Download or read book Inflation Differentials in the EU A Common Factors Approach with Implications for EU8 Euro Adoption Prospects written by Nada Choueiri and published by International Monetary Fund. This book was released on 2008 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores inflation determinants within the EU and implications for new members' euro adoption plans. Factor analysis partitions observed inflation in EU25 countries into common-origin and country-specific (idiosyncratic) components. Cross-country differences in common-origin inflation within the EU are found to depend on gaps in the initial price level, changes in the nominal effective exchange rate, the quality of institutions, and the economy's flexibility. Idiosyncratic inflation is generally small in magnitude. Nonetheless, the results show that country-specific shocks have systematically pushed down headline inflation, potentially influencing the assessment of compliance with the Maastricht inflation criterion.
Download or read book Philippines written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2014-08-08 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper discusses reasons behind rise of inflation in Philippines. The paper focuses on inflation developments and the monetary policy framework in the Philippines. It employs a global latent factor model to decompose inflation into common drivers and idiosyncratic factors for a sample of 62 countries. Based on these results, it then models inflation in different regions and presents the single country, single equation model and conducts out of sample forecasts to determine consistency with the medium-term inflation target. The common factors modeling of inflation suggests that inflation in the Philippines depends on world commodity price developments and movements in the US dollar effective exchange rate. However, theory suggests that domestic cyclical conditions also matter. We assess the importance of these variables by estimating a Phillips curve augmented by world commodity prices and the nominal exchange rate for 2000–2013. Using the Akaike-Schwartz criterion, the optimal lag length is found to be four. Given the potential for serial correlation and heteroskedasticity, we use the Newey-West standard errors to find the consistent estimates.
Download or read book What Drives Inflation in the New EU Member States written by and published by . This book was released on 2009 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: The workshop discussed cross-country and quantitative analyses of the determinants of inflation in the NMS, focusing in particular on three broad questions: (i) to assess the relative importance of external versus domestic drivers of inflation; (i) to study the relative importance of catching-up and transition-related inflation; (iii) to examine the role of macroeconomic and structural policies in determining the dynamics of inflation in NMS.
Download or read book Inflation Differentials in Europe and Implications for Competitiveness written by and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This note analyses inflation and competitiveness developments in selected EU countries, as input to the 2023 In-Depth Reviews under the Macroeconomic Imbalance Procedure. It aims to provide the analytical basis for the assessment of potential imbalances linked to competitiveness for Czechia, Estonia, Hungary, Latvia, Lithuania, Romania and Slovakia.1 These countries were selected after the first screening for imbalances in the 2023 Alert Mechanism Report on the basis of the evolution of their rates of inflation, unit labour costs and real effective exchange rates. Out of these Member States, only Romania has been considered to experience an imbalance in the 2022 assessment. This note considers the impact of common factors affecting inflation differentials and competitiveness, particularly of commodity price developments, to provide context to the forthcoming In-Depth Reviews under the Macroeconomic Imbalance Procedure. The analysis to anticipate the evolution of potential risks by relying on the most recent data and available forecasts, and places recent developments in the context of changes that have taken place within and before the pandemic period.2 The analysis provided is not exhaustive. At the time of publication of the In-Depth Reviews, more up to date data will inform the assessments that will be made, and the existence or not of imbalances will take on board developments across countries' economies and additional country-specific factors. Since 2019, the EU economies have been faced with a combination of supply and demand shocks that have affected both relative prices and inflation. Throughout the pandemic and after, various bottlenecks have constrained supply. At the same time, containment measures during the acute phase of the pandemic and uncertainty constrained demand, particularly for contact intensive services, affecting relative prices. In the recovery phase, the rapid surge in demand, while supply was still facing constraints, pushed prices up. Price pressures for energy and commodities, but especially for natural gas, were aggravated significantly by Russia's invasion of Ukraine and the disruption of supplies, particularly to Europe.
Download or read book Euro Area Policies Selected Issues written by and published by . This book was released on 2007 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Five Years of an Enlarged EU written by Filip Keereman and published by Springer Science & Business Media. This book was released on 2010-07-23 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Fifth Enlargement that took place in 2004 and 2007 was a milestone in the history of the European Union. Not only because of the large number of acceding countries but also because of their recent political and economic experience. Ten of them had undergone a profound transition from a totalitarian regime to democracy, and from a centrally planned economy to a market-based system. Most of them had income levels signi?cantly below those of the then EU-15. Now, 6 years later, we can clearly see that the process of European integration, both before and after 2004, was what enabled Europe to overcome the gaps between various parts of the continent. The enlargement made Europe a better and wealthier place and streng- ened its position in the world. Integration into the European Union has always been one of the strongest incentives for reform in the new Member States. Particularly important in my view have been the development of ?nancial markets through foreign direct investment and capital in?ows, and the opening of labour markets – which was a two-way phenomenon, with markets being opened up in acceding as well as the incumbent Member States. The Fifth Enlargement was thus an exercise of glo- lisation in miniature, a practice run for the Union to tackle the challenges of the ever smaller world.
