Institution
Directorate-General for Economic and Financial Affairs
Government•Brussels, Belgium•
About: Directorate-General for Economic and Financial Affairs is a government organization based out in Brussels, Belgium. It is known for research contribution in the topics: Fiscal policy & European union. The organization has 80 authors who have published 145 publications receiving 4262 citations. The organization is also known as: ECFIN & GD ECFIN.
Papers published on a yearly basis
Papers
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01 Jan 19994 citations
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TL;DR: In this paper, the authors attempt at mapping preferences for government provision of stabilisation, which should be understood as action by governments, past and present, that have a stabilising effect on economic activity, at the national level in the EMU on the basis of some indicators of government activity.
Abstract: In this paper, we attempt at mapping preferences for 'government provision of stabilisation' – which should be understood as action by governments, past and present, that have a stabilising effect on economic activity - at the national level in the EMU on the basis of some indicators of government activity We find that the EU Member States exhibit differences as regards 'revealed preferences' for government provision of stabilisation, depending both on 'need' and 'taste' factors In EMU, with price stability as the nominal anchor, monetary policy dominates fiscal policy and architecture of the Stability and Growth Pact secures balanced budgets at the national level If it is the case that there exists a 'preference gap,' in the sense that the monetary authority is forgiving on unemployment but non-forgiving on inflation and that the reverse is true for the fiscal authorities, this may put stress in the system and result in an inefficient overall regime
3 citations
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TL;DR: In this article, the authors apply a simple method to study the relative quality of Chinese versus European products exported in the clothing sector after the end of the Multi-Fiber Arrangement.
Abstract: We apply a simple method to study the relative quality of Chinese versus European products exported in the clothing sector after the end of the Multi-Fiber Arrangement. Based on the model of Foster et al (2008), we interpret the relative change of export prices and quantities sold in narrowly defined product categories as an indicator of quality shifts. Using UN Comtrade data we find that European varieties exported to the US typically sell for a higher price than identical Chinese varieties exported to the US, but this price gap is narrowing. Despite rising prices, Chinese varieties are gaining market share. This opposite movement of relative prices and quantities sold in the same destination market, are a strong indication of China moving up the quality ladder in its clothing exports relative to the EU. While European 'core' products in clothing are stable over time, Chinese exports show strong product dynamics with exit and entry of new 'core' products every year and 'core' products changing rapidly. Both China and the EU export in every product category, resulting in an almost perfect product overlap with almost no products being exported by only one of the two.
3 citations
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TL;DR: In this paper, the authors examine why monetary aggregates of euro area Member States have developed differently since the inception of the euro and derive a money demand equation that incorporates housing wealth and collateral as well as substitution effects on real money holdings.
Abstract: In this paper we examine why monetary aggregates of euro area Member States have developed differently since the inception of the euro. We derive a money demand equation that incorporates housing wealth and collateral as well as substitution effects on real money holdings. Empirically, we show that cross-country differences in real balances are determined not only by income differences, a standard determinant of money demand, but also by house price developments. Higher house prices and higher user costs of housing are both associated with larger money holdings. Country-specific money holdings are also connected with structural features of the housing market.
3 citations
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TL;DR: In this article, the capacity of the EU budget to operate two traditional functions of public finances, namely redistribution and stabilisation, has been evaluated over 16 years (from 2000 to 2015).
Abstract: This paper measures the capacity of the EU budget to operate two traditional functions of public finances: redistribution and stabilisation. It uses a large dataset covering all actual revenues and expenditures of the budget, over 16 years (from 2000 to 2015) in each Member State of the EU. It finds that, for every € 1000 difference in income per capita across the EU, € 9 is offset by lower contributions to the budget and € 3 is offset by higher expenditures by the budget; the overall equalising effect is small and mainly generated by the revenue side, in particular by the national contribution based on GNI and VAT. The budget is not particularly responsive to changing economic conditions: a fall in income per capita of € 1000 determines a reduction of € 8 in the per capita contribution paid to the common budget, while the expenditure side is irresponsive. The analysis also shows that the various corrections mechanisms applied over time to the revenue side of the budget have reduced its redistributive and stabilisation capacity.
3 citations
Authors
Showing all 111 results
Name | H-index | Papers | Citations |
---|---|---|---|
Johan F.M. Swinnen | 70 | 570 | 20039 |
Lars Jonung | 36 | 214 | 4215 |
Guntram B. Wolff | 34 | 224 | 4272 |
Marco Buti | 33 | 98 | 3852 |
Alessandro Turrini | 31 | 129 | 3000 |
Jan in 't Veld | 28 | 91 | 3074 |
Paul van den Noord | 28 | 70 | 3654 |
Salvador Barrios | 26 | 84 | 4166 |
Heiko Hesse | 24 | 56 | 3232 |
Isabel Grilo | 24 | 66 | 2967 |
Gilles Mourre | 21 | 76 | 1300 |
Bořek Vašíček | 20 | 57 | 1318 |
Alessandro Girardi | 19 | 116 | 1212 |
Ivo Maes | 19 | 87 | 1349 |
Ralph Setzer | 16 | 46 | 1162 |