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In order to improve our understanding of the channels through which monetary policy has distributional consequences, we build a New Keynesian model with incomplete asset markets, asymmetric search and matching (SAM) frictions across skilled and unskilled workers and, foremost, capital-skill...
Persistent link: https://www.econbiz.de/10011853562
heavily indebted Euro area countries, namely the so-called GIIPS group (Greece, Ireland, Italy, Portugal, and Spain). Using …
Persistent link: https://www.econbiz.de/10011376318
This paper presents an empirical assessment of the endogenous optimum currency area theory. Frankel and Rose (1998) study the endogeneity of a currency union through the lens of international trade flows. Our study extends Frankel and Rose's model by using FDI flows to test the original theory...
Persistent link: https://www.econbiz.de/10003760087
representative household microdata from 11 Eurozone countries to simulate these policy reforms and to study their effects on the … that not all forms of fiscal integration will improve macroeconomic stability in the Eurozone. -- European income tax …
Persistent link: https://www.econbiz.de/10009545267
representative household microdata from 11 Eurozone countries to simulate these policy reforms and to study their effects on the … that not all forms of fiscal integration will improve macroeconomic stability in the Eurozone. -- European income tax …
Persistent link: https://www.econbiz.de/10009667120
Competitiveness differentials are blamed for the instability of the Eurozone. Most of the analyses focus on labour … additional dividends. The yearly charge counts for at least 4% of their value added. -- Eurozone ; competitiveness ; non …
Persistent link: https://www.econbiz.de/10009715724
We examine the trajectories of the real unit labour costs (RULCs) in a selection of Eurozone economies. Strong …
Persistent link: https://www.econbiz.de/10010369774
This paper explores the long run relationship between public and private investment in the euro area in terms of … investment might have restricted private investment and GDP growth in the euro area. The results have strong implications for the … future direction of fiscal austerity programs to combat the euro area debt crisis. …
Persistent link: https://www.econbiz.de/10010252646
We analyze different alternatives how a common unemployment insurance system for the euro area (EA) could be designed …
Persistent link: https://www.econbiz.de/10010423760
This paper focuses on the euro area wage structure and its potential determinants from a sectoral viewpoint. Merging …-country panel of 22 industries in 8 euro area countries for 1991-2002. Data inspection confirms the existence of a fairly stable … explaining inter-industry wage differentials in the euro area. Both workforce characteristics (e.g., human capital variables) and …
Persistent link: https://www.econbiz.de/10003831202