Title:The Performance of the European Central Bank
Author(s):ARTIS, Michael J.Date:2005Type of Publication:ArticleAbstract:The European Monetary Union has been in operation since 1 January 1999. The paper offers an interim assessment of the operations of the European Central Bank (ECB) during this period. It describes how the ECB defined its ...
Title:Personal Influence: Social context and political competition
Author(s):GALEOTTI, Andrea; MATTOZZI, AndreaDate:2011Type of Publication:ArticleAbstract:This paper studies the effect of social learning on political outcomes in a model of informative campaign advertising. Voters' communication network affects parties' incentives to disclose political information, voters' ...
Title:Policy Mix and Debt Sustainability: Evidence from Fiscal Policy Rules
Author(s):CLAEYS, PeterDate:2006Type of Publication:ArticleAbstract:This paper characterizes rules-based fiscal policy setting for G-3 and large
EMS countries. We set up a simple fiscal policy rule and then infer on the policymakers’
reaction coefficients by testing with GMM. Our results ...
Title:Policy Uncertainty and Investment in Low-Carbon Technology
Author(s):ALBRIZIO, Silvia; COSTA, HéliaDate:2012Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:In the context of an emission trading scheme (ETS), we study how uncertainty over the environmental policy affectsfirms' investment in low-carbon technologies. We develop a three period sequential model that combines the ...
Title:Policymakers' Votes and Predictability of Monetary Policy
Author(s):SIRCHENKO, AndreiDate:2010-01-01Type of Publication:Working PaperSeries/Report no.:University of California San Diego Economics Working Paper SeriesAbstract:The National Bank of Poland does not publish the Monetary Policy Council's voting records before the subsequent policy meeting. Using the real-time data, this paper shows that a prompter release of the voting records could ...
Title:Policymakers’ Votes and Predictability of Monetary Policy
Author(s):SIRCHENKO, AndreiDate:2011Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:The National Bank of Poland does not publish the Monetary Policy Council's voting records before the subsequent policy meeting. Using real-time data, this paper shows that a prompter release of the voting records could ...
Title:Political Instability and Economic Vulnerability
Author(s):BUSSIERE, Matthieu; MULDER, C.Date:2000Type of Publication:ArticleAbstract:This paper analyzes and tests the influence of political instability on economic vulnerability in the context of the 1994 and 1997 crisis episodes. It constructs four political variables that aim at quantifying political ...
Title:Pooling versus Model Selection for Nowcasting with Many Predictors: An Application to German GDP
Author(s):KUZIN, Vladimir; MARCELLINO, Massimiliano; SCHUMACHER, ChristianDate:2009Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:This paper discusses pooling versus model selection for now- and forecasting in the presence of model uncertainty with large, unbalanced datasets. Empirically, unbalanced data is pervasive in economics and typically due ...
Title:Population Aging and Economic Growth: The Effect of Health Expenditure
Author(s):MIZUSHIMA, AtsueDate:2008Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:Rising longevity has led to population aging in developed countries, causing increasing concerns about its economic impact. Specially, the trend of population aging increases health expenditure in developed countries, and ...