The following links lead to the full text from the respective local libraries:
Alternatively, you can try to access the desired document yourself via your local library catalog.
If you have access problems, please contact us.
14 results
Sort by:
In: ECB Working Paper No. 1207
SSRN
Working paper
In: ECB Working Paper No. 1048
SSRN
SSRN
In this paper we argue that, for a group of converging economies of the European Union, participation in the euro area has been associated with easier access to financing by domestic economic agents. Easier access to financing was a significant impulse leading to a sharp increase in households' expenditures and a corresponding fall in the savings ratio. Increased expenditure was associated with current account deficits, a sharp fall in the net foreign asset position and an increase in the households' indebtedness. At the same time there was a sizeable increase in the real exchange rate. In this paper, we show that it is possible to obtain all these qualitative features of adjustment using a simple analytical model of intertemporal equilibrium. Specifically, we consider a simple endowment economy with traded and non-traded goods populated by Blanchard-Yaari households. We also argue that the consideration of external habit formation improves the model's ability to mimic short to medium term adjustment dynamics while, at the same time, improving the plausibility of steady state effects.
BASE
SSRN
In: Scottish Journal of Political Economy, Volume 63, Issue 5, p. 427-442
SSRN
In: Scottish journal of political economy: the journal of the Scottish Economic Society, Volume 63, Issue 5, p. 427-442
ISSN: 1467-9485
AbstractDespite the modern origins of endogenous growth theory, we argue that the 'Idea for a Universal History with a Cosmopolitan Aim' written by Immanuel Kant in 1784 provides an early and coherent example of such a theory. Kant's endogenous growth mechanism is driven by the inherent rivalry that exists between agents which increases effort and strengthens the accumulation of knowledge, which in turn is carried through generations. In an exercise in 'rational reconstruction', we present a mathematical model of Kant's mechanism. We use the model to contribute to the contemporary policy debate as to whether 'keeping up with the Joneses' leads to excessive effort.
In: Hamburg University, Department Wirtschaft und Politik, Macroeconomics and Finance Series Discussion Paper 3/2014
SSRN
Working paper
In: Edward Elgar E-Book Archive
This book provides a description of the main macroeconomic models used by the European Central Bank and the euro area national central banks (Eurosystem). These models are used to help prepare economic projections and scenario analysis for individual countries and the euro area as a whole
In: ECB Occasional Paper No. 2024/344
SSRN