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Are Europe's Social Security Finances Compatible with EMU?

Are Europe's Social Security Finances Compatible with EMU? »

Source: Are Europe's Social Security Finances Compatible with EMU?

Volume/Issue: 1997/3

Series: IMF Policy Discussion Papers

Author(s): George Kopits

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1997

ISBN: 9781451974034

Keywords: European Economic and Monetary Union, Europe, Social security, unemployment, unemployment benefits, survivors ? pensions, payroll tax

Pursuant to the Treaty of Maastricht, members of the European Union (EU) intend to participate in the Economic and Monetary Union (EMU), in part through convergence toward specified limits on the overall deficit an...

Bank Balance Sheets and the Value of Lending

Bank Balance Sheets and the Value of Lending »

Source: Bank Balance Sheets and the Value of Lending

Volume/Issue: 2017/111

Series: IMF Working Papers

Author(s): Jiaqian Chen , and Giuseppe Vera

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 May 2017

ISBN: 9781475599053

Keywords: Europe, United Kingdom, Bank balance sheets, loan announcement effect, bank monitoring, Financial Markets and the Macroeconomy

We study 1,400 UK syndicated loans, together with the financial history of the lead bank and the borrowing firm. We interpret abnormal equity returns around loan announcements as the value of the lending relationsh...

Brexit Referendum and Business Investment in the UK

Brexit Referendum and Business Investment in the UK »

Source: Brexit Referendum and Business Investment in the UK

Volume/Issue: 2018/247

Series: IMF Working Papers

Author(s): Lucyna Gornicka

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 November 2018

ISBN: 9781484382011

Keywords: Europe, United Kingdom, Brexit referendum, firm investment, uncertainty, trade costs, General, Country and Industry Studies of Trade

In this paper I apply firm-level analysis to examine how the Brexit process has affected business investment in the UK. An interaction term of potential trade costs after exiting the EU and a measure of firms' part...

Countercyclical Fiscal Policy and Gender Employment: Evidence from the G-7 Countries1

Countercyclical Fiscal Policy and Gender Employment: Evidence from the G-7 Countries1 »

Source: Countercyclical Fiscal Policy and Gender Employment: Evidence from the G-7 Countries

Volume/Issue: 2019/4

Series: IMF Working Papers

Author(s): Bernardin Akitoby , Jiro Honda , and Hiroaki Miyamoto

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 January 2019

ISBN: 9781484390054

Keywords: Italy, Japan, Germany, Europe, Canada, Asia and Pacific, France, United Kingdom, United States, Western Hemisphere

Would countercyclical fiscal policy during recessions improve or worsen the gender employment gap? We give an answer to this question by exploring the state-dependent impact of fiscal spending shocks on employment...

Revisiting the Economic Case for Fiscal Union in the Euro Area

Revisiting the Economic Case for Fiscal Union in the Euro Area »

Volume/Issue: 2018/3

Series: Departmental Papers / Policy Papers

Author(s): Helge Berger , Giovanni Dell'Ariccia , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 February 2018

DOI: http://dx.doi.org/10.5089/9781484340424.087

ISBN: 9781484340424

Keywords: Sweden, Switzerland, United Kingdom, Monetary unions, Spain, Italy, Fiscal policy, France, Germany, Greece

The paper makes an analytical contribution to the revived discussion about the euro area's institutional setup. After significant progress during the euro crisis, the drive to complete Europe's Economic and Monetar...

The Design of EMU

The Design of EMU »

Source: The Design of EMU

Volume/Issue: 1997/99

Series: IMF Working Papers

Author(s): David Begg

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1997

ISBN: 9781451852233

Keywords: European Monetary Union, credibility, asymmetric shocks, inflation, monetary policy, central bank, price stability, monetary union

Pursuit of price stability may, but need not, exacerbate output fluctuations. This paper discusses the monetary strategy of the European Central Bank, the intermediate targets that this should entail, and implicati...

The ECB'S Inflation Objective

The ECB'S Inflation Objective »

Source: The ECB'S Inflation Objective

Volume/Issue: 2003/91

Series: IMF Working Papers

Author(s): Mads Kieler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2003

ISBN: 9781451851533

Keywords: European Central Bank, inflation rates, inflation target, ECB,

The ECB's objective of medium-term inflation below 2 percent has been portrayed by critics as ambiguous, asymmetric, and excessively stringent. This paper attempts a comprehensive evaluation of the trade-offs for t...

Effectiveness of Fiscal Incentives for R&D

Effectiveness of Fiscal Incentives for R&D »

Source: Effectiveness of Fiscal Incentives for R&D : Quasi-Experimental Evidence

Volume/Issue: 2017/84

Series: IMF Working Papers

Author(s): Irem Guceri , and Li Liu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 March 2017

ISBN: 9781475591170

Keywords: Europe, United Kingdom, Tax incentives; corporation tax returns; quasi-experiment, Tax incentives, corporation tax returns, quasi-experiment, Business Taxes and Subsidies, Innovation and Invention: Processes and Incentives

With growing academic and policy interest in research and development (R&D) tax incentives, the question about their effectiveness has become ever more relevant. In the absence of an exogenous policy reform, the si...

The Effects of European Economic Integration on the Profitability of Industries

The Effects of European Economic Integration on the Profitability of Industries »

Source: The Effects of European Economic Integration on the Profitability of Industries

Volume/Issue: 1998/85

Series: IMF Working Papers

Author(s): Dalia Hakura

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1998

ISBN: 9781451850727

Keywords: Trade Discipline, European Economic Integration, Market Structure, Markups, import penetration, competition, import competition, world price, imperfect competition

This paper examines the effects of intensified international competition on industry profits in six European Union (EU) countries. The paper uses two methods to estimate industry profits. The traditional method use...

European Policy Convergence and the EMS

European Policy Convergence and the EMS »

Source: European Policy Convergence and the EMS

Volume/Issue: 1990/104

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1990

ISBN: 9781451947809

Keywords: exchange rates, exchange rate, money supply, monetary system, european monetary system

In this paper we analyze the degree of policy convergence of EMS member countries relative to that of some non-EMS countries. Interestingly, we find convergence for the nominal and real exchange rates and money sup...