013316490

Beyond Balassa and Samuelson : Real Convergence, Capital Flows, and Competitiveness in Greece

Belke, Ansgar Hubertus - 2015

We scrutinize the role of capital flows for competitiveness in seven euro-area countries in the context of real convergence and crisis with a specific focus on Greece. The paper extends the seminal Balassa-Samuelson model to include international capital markets. Capital flows are assumed to be...

Persistent link: https://www.econbiz.de/10013012270