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The Feldstein-Horioka Fact
Giannone, Domenico; Lenza, Michele - 2021
This paper shows that general equilibrium effects can partly rationalize the high correlation between saving and investment rates observed in OECD countries. We find that once controlling for general equilibrium effects the saving-retention coefficient remains high in the 70's but decreases...
Persistent link: https://www.econbiz.de/10013316585
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Inflation Persistence : Euro Area and New EU Member States
Franta, Michal - 2009
Is inflation persistence in the new EU Member States (NMS) comparable to that in the euro area countries? We argue that …
Persistent link: https://www.econbiz.de/10012767014
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Adjusting to the Euro
Fagan, Gabriel - 2007
In this paper we argue that, for a group of converging economies of the European Union, participation in the euro area has been associated with easier access to financing by domestic economic agents. Easier access to financing was a significant impulse leading to a sharp increase in households'...
Persistent link: https://www.econbiz.de/10012778006
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Fiscal Convergence Before Entering the Emu
Onorante, Luca - 2006
the European Union (EU), followed by participation in the so-called Exchange Rate Mechanism (ERM) II and ultimately entry …
Persistent link: https://www.econbiz.de/10012779801
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Optimal Reserve Composition in the Presence of Sudden Stops : The Euro and the Dollar as Safe Haven Currencies
Beck, Roland - 2008
We analytically derive optimal central bank portfolios in a minimum variance framework with two assets and quot;transaction demandsquot; caused by sudden stops in capital inflows. In this model, the transaction demands become less important relative to traditional portfolio objectives as debt to...
Persistent link: https://www.econbiz.de/10012771394
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Fiscal and Monetary Policy in the Enlarged European Union
Pogorelec, Sabina - 2021
I build a quantitative two-country DSGE model of the European Union (EU) and investigate whether there are welfare … gains from fiscal policy cooperation between the new EU members and the euro area (EMU). Fiscal cooperation is defined in … firms in the new EU countries. When there is no foreign ownership in the new EU countries, the euro area is indifferent …
Persistent link: https://www.econbiz.de/10013317557
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Long-Run Money Demand in the New EU Member States with Exchange Rate Effects
Dreger, Christian; Reimers, Hans-Eggert; Roffia, Barbara - 2021
analysis in the new Member States of the European Union (EU) is conducted using panel cointegration methods. A well … euro exchange rate. The present analysis is of importance for the new EU Member States as they are expected to join in the …
Persistent link: https://www.econbiz.de/10013317611
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Trade Integration of Central and Eastern European Countries : Lessons from a Gravity Model
Bussière, Matthieu; Fidrmuc, Jarko; Schnatz, Bernd - 2021
This paper analyses the rapid trade integration of the Central and Eastern European countries (CEEC's) with the euro area in the past ten years and draws implications for further integration. We use as benchmark an enhanced gravity model estimated for a large sample of bilateral trade flows...
Persistent link: https://www.econbiz.de/10013318195
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Brexit, What Brexit? Euro Area Portfolio Exposures to the United Kingdom Since the Brexit Referendum
Carvalho, Daniel; Schmitz, Martin - 2022
from the EU. Our sector-level analysis "looks-through" holdings of investment fund shares to gauge euro area sectors' full …
Persistent link: https://www.econbiz.de/10014239454
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Cross-Border Production Chains and Business Cycle Co-Movement between Central and Eastern European Countries and Euro Area Member States
Iossifov, Plamen K. - 2021
In this paper, we highlight the role of global value chains in the synchronization of economic activity between countries in Central and Eastern Europe (CEE) and the euro area. We start off by demonstrating that the degree of synchronization of the business cycles of CEE countries and their main...
Persistent link: https://www.econbiz.de/10013315647