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Short-term capital, economic transformation, and EU accession
Lusinyan, Lusine; Buch, Claudia M. - 2002
One key focus of the on-going debate on the integration of international financial markets have been measures to lengthen the maturity of foreign debt, as short-term debt is typically considered to be highly volatile. The transition economies of Central and Eastern Europe are one group of...
Persistent link: https://www.econbiz.de/10011431146
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Capital and trade flows in Europe and the impact of enlargement
Buch, Claudia M.; Piazolo, Daniel - 2000
The Eastern enlargement of the European Union (EU) is likely to give a further boost to trade and capital flows, yet empirical evidence on the possible magnitudes is still scarce. This paper uses four different datasets to estimate the determinants of international asset holdings and trade...
Persistent link: https://www.econbiz.de/10011472489
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Capital mobility and EU enlargement
Buch, Claudia M. - 1999
and investment. A comparison with the southern members of the EU shows that the countries under review have reached a …
Persistent link: https://www.econbiz.de/10011474898
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FDI and domestic investment : an industry-level view
Arndt, Christian; Buch, Claudia M.; Schnitzer, Monika - 2007
Previous empirical work on the link between domestic and foreign investment provides mixed results which partly depend … investment (FDI) cannot be gauged using firm-level data. Aggregated data, in turn, miss channels through which domestic and … investment. We theoretically show that the effects of FDI on the domestic capital stock depend on the structure of industries and …
Persistent link: https://www.econbiz.de/10010383026
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Implementing the Golden Rule for Public Investment in Europe: Safeguarding Public Investment and Supporting the Recovery
Truger, Achim - WWWforEurope - 2015
constraints of the SGP has driven many member states into austerity. In contrast, the golden rule of public investment proposed in … public finance and would allow financing net public investment by government deficits thus promoting intergenerational … fairness as well as economic growth. A pragmatic version focusing on net public investment as defined in the national accounts …
Persistent link: https://www.econbiz.de/10011228299
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Macroeconomic co-ordination as an economic policy concept : opportunities and obstacles in the EMU
Truger, Achim; Hein, Eckhard - Wirtschafts- und Sozialwissenschaftliches Institut, … - 2004
This paper traces the euro zone?s inadequate macroeconomic performance in recent years back to the predominance of a restrictive macroeconomic policy mix based on a ?new monetarist? approach to economic policy. An approach based on a (post-)Keynesian analysis is presented as a growth and...
Persistent link: https://www.econbiz.de/10009327899
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European Monetary Union: Nominal convergence, real divergence and slow growth? An investigation into the effects of changing macroeconomic policy institutions associated with monet...
Hein, Eckhard; Truger, Achim - Wirtschafts- und Sozialwissenschaftliches Institut, … - 2002
It is by now widely accepted that the structural characteristics of the countries to become the euro area did not adhere to the conditions of an optimum currency area (OCA) when the euro was introduced in 1999. However, the satisfaction of OCA criteria may not be required for a workable currency...
Persistent link: https://www.econbiz.de/10009327917
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"Fiscal Policy and Rebalancing in the Euro Area: A Critique of the German Debt Brake from a Post-Keynesian Perspective"
Hein, Eckhard; Truger, Achim - Levy Economics Institute - 2013
and/or investment and savings behavior in Germany. …
Persistent link: https://www.econbiz.de/10010697208
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From the Stability Pact to ESM - What next?
Buch, Claudia M. - Institut für Angewandte Wirtschaftsforschung (IAW) - 2012
Europe is struggling with the resolution of the severe debt crisis and is in the process of overhauling its institutional set up. One element of the reform agenda is the European Stability Mechanism (ESM) which is intended to provide liquidity assistance to countries in case financial stability...
Persistent link: https://www.econbiz.de/10010762084
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Austerity, cyclical adjustment and the remaining leeway for expansionary fiscal policies in the Euro area
Truger, Achim - Institut für Makroökonomie und Konjunkturforschung … - 2014
Fiscal policy in the Euro area is still dominated by austerity measures implemented under the institutional setting of the 'reformed' stability and growth pact, and the even stricter 'fiscal compact'. At the same time, calls for a more expansionary fiscal policy to overcome the economic crisis...
Persistent link: https://www.econbiz.de/10011098356