Download or read book Three Essays on Convergence and Persistence of Prices in the European Union written by Olena Ogrokhina and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of three essays on the persistence and convergence of prices in the European Union. In the first essay I study price differentials in the Eurozone by comparing prices for specific goods between European cities, and estimate their persistence. The second essay tests the effect of the single market and single currency (euro) on price convergence in the European Union. The third essay tests the effect of trade on price convergence. In my first essay, using the Economist Intelligence Unit data I find that the Southern countries of the Eurozone have consistently lower prices. While the Core states such as Germany and France are more expensive, price differentials within the Core are very low. Using panel data I estimate the persistence of deviations from the Law of One Price by employing linear and nonlinear panel unit root tests that account for contemporaneous as well as serial correlation. Based on the linear test, the estimated half-lives of the deviations from the Law of One Price are 13 months for traded goods and 15 months for non-traded goods. Price differentials for certain traded goods revert to parity at different speeds, for example prices for food adjusts much faster than for cars. Splitting the data series for individual goods into stationary and non-stationary components reduces the half-lives to 3 months for traded goods and 5 months for non-traded goods. The results of the nonlinear test suggest that the speed of reversion to parity is constant and independent of the size of the deviations, which implies prices based on good-specific data adjust in a linear rather than a nonlinear fashion. The implementation of international treaties in the European Union was expected to promote integration of consumer markets. In my second essay, I analyze the convergence of prices for a range of traded goods. Large price differentials remain across Europe. Using high income non-euro European countries as a control group, I test the effect of the euro and the earlier implemented Single European Act on the convergence of prices in the European Union. Using a difference-in-difference estimation strategy, I find that the Single European Act, rather than the common currency, reduced price differentials and promoted price convergence. Wide price differences still exist across the members of the European Union. While differentials among the ``old'' EU members have changed little over time, large price differentials between the Eastern and Central EU and the Eurozone have reduced significantly, with prices completely converging to the levels of the Southern EU. In my third essay I test the effect of trade on price differentials. The fixed effects estimate shows strong correlation between price differentials and bilateral trade, a 1\% increase in bilateral trade reduces price differences by 9\%. This finding is completely driven by the Eastern and Central EU. Since the relationship between the price differentials and trade can go in either direction, an instrument is required to estimate a causal relationship. Instrumental-variables strategy shows that the effect of trade on price differentials for the Eastern and Central EU is even larger, at 13\%, yet insignificant for the remaining EU members.
Download or read book Three Essays on European Union Regional Policy written by Florence Bouvet and published by . This book was released on 2006 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Transition to EMU in the Maastricht Treaty written by Lorenzo Bini Smaghi and published by . This book was released on 1994 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Real Exchange Rates and Exchange Rate Arrangements written by Natalia Golotvina and published by . This book was released on 2004 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The European Union in the 21st Century written by Stefano Micossi and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The contributors to this book are all members of EuropEos, a multidisciplinary group of jurists, economists, political scientists, and journalists in an ongoing forum discussing European institutional issues. The essays analyze emerging shifts in common policies, institutional settings, and legitimization, sketching out possible scenarios for the European Union of the 21st century. They are grouped into three sections, devoted to economics and consensus, international projection of the Union, and the institutional framework. Even after the major organizational reforms introduced to the EU by the new Treaty of Lisbon, which came into force in December 2009, Europe appears to remain an entity in flux, in search of its ultimate destiny. In line with the very essence of EuropEos, the views collected in this volume are sometimes at odds in their specific conclusions, but they stem from a common commitment to the European construction.
Download or read book The Economic Future in Historical Perspective written by Paul A. David and published by Oxford University Press. This book was released on 2006-02-23 with total page 548 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this volume, leading modern economic historians show how analysis of past experiences contributes to a better understanding of present-day economic conditions; they offer important insights into major challenges that will occupy the attention of policy makers in the coming decades. The seventeen essays are organised around three major themes, the first of which is the changing constellation of forces sustaining long-run economic growth in market economies. The second major theme concerns the contemporary challenges posed by transitions in economic and political regimes, and by ideologies that represent legacies from past economic conditions that still affect policy responses to new 'crises'. The third theme is modern economic growth's diverse implications for human economic welfare - in terms of economic security, nutritional and health status, and old age support - and the institutional mechanisms communities have developed to cope with the risks that individuals are exposed to by the concomitants of rising prosperity.
Download or read book Dissertation Abstracts International written by and published by . This book was released on 2008 with total page 592 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book One Market One Money written by Michael Emerson and published by . This book was released on 1992 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: The European Community is negotiating a new treaty to establish the constitutional foundations of an economic and monetary union in the course of the 1990s. This study provides the only comprehensive guide to the economic implications of economic and monetary union. The work of an economist inside the Commission of the European Community, it reflects the considerations influencing the design of the union. The study creates a unique bridge between the insights of modern economic analysis and the work of the policy makers preparing for economic and monetary union.
Download or read book The Entrepreneurial Society written by Niklas Elert and published by Springer. This book was released on 2019-08-15 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book builds on the European Union’s (EU) Horizon 2020 project ‘Financial and Institutional Reforms for an Entrepreneurial Society’ (FIRES). The authors outline how Europe can move towards more inclusive, innovative and sustainable growth through reforms that will rekindle its entrepreneurial spirit. Based on decades of research and countless discussions with stakeholders, the book also features the FIRES project’s full list of policy interventions and institutional reforms that can help policymakers make that agenda a reality.
