Now showing items 1-10 of 15
Catching-up and inflation in Europe: Balassa-Samuelson, Engel’s Law and other Culprits
(2010-06-01)
This study analyses the impact of economic catching-up on annual inflation rates in the European Union with a special focus on the new member countries of Central and Eastern Europe. Using an array of estimation methods, ...
The Efficiency and Equity of the Tax and Transfer System in France
(2013-04-01)
Taxes and cash transfers reduce income inequality more in France than elsewhere in the OECD, because of the large size of the flows involved. But the system is complex overall. Its effectiveness could be enhanced in many ...
The Impact of Monetary and Commodity Fundamentals, Macro News and Central Bank Communication on the Exchange Rate: Evidence from South Africa
(2009-04-01)
This paper studies drivers of high-frequency (daily) dynamics of the South African rand vis-à-vis the dollar from January 2001 to July 2007. We find strong nonlinear effects of commodity prices, perceived country and ...
Contagion Across and Integration of Central and Eastern European Stock Markets: Evidence from Intraday Data
(2005-11-01)
We analyze interrelations between three stock markets in Central and Eastern Europe and, in addition, interconnections which may exist between Western European (DAX, CAC, UKX) and Central and Eastern European stock markets ...
Infrastructure and Growth: Empirical Evidence
(2009-04-01)
Investment in network infrastructure can boost long-term economic growth in OECD countries. Moreover, infrastructure investment can have a positive effect on growth that goes beyond the effect of the capital stock because ...
Real Convergence, Price Level Convergence and Inflation Differentials in Europe
(2007-11-01)
This paper provides a comprehensive review of the factors that can cause price levels to diverge and which are at the root of different inflation rates in Europe including the EU-27. Among others, we study the structural ...
MODELING INSTITUTIONS, START-UPS AND PRODUCTIVITY DURING TRANSITION
(2010-02-01)
Central and Eastern European and the Baltic countries, which opted for a fast and profound transformation of their institutions including business climates, rapidly narrowed the productivity gap with advanced economies. ...
The 90% Public Debt Threshold: The Rise & Fall of a Stylised Fact
(2013-05-01)
This paper analyses the original Reinhart-Rogoff dataset, made public by Herndon et al. (2013), on the basis of descriptive statistics and formal econometric testing.
The Real Exchange Rate and External Competitiveness in Egypt, Morocco and Tunisia
(2014-01-01)
Egypt, Morocco and Tunisia face challenges competing on the global markets, as shown by their relatively low and stagnant export shares. The limited export competitiveness has hampered external demand, growth and employment. ...
The VARying Effect of Foreign Shocks in Central and Eastern Europe
(2010-05-01)
This paper investigates the impact of international shocks – interest rate, commodity price and industrial production shocks – on key macroeconomic variables in ten Central and Eastern European (CEE) countries by using ...