The Euro Area Business Cycle
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The Euro Area Business Cycle
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Author : Lucrezia Reichlin
language : en
Publisher: Centre for Economic Policy Research
Release Date : 2004
The Euro Area Business Cycle written by Lucrezia Reichlin and has been published by Centre for Economic Policy Research this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Business cycles categories.
A Fresh Look At Business Cycle Synchronisation In The Euro Area
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Author : Christian Gayer
language : en
Publisher:
Release Date : 2007
A Fresh Look At Business Cycle Synchronisation In The Euro Area written by Christian Gayer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Business categories.
A Meta Analysis Of Business Cycle Correlation Between The Euro Area And The Ceecs
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Author : Jarko Fidrmuc
language : en
Publisher:
Release Date : 2004
A Meta Analysis Of Business Cycle Correlation Between The Euro Area And The Ceecs written by Jarko Fidrmuc and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Economics categories.
Tiivistelmä.
Business Cycle Synchronisation And Economic Integration
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Author : Marcus Kappler
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-07-30
Business Cycle Synchronisation And Economic Integration written by Marcus Kappler and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-07-30 with Business & Economics categories.
This book offers the reader a state-of-the-art overview on theory and empirics of business cycle synchronisation, structural reform and economic integration. Focusing on the ongoing integration process in the euro area and the EU, it analyses the integration process that has taken place since the 1980s and which is marked by the advent of the euro and the substantial enlargement that resulted from the accession of 12 new Member States in East and Southern Europe.
The Euro Area Business Cycle
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Author : Lucrezia Reichlin
language : en
Publisher:
Release Date : 2004
The Euro Area Business Cycle written by Lucrezia Reichlin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with categories.
The Austrian Business Cycle In The European Context
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Author : Marcus Scheiblecker
language : en
Publisher: Peter Lang
Release Date : 2008
The Austrian Business Cycle In The European Context written by Marcus Scheiblecker and has been published by Peter Lang this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Business & Economics categories.
Dating business cycle turning points is still an important task for economic policy decisions. This study does this for the Austrian economy for the period between 1976 and 2005, using only quarterly national accounts data of Austria, Germany and the euro area. Three different filtering methods are applied: first-order differences, the Hodrick-Prescott filter, and the Baxter-King filter. To all of them, two different methods of determining the business cycle are applied: the ad-hoc determination of the business cycle and a dynamic factor model, taking into account the common variations of Austria, the euro area and the German business cycle movements. The results of both methods are dated by the Bry-Boschan algorithm in order to locate peaks and troughs of the cycle. The results are interpreted and compared to already exiting studies on the euro area and the Austrian business cycle.
Meta Analysis Of The Business Cycle Correlation Between The Euro Area And The Ceecs
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Author : Jarko Fidrmuc
language : en
Publisher:
Release Date : 2013
Meta Analysis Of The Business Cycle Correlation Between The Euro Area And The Ceecs written by Jarko Fidrmuc and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
We review the literature on business cycle correlation between the euro area and the Central and Eastern European countries (CEECs), a topic that has gained attention as the newest EU members approach monetary union. Our meta-analysis of 35 identified publications suggests some CEECs already have comparably high correlation with the euro area business cycle. We find that estimation methodologies can have a significant effect on correlation coefficients. While CEEC central bankers tend to be more conservative in their estimates than academics or eurosystem researchers, we find no evidence of a geographical bias in the studies.
Euro Area Policies
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Author : International Monetary Fund. European Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2017-07-25
Euro Area Policies written by International Monetary Fund. European Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-07-25 with Business & Economics categories.
This paper focuses on the convergence performance of euro area countries before and after euro introduction. The analysis compares per capita incomes across countries, both for the initial group of twelve countries that adopted the euro before 2002 (the so-called EA-12) as well as the current group of 19 euro area members (EA-19). The convergence process has stalled since the introduction of the euro, except for new euro area members which reduced their income gaps vis-à-vis the founding members until their adoption of the common currency. The convergence of income levels is not a prerequisite for a functioning monetary union, but has been considered an important objective of the European economic integration process. Lagging productivity growth in countries with lower initial GDP per capita is found to be the main explanation for the lack of convergence, suggesting that structural reforms can help to restart the convergence process.
The Euro Area Government Spending Multiplier At The Effective Lower Bound
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Author : Adalgiso Amendola
language : en
Publisher: International Monetary Fund
Release Date : 2019-06-28
The Euro Area Government Spending Multiplier At The Effective Lower Bound written by Adalgiso Amendola and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-06-28 with Business & Economics categories.
We build a factor-augmented interacted panel vector-autoregressive model of the Euro Area (EA) and estimate it with Bayesian methods to compute government spending multipliers. The multipliers are contingent on the overall monetary policy stance, captured by a shadow monetary policy rate. In the short run (one year), whether the fiscal shock occurs when the economy is at the effective lower bound (ELB) or in normal times does not seem to matter for the size of the multiplier. However, as the time horizon increases, multipliers diverge across the two regimes. In the medium run (three years), the average multiplier is about 1 in normal times and between 1.6 and 2.8 at the ELB, depending on the specification. The difference between the two multipliers is distributed largely away from zero. More generally, the multiplier is inversely correlated with the level of the shadow monetary policy rate. In addition, we verify that EA data lend support to the view that the multiplier is larger in periods of economic slack, and we show that the shadow rate and the state of the business cycle are autonomously correlated with its size. The econometric approach deals with several technical problems highlighted in the empirical macroeconomic literature, including the issues of fiscal foresight and limited information.
Economic Convergence In The Euro Area Coming Together Or Drifting Apart
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Author : Mr.Jeffrey R. Franks
language : en
Publisher: International Monetary Fund
Release Date : 2018-01-23
Economic Convergence In The Euro Area Coming Together Or Drifting Apart written by Mr.Jeffrey R. Franks and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-01-23 with Business & Economics categories.
We examine economic convergence among euro area countries on multiple dimensions. While there was nominal convergence of inflation and interest rates, real convergence of per capita income levels has not occurred among the original euro area members since the advent of the common currency. Income convergence stagnated in the early years of the common currency and has reversed in the wake of the global economic crisis. New euro area members, in contrast, have seen real income convergence. Business cycles became more synchronized, but the amplitude of those cycles diverged. Financial cycles showed a similar pattern: sychronizing more over time, but with divergent amplitudes. Income convergence requires reforms boosting productivity growth in lagging countries, while cyclical and financial convergence can be enhanced by measures to improve national and euro area fiscal policies, together with steps to deepen the single market.