Download or read book A European Minimum Wage Implications for Poverty and Macroeconomic Imbalances written by Ms.Enrica Detragiache and published by International Monetary Fund. This book was released on 2020-05-22 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: A hypothetical European Minimum Wage (MW) set at 60 percent of each country’s median wage would reduce in-work poverty but have limited effects on overall poverty, as many poor households do not earn a wage near MW and higher unemployment, higher prices, and a loss of social insurance benefits may erode direct benefits. Turning to competitiveness, since the MW increase to reach the European standard would be larger in euro area countries with excessive external surpluses, the associated real appreciation should help curb existing imbalances. However, a few countries with already weak external positions would experience an undesirable real appreciation.
Download or read book Fiscal Policy and Long Term Growth written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-04-20 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.
Download or read book Rigged Rules and Double Standards written by Kevin Watkins and published by Oxfam. This book was released on 2002 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: A critical and detailed analysis of inequalities of world trade systems.
Download or read book Background Studies for the ECB s Evaluation of Its Monetary Policy Strategy written by Otmar Issing and published by . This book was released on 2003 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Migration and Remittances written by Ali M. Mansoor and published by World Bank Publications. This book was released on 2006 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: Migration in Eastern Europe and Central Asia is relatively large by international standards, driven both by political factors (the 1990 collapse of the Soviet system, ensuing emergence of conflicts and new states, and opening of borders with Europe) and economic factors (abrupt economic deterioration and corresponding search for better employment and living conditions). The report anlayzes the different kinds of migration as well as the policies on both sides of the equation to limit negative side effects (like emargination, criminal activities, and brain drain) and maximize positive ones (increased labor pool for services, remittances, return migration with improved human and financial capital).
Download or read book EU Labor Markets After Post Enlargement Migration written by Martin Kahanec and published by Springer Science & Business Media. This book was released on 2009-10-10 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: Selected by Princeton University as Noteworthy Book in Industrial Relations and Labor Economics for 2010. Are immigrants from the new EU member states a threat to the Western welfare state? Do they take jobs away from the natives? And will the source countries suffer from severe brain drain or demographic instability? In a timely and unprecedented contribution, this book integrates what is known about post-enlargement migration and its effects on EU labor markets. Based on rigorous analysis and hard data, it makes a convincing case that there is no evidence that the post-enlargement labor migrants would on aggregate displace native workers or lower their wages, or that they would be more dependent on welfare. While brain drain may be a concern in the source countries, the anticipated brain circulation between EU member states may in fact help to solve their demographic and economic problems, and improve the allocative efficiency in the EU. The lesson is clear: free migration is a solution rather than a foe for labor market woes and cash-strapped social security systems in the EU.
Download or read book EIB Investment Report 2019 2020 written by European Investment Bank and published by European Investment Bank. This book was released on 2019-11-26 with total page 634 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Investment Report, issued annually by the European Investment Bank, provides a comprehensive overview and analysis of investment and the financing of investment in the European Union. It combines the exploration of investment trends with in-depth analysis, focusing especially on the drivers and barriers to investment activity. The report leverages on a unique set of databases and survey data, including EIBIS, an annual survey of 13 500 firms in Europe, which focuses on their assessment of investment and investment finance conditions, and which allows analysis with firm balance sheet information. The report provides critical inputs to policy debates on the need for public action on investment, and on the types of intervention that can have the greatest impact.
Download or read book Economic Implications of Chronic Illness and Disability in Eastern Europe and the Former Soviet Union written by Cem Mete and published by World Bank Publications. This book was released on 2008-01-01 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: A significant portion of the population in the Eastern Europe and Central Asia region are either in poor health or disabled. This research shows that the linkages between disability and economic and social outcomes of interest tend to be stronger in transition countries when compared with industrialized countries. Reasons for this trend include the prevalence of a large informal sector in many developing countries, relatively weak targeting performance of social assistance programs (especially in poor transition countries), and unavailability of broad based insurance mechanisms to protect individuals against loss of income due to unexpected illness.
Download or read book The New World of Work written by Vaughan-Whitehead, Daniel and published by Edward Elgar Publishing. This book was released on 2021-12-16 with total page 672 pages. Available in PDF, EPUB and Kindle. Book excerpt: Actors in the world of work are facing an increasing number of challenges, including automatization and digitalization, new types of jobs and more diverse forms of employment. This timely book examines employer and worker responses, challenges and opportunities for social dialogue, and the role of social partners in the governance of the world of work.
Download or read book Perspectives for the Unification and Harmonisation of Family Law in Europe written by Katharina Boele-Woelki and published by Intersentia nv. This book was released on 2003 with total page 600 pages. Available in PDF, EPUB and Kindle. Book excerpt: Is the unification and harmonisation of (international) family law in Europe necessary? Is it feasible, desirable and possible? Reading the different contributions to this book may certainly inspire those who would like to find the right answers to these questions.
Download or read book The Foreign Policy of the European Union written by Federiga M. Bindi and published by Brookings Institution Press. This book was released on 2012 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Explores European foreign policy and the degree of European Union success in proposing itself as a valid international actor, drawing from the expertise of scholars and practitioners in many disciplines. Addresses issues past and present, theoretical and practice-oriented, and country- and region-specific"-- Provided by publisher.
