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On the Importance of Sectoral and Regional Shocks for Price-Setting
Beck, Günter W. - 2011
We use a novel disaggregate sectoral euro area data set with a regional breakdown to investigate price changes and suggest a new method to extract factors from over-lapping data blocks. This allows us to separately estimate aggregate, sectoral, country-specific and regional components of price...
Persistent link: https://www.econbiz.de/10013126869
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Markups in the Euro Area and the US Over the Period 1981-2004 : A Comparison of 50 Sectors
Christopoulou, Rebekka; Vermeulen, Philip - 2021
This paper provides estimates of price-marginal cost ratios or markups for 50 sectors in 8 euro area countries and the US over the period 1981-2004. The estimates are obtained applying the methodology developed by Roeger (1995) on the EU KLEMS March 2007 database. Five stylized facts are...
Persistent link: https://www.econbiz.de/10013316633
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The Impact of Extreme Weather Events on Budget Balances and Implications for Fiscal Policy
Lis, Eliza M. - 2009
This paper explores implications of climate change for fiscal policy by assessing the impact of large scale extreme weather events on changes in public budgets. We apply alternative measures for large scale extreme weather events and conclude that the budgetary impact of such events ranges...
Persistent link: https://www.econbiz.de/10013159926
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Fiscal Sustainability and Policy Implications for the Euro Area
Balassone, Fabrizio - 2009
In this paper we examine the sustainability of euro area public finances against the backdrop of population ageing. We … alternative indicators to quantify sustainability gaps for euro area countries. With respect to the policy implications, we assess … the appropriateness of different budgetary strategies to restore fiscal sustainability taking into account …
Persistent link: https://www.econbiz.de/10012765709
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What Lies Beneath? A Time-Varying FAVAR Model for the UK Transmission Mechanism
Mumtaz, Haroon - 2011
This paper uses a time-varying Factor Augmented VAR to investigate the evolving transmission of monetary policy and demand shocks in the UK. Simultaneous estimation of time-varying impulse responses of a large set of macroeconomic variables and disaggregated prices suggest that the response of...
Persistent link: https://www.econbiz.de/10013128262
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On the importance of sectoral and regional shocks for price-setting
Hubrich, Kirstin; Marcellino, Massimiliano; Beck, Günter W. - 2011
We use a novel disaggregate sectoral euro area data set with a regional breakdown to investigate price changes and suggest a new method to extract factors from over-lapping data blocks. This allows us to separately estimate aggregate, sectoral, country-specific and regional components of price...
Persistent link: https://www.econbiz.de/10011605380
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Markups in the euro area and the US over the period 1981-2004: a comparison of 50 sectors
Christopoulou, Rebekka; Vermeulen, Philip - 2008
This paper provides estimates of price-marginal cost ratios or markups for 50 sectors in 8 euro area countries and the US over the period 1981-2004. The estimates are obtained applying the methodology developed by Roeger (1995) on the EU KLEMS March 2007 database. Five stylized facts are...
Persistent link: https://www.econbiz.de/10011604902
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Towards expenditure rules and fiscal sanity in the euro area
Hauptmeier, Sebastian; Sanchez Fuentes, Jesus; … - 2010
The study looks at primary expenditure developments in the euro area, its three largest members and four “macro-imbalances” countries for the period 1999-2009. It compares actual expenditure trends with those that would have prevailed if countries had followed neutral policies based on...
Persistent link: https://www.econbiz.de/10011605312
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Fiscal Sustainability using Growth-Maximising Debt Targets
Checherita-Westphal, Cristina - 2012
This paper highlights the importance of debt-related fiscal rules and derives growth-maximizing public debt ratios from a simple theoretical model. On the basis of evidence on the productivity of public capital, we estimate public debt targets that governments should try to maintain if they wish...
Persistent link: https://www.econbiz.de/10013100835
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Towards Expenditure Rules and Fiscal Sanity in the Euro Area
Hauptmeier, Sebastian - 2010
The study looks at primary expenditure developments in the euro area, its three largest members and four “macro-imbalances” countries for the period 1999-2009. It compares actual expenditure trends with those that would have prevailed if countries had followed neutral policies based on...
Persistent link: https://www.econbiz.de/10013136395