A European Disease? Non-tradable Inflation and Real Interest Rate Divergence [PDF]
CESifo Economic Studies, 2017 This paper studies the contribution of real interest rate divergence to the dynamics of the relative price of non-tradables within Europe. Based on a model by De Gregorio et al. (1994), it shows that the real interest rate fall in the Euro Area (EA) periphery following the single currency's inception induced an increase in the relative price of non ...
openaire +1 more source
Inflation dynamics and dual inflation in accession countries: a 'New Keynesian' perspective [PDF]
This paper examines inflation dynamics in the current EU-accession countries in central and eastern Europe, focusing particularly on the determinants of 'dual inflation', that is, diverging inflation rates for tradable and non-tradable goods.
Arratibel, Olga +2 more
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Environmental Tax Reform in a Small Open Economy with Structural Unemployment [PDF]
The paper examines the effects of an environmental tax reform in a model of a small open economy with decentralised wage bargaining and monopolistically competitive firms.
Holmlund, Bertil, Kolm, Ann-Sofie
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What explains high unemployment? The aggregate demand channel [PDF]
A drop in aggregate demand driven by shocks to household balance sheets is responsible for a large fraction of the decline in U.S. employment from 2007 to 2009.
Amir Sufi, Atif R. Mian
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Equilibrium Exchange Rates in Transition Economies: Taking Stock of the Issues [PDF]
, 2005 In this paper we present an overview of a number of issues relating to the equilibrium exchange rates of transition economies of the former soviet bloc.
Halpern, László +2 more
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A Quasilinear Parabolic Equation with Quadratic Growth of the Gradient modeling Incomplete Financial Markets [PDF]
We consider a quasilinear parabolic equation with quadratic gradient terms. It arises in the modelling of an optimal portfolio which maximizes the expected utility from terminal wealth in incomplete markets consisting of risky assets and non-tradable ...
Ansgar Jüngel, Bertram Düring
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Tradable Permits vs Ecological Dumping [PDF]
In this paper we examine an alternative policy scenario, where governments allow polluting Ã??rms to trade permits in a strategic environmental policy model.
Fabio Antoniou +2 more
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Some Economic Results of the Civilizing Mission [PDF]
This paper proposes three tasks. It briefly delineates the character of the civilizing mission and the interests it served, especially the colonization of Asia and Africa.
Alam, M. Shahid
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How openness to trade rescued the Irish economy. ESRI WP608, December 2018 [PDF]
, 2018 In this paper we examine the performance of the Irish economy over the period 2008 to 2014. In particular we examine whether the recovery observed was due to the successful adoption of structural reforms in labour and product markets or whether the ...
McQuinn, Kieran, Varthalitis, Petros
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Effects of External Debt on Domestic Resource Allocation in a Small Open Economy with Limited Access to the World Capital Market [PDF]
This paper studies a small open economy with a large external debt. It begins by considering the long-term effects of shocks in the international capital market and domestic fiscal policy on the amount of outstanding external debt and the domestic ...
Fujiki, Hiroshi, Watanabe, Kiyoshi
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