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The effect of durable goods and ICT on euro area productivity growth?
Jalava, Jukka; Kavonius, Ilja Kristian - 2008
purchase of durable goods as investments and thus, the treatment of durables as capital assets conceptually does not differ … and productivity change; when expenditure on consumer durables is recorded as capital investment. The capitalization of … consumer durables impacts both the levels and growth rates of the capital stock, productivity and GDP. Our growth accounting …
Persistent link: https://www.econbiz.de/10011604986
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The Effect of Durable Goods and ICT on Euro Area Productivity Growth?
Jalava, Jukka - 2008
purchase of durable goods as investments and thus, the treatment of durables as capital assets conceptually does not differ … and productivity change; when expenditure on consumer durables is recorded as capital investment. The capitalization of … consumer durables impacts both the levels and growth rates of the capital stock, productivity and GDP. Our growth accounting …
Persistent link: https://www.econbiz.de/10012770430
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The Euro Plus Pact : Cost Competitiveness and External Capital Flows in the EU Countries
Gabrisch, Hubert - 2014
thus partly be the result of capital flows from the core of Europe to the periphery prior to the global financial crisis …
Persistent link: https://www.econbiz.de/10013058551
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Economic Policy Uncertainty in the Euro Area : An Unsupervised Machine Learning Approach
Azqueta-Gavaldon, Andres - 2020
We model economic policy uncertainty (EPU) in the four largest euro area countries by applying machine learning techniques to news articles. The unsupervised machine learning algorithm used makes it possible to retrieve the individual components of overall EPU endogenously for a wide range of...
Persistent link: https://www.econbiz.de/10012844456
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Switching-Track after the Great Recession
Vinci, Francesca; Licandro, Omar - 2021
We propose a theoretical framework to reconcile episodes of V-shaped and L-shaped recovery, encompassing the behaviour of the U.S. economy before and after the Great Recession. In a DSGE model with endogenous growth, negative demand shocks destroy productive capacity, moving GDP to a lower...
Persistent link: https://www.econbiz.de/10013210843
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GDP revisions are not cool: The impact of statistical agencies' trade-off
Asimakopoulos, Stylianos; Lalik, Magdalena; Paredes, Joan; … - 2023
Official estimates of economic growth are regularly revised and therefore forecasts for GDP growth are done on the basis of ever-changing data. The economic literature has intensively studied the properties of those revisions and their implications for forecasting models. However, it is much...
Persistent link: https://www.econbiz.de/10014543683
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The globalization of climate change: Amplification of climate-related physical risks through input-output linkages
Fahr, Stephan; Senner, Richard; Vismara, Andrea - 2024
While global supply chains have recently gained attention in the context of the Covid-related crisis as well as the war in Ukraine, their role in transmitting and amplifying climate-related physical risks across countries has received surprisingly little attention. To address this shortcoming,...
Persistent link: https://www.econbiz.de/10014565218
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Is the top tail of the wealth distribution the missing link between the Household Finance and Consumption Survey and national accounts?
Chakraborty, Robin; Kavonius, Ilja Kristian; … - 2018
The financial accounts of the household sector within the system of national accounts report the aggregate asset holdings and liabilities of all households within a country. In principle, when household wealth surveys are explicitly designed to be representative of all households, aggregating...
Persistent link: https://www.econbiz.de/10012142031
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Missing the wealthy in the HFCS: Micro problems with macro implications
Chakraborty, Robin; Waltl, Sofie R. - 2018
Macroeconomic aggregates on households' wealth have a long tradition and are widely used to analyse and compare economies, yet they do not provide any information about the distribution of assets and liabilities within the population. The Household Finance and Consumption Survey (HFCS)...
Persistent link: https://www.econbiz.de/10011916867
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Fiscal data revisions in Europe
de Castro Fernández, Francisco; Pérez, Javier J.; … - 2011
Public deficit figures are subject to revisions, as most macroeconomic aggregates are. Nevertheless, in the case of Europe, the latter could be particularly worrisome given the role of fiscal data in the functioning of EU’s multilateral surveillance rules. Adherence to such rules is judged...
Persistent link: https://www.econbiz.de/10011605388