Similar Search Results

Trends and cycles in the euro area: how much heterogeneity and should we worry about it?

Giannone, Domenico; Reichlin, Lucrezia - 2006

Not so much and we should not, at least not yet.

Persistent link: https://www.econbiz.de/10011604641

Giannone, Domenico; Lenza, Michele; Reichlin, Lucrezia - 2009

This paper shows that the EMU has not affected historical characteristics of member countries’ business cycles and their cross-correlations. Member countries which had similar levels of GDP per-capita in the seventies have also experienced similar business cycles since then and no significant...

Persistent link: https://www.econbiz.de/10011605056

Convergence in GDP per Capita in the Euro Area and the EU at the Time of COVID-19

Licchetta, Mirko; Mattozzi, Giovanni - In: Intereconomics 58 (2023) 1, pp. 43-51

This paper investigates determinants of convergence in GDP per capita in the euro area and the EU between 1995 and 2021. It finds that the COVID-19 crisis temporarily slowed convergence but the estimated negative impact is significantly smaller than during the global financial crisis. Diverging...

Persistent link: https://www.econbiz.de/10014334683

Early estimates of euro area real GDP growth: a bottom up approach from the production side

Hahn, Elke; Skudelny, Frauke - 2008

This paper derives forecasts for euro area real GDP growth based on a bottom up approach from the production side. That is, GDP is forecast via the forecasts of value added across the different branches of activity, which is quite new in the literature. Linear regression models in the form of...

Persistent link: https://www.econbiz.de/10011605021

The euro area Bank Lending Survey matters: empirical evidence for credit and output growth

de Bondt, Gabe; Maddaloni, Angela; Peydró, José-Luis; … - 2010

This study examines empirically the information content of the euro area Bank Lending Survey for aggregate credit and output growth. The responses of the lending survey, especially those related to loans to enterprises, are a significant leading indicator for euro area bank credit and real GDP...

Persistent link: https://www.econbiz.de/10011605206

Globalisation and the euro area: simulation based analysis using the New Area Wide Model

Straub, Roland; Jacquinot, Pascal - 2008

In this paper, we utilise the multi-country version of the NAWM to analyse the impact of globalisation on euro area macroeconomic aggregates. We provide alternative model-based definitions of globalisation associated with an increase in potential output in emerging Asia and its impact on total...

Persistent link: https://www.econbiz.de/10011604953

Fiscal policy shocks in the euro area and the US: an empirical assessment

Burriel, Pablo; de Castro Fernández, Francisco; … - 2009

We analyse the impact of fiscal policy shocks in the euro area as a whole, using a newly available quarterly dataset of fiscal variables for the period 1981-2007. To allow for comparability with previous results on euro area countries and the US, we use a standard structural VAR framework, and...

Persistent link: https://www.econbiz.de/10011605179

Business Cycle Extraction of Euro-Zone GDP: Direct versus Indirect Approach

Astolfi, Roberto; Ladiray, Dominique; Mazzi, Gian Luigi - In: Vierteljahrshefte zur Wirtschaftsforschung 70 (2001) 3, pp. 377-398

Most of the Euro-zone economic short-term indicators are computed through aggregation from Member States data. The … given in the paper. An application to the Euro-zone GDP is presented. The same aggregation problem encountered in the case … widely used in the literature, we extracted the cycle indicator for the Euro-zone employing the Baxter-King filter to data …

Persistent link: https://www.econbiz.de/10010377546

Output and inflation responses to credit shocks: are there threshold effects in the euro area?

Calza, Alessandro; Sousa, João - 2005

This paper investigates whether output and inflation respond asymmetrically to credit shocks in the euro area. The methodology, based on a non-linear VAR system, follows work by Balke (2000) for the US. The results reveal evidence of threshold effects related to credit conditions in the economy....

Persistent link: https://www.econbiz.de/10011604527

The natural real interest rate and the output gap in the euro area: a joint estimation

Garnier, Julien; Wilhelmsen, Bjørn-Roger - 2005

The notion of a natural real rate of interest, due to Wicksell (1936), is widely used in current central bank research. The idea is that there exists a level at which the real interest rate would be compatible with output being at its potential and stationary inflation. This paper applies the...

Persistent link: https://www.econbiz.de/10011604592