Download or read book Productivity Growth and Economic Performance written by J. McCombie and published by Springer. This book was released on 2002-12-17 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of essays on Verdoorn's Law - the relationship between the growth of industrial productivity and output - presents a number of comprehensive surveys and assessments of the vast literature available. The collection not only includes an English translation of Verdoorn's seminal article originally published in Italian, but also new empirical evidence for the Verdoorn Law and new developments in the theoretical modelling of cumulative causation.
Download or read book Index to Theses with Abstracts Accepted for Higher Degrees by the Universities of Great Britain and Ireland and the Council for National Academic Awards written by and published by . This book was released on 2008 with total page 716 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economic Complexity and Equilibrium Illusion written by Ping Chen and published by Routledge. This book was released on 2010-04-05 with total page 585 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Principle of Large Numbers indicates that macro fluctuations have weak microfoundations; persistent business cycles and interrupted technologies can be better characterized by macro vitality and meso foundations. Economic growth is limited by market extent and ecological constraints. The trade-off between stability and complexity is the foundation of cultural diversity and mixed economies. The new science of complexity sheds light on the sources of economic instability and complexity. This book consists of the major work of Professor Ping Chen, a pioneer in studying economic chaos and economic complexity. They are selected from works completed since 1987, including original research on the evolutionary dynamics of the division of labour, empirical and theoretical studies of economic chaos and stochastic models of collective behavior. Offering a new perspective on market instability and the changing world order, the basic pillars in equilibrium economics are challenged by solid evidence of economic complexity and time asymmetry, including Friedman’s theory of exogenous money and efficient market, the Frisch model of noise-driven cycles, the Lucas model of microfoundations and rational expectations, the Black-Scholes model of option pricing, and the Coase theory of transaction costs. Throughout, a general theory based on complex evolutionary economics is developed, which integrates different insights from Marx, Marshall, Schumpeter, Keynes and offers a new understanding of the evolutionary history of division of labour. This book will be of interest to postgraduates and researchers in Economics, including macroeconomics, financial economics, advanced econometrics and economic methodology.
Download or read book Europe s Foreign and Security Policy written by Michael E. Smith and published by Cambridge University Press. This book was released on 2004 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: The emergence of a common security and foreign policy has been one of the most contentious issues accompanying the integration of the European Union. In this book, Michael Smith examines the specific ways foreign policy cooperation has been institutionalized in the EU, the way institutional development affects cooperative outcomes in foreign policy, and how those outcomes lead to new institutional reforms. Smith explains the evolution and performance of the institutional procedures of the EU using a unique analytical framework, supported by extensive empirical evidence drawn from interviews, case studies, official documents and secondary sources. His perceptive and well-informed analysis covers the entire history of EU foreign policy cooperation, from its origins in the late 1960s up to the start of the 2003 constitutional convention. Demonstrating the importance and extent of EU foreign/security policy, the book will be of interest to scholars, researchers and policy-makers.
Download or read book The Ego and the Id written by Sigmund Freud and published by Courier Dover Publications. This book was released on 2018-02-28 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of Sigmund Freud's most insightful works on the topic of the subconscious, this ground-breaking volume explores the complicated interactions of three elements of the psyche: id, ego, and superego.
Download or read book International Trade and Economic Dynamics written by Takashi Kamihigashi and published by Springer Science & Business Media. This book was released on 2008-10-16 with total page 532 pages. Available in PDF, EPUB and Kindle. Book excerpt: Renowned trade theorist Koji Shimomura passed away in February 2007 at the age of 54. He published nearly 100 articles in international academic journals. The loss of this extremely productive economist has been an enormous shock to the economic profession. This volume has emerged from the great desire on the part of the profession to honor his contributions to economic research. Contributors include authoritative figures in trade theory such as Murray Kemp, Ronald Jones, Henry Wan, and Wilfred Ethier, world-renowned macroeconomists such as Stephen Turnovski and Costas Azariadis, and leading Japanese economists such as Kazuo Nishimura, Makoto Yano, Ryuzo Sato, and Koichi Hamada. This broad range of contributors reflects Koji Shimomura’s many connections as well as the respect he earned in the economic profession. This volume offers the reader a rare opportunity to learn the views of so many renowned economists from different schools of thought.
Download or read book Economic Crisis in Europe written by Paul van den Noord and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The European economy is emerging from its deepest recession since the 1930s. This volume, which brings together economic analysis from the European Commission services, explains how swift policy response avoided a financial meltdown. Europe also needs an improved co-ordinated crisis-management framework to help it respond to any similar situations that may arise in the future. Economic Crisis in Europe is a much-anticipated volume which shows that the beginnings of such a crisis-management framework are emerging, building on existing institutions and legislation and complemented by new initiatives.
Download or read book Critical Essays on the Privatisation Experience written by Philip Arestis and published by Palgrave MacMillan. This book was released on 2009 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: An addition to the 'International Papers in Political Economy Series', this edited work offers new developments in economic policy and theory. The experiences of privatisation and private finance initiatives are looked at in detail.
