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Is Corruption Efficiency-Enhancing? A Case Study of Nine Central and Eastern European Countries

Gamberoni, Elisa - 2016

We investigate the role of corruption in the business environment in explaining the efficiency of within-sector production factor allocation across firms in nine Central and Eastern European countries in the period 2003-2012. Using a conditional convergence model, we find evidence of a positive...

Persistent link: https://www.econbiz.de/10012984204

Cyclical and Structural Variation in Resource Allocation : Evidence for Europe

Bartelsman, Eric J.; López-García, Paloma; … - 2021

This paper uses cross-country micro-aggregated data on firm dynamics and productivity from the ECB CompNet database to provide empirical evidence on factor reallocation in the European Union (EU). The analysis finds that reallocation is towards more productive firms although the magnitude varies...

Persistent link: https://www.econbiz.de/10013315373

Who Bears Interest Rate Risk?

Hoffmann, Peter; Langfield, Sam; Pierobon, Federico; … - 2021

We study the allocation of interest rate risk within the European banking sector using novel data. Banks’ exposure to interest rate risk is small on aggregate, but heterogeneous in the cross-section. In contrast to conventional wisdom, net worth is increasing in interest rates for...

Persistent link: https://www.econbiz.de/10013315407

Did COVID-19 Induce a Reallocation Wave?

Consolo, Agostino; Petroulakis, Filippos - 2022

Recent research has argued that the COVID-19 shock has also brought about a reallocation shock. We examine the evidence for such an occurrence in the United States, taking a broad perspective. We first consider micro data from CPS and JOLTS; there is no noticeable uptick in occupation or sector...

Persistent link: https://www.econbiz.de/10013403176

Optimal Trend Inflation, Misallocation and the Pass-Through of Labour Costs to Prices

Santoro, Sergio; Viviano, Eliana - 2022

We show that a sticky price model featuring firms' heterogeneity in terms of productivity and strategic complementarities in price setting delivers a strictly positive optimal inflation in steady state, differently from standard New Keynesian models. Due to strategic complementarities, more...

Persistent link: https://www.econbiz.de/10014264783

Public pensions and growth

Lambrecht, Stéphane; Michel, Philippe; Vidal, Jean-Pierre - 2001

an overlapping generation economy, in which altruistic parents finance the education of their children and leave bequests … them from investing optimally in the education of their children. We consider two alternative ways of financing a public …

Persistent link: https://www.econbiz.de/10011604136

Cross-country efficiency of secondary education provision: a semi-parametric analysis with non-discretionary inputs

Afonso, António; St. Aubyn, Miguel - 2005

We address the efficiency of expenditure in education provision by comparing the output (PISA results) from the … a semi-parametric model of the education production process using a two-stage procedure. By regressing data envelopment …

Persistent link: https://www.econbiz.de/10011604540

A lost generation? Education decisions and employment outcomes during the U.S. housing boom-bust cycle of the 2000s

Popov, Alexander; Laeven, Luc - 2016

impact of the housing cycle on young Americans' choices related to education and employment. We find that in MSAs which … education and join the workforce, lowering skill formation. During the bust years, the young, especially those without higher … education, were more likely to be unemployed in areas which experienced higher declines in house prices. …

Persistent link: https://www.econbiz.de/10011605937

Government-guaranteed credit and populism

Dautovic, Ernest; Hsieh, Robin - 2024

uneven change in credit conditions during the COVID-19 pandemic and the unprecedented government credit guarantee programme … show that government-guaranteed credit reduced the support for the far right but increased it for the incumbent. The … aware of the government financial support, i.e., where government support is more salient. This study does not aim to …

Persistent link: https://www.econbiz.de/10015199472

Fiscal policy and inflation: Accounting for non-linearities in government debt

Checherita-Westphal, Cristina; Pesso, Tom - 2024

This paper investigates the interplay between discretionary fiscal policy and inflation in the euro area, emphasizing the role of public debt levels in modulating this relationship. It explores how fiscal expansions or contractions influence inflationary pressures, particularly under varying...

Persistent link: https://www.econbiz.de/10015199511