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JournalISSN: 0340-8744

Empirica 

Springer Science+Business Media
About: Empirica is an academic journal published by Springer Science+Business Media. The journal publishes majorly in the area(s): Public finance & European integration. It has an ISSN identifier of 0340-8744. Over the lifetime, 978 publications have been published receiving 15256 citations.


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Journal ArticleDOI
01 Jun 1999-Empirica
TL;DR: In this paper, the impact of deepening integration between the EU and the CEECs on FDI flows in terms of three key issues: the expected long-term level of FDI in the EU, and source country exports and imports, on the other hand, are complements or substitutes.
Abstract: Recent evidence suggests that regional economic integration provides an important stimulus not only to trade, but also to FDI. In contrast, the available theory on FDI does not yet provide empirically testable propositions on the effects of concurrent trade and investment liberalisation. Moreover, given the limits of simulation models, which rely heavily upon parameter choice, in assessing the impact of such liberalisation, there is a need for empirical analysis to identify the principal features of FDI. This paper uses a ‘gravity model’ approach to assess the impact of the deepening integration between the EU and the CEECs on FDI flows in terms of three key issues. First, we provide systematic estimates of the expected long-term level of FDI in the CEECs. Second, we investigate whether FDI in the CEECs, on the one hand, and source country exports and imports, on the other hand, are complements or substitutes. Finally, we enquire whether an increase in the attractiveness of the CEECs to foreign investors has affected the magnitude of FDI going to other European countries.

287 citations

Journal ArticleDOI
01 Nov 2010-Empirica
TL;DR: In this paper, a stylised framework of fiscal policy determination that considers both structural targets and cyclical factors is presented, with significant cyclical asymmetry in the behaviour of fiscal variables in a sample of fourteen EU countries over 1970-2007, with budgetary balances deteriorating in contractions without correspondingly improving in expansions.
Abstract: In this paper we present a stylised framework of fiscal policy determination that considers both structural targets and cyclical factors. We find significant cyclical asymmetry in the behaviour of fiscal variables in a sample of fourteen EU countries over 1970–2007, with budgetary balances (both overall and primary) deteriorating in contractions without correspondingly improving in expansions. Analysis of budget components reveals that cyclical asymmetry comes from expenditure. We find no evidence that fiscal rules introduced in 1992 with the Treaty of Maastricht affected the cyclical behaviour of fiscal variables. Numerical simulations show that cyclical asymmetry inflated average deficit levels, contributing significantly to debt accumulation.

284 citations

Journal ArticleDOI
21 Jun 2008-Empirica
TL;DR: In this paper, the authors investigate both the impact of insurance investment and premiums on GDP growth in Europe and find a positive impact of life insurance on GDP in the EU-15 countries, Switzerland, Norway and Iceland.
Abstract: The role of insurance companies, although growing in importance in financial intermediation, has received less attention than bank and stock markets and if so, mainly as a provider of risk transfer in single country or very heterogeneous samples. We investigate both the impact of insurance investment and premiums on GDP growth in Europe. We conduct a cross-country panel data analysis from 1992 to 2005 for 29 European countries. We find a positive impact of life insurance on GDP growth in the EU-15 countries, Switzerland, Norway and Iceland. For the New EU Member States from Central and Eastern Europe, we find a larger impact for liability insurance. Furthermore our findings emphasise the impact of the real interest rate and the level of economic development on the insurance-growth nexus. We argue that the insurance sector needs to be paid more attention in financial sector analysis and macroeconomic policy.

265 citations

Journal ArticleDOI
Stefano Federico1
01 Feb 2010-Empirica
TL;DR: In this paper, the authors analyze the location (at home or abroad) and the mode of organization (outsourcing versus integration) of intermediate inputs production, using data on a sample of Italian manufacturing companies and focusing on the role of firm heterogeneity.
Abstract: This paper analyzes the location (at home or abroad) and the mode of organization (outsourcing versus integration) of intermediate inputs production, using data on a sample of Italian manufacturing companies and focusing on the role of firm heterogeneity. We find evidence of a productivity ordering where foreign integration is chosen by the most productive firms and domestic outsourcing is chosen by the least productive firms; firms with medium-high productivity choose domestic integration, firms with medium-low productivity choose foreign outsourcing.

263 citations

Journal ArticleDOI
01 Feb 1994-Empirica
TL;DR: In this paper, the authors examined the impact that two distinct methods used to measure entry have on identifying the determinants of entry, which can be termed as the ecological approach and the labor market approach.
Abstract: The purpose of this paper is to explicitly examine the impact that two distinct methods used to measure entry have on identifying the determinants of entry. The two approaches can be termed as the ecological approach and the labor market approach. Based on new business startups in 75 regional markets in West Germany, we find that the two different methods for measuring entry yield disparate results. Most strikingly, we find that the ecological approach yields a positive relationship between unemployment and startup activity, while the labor market approach points to a negative impact of unemployment on the startup of new firms. By decomposing these two measures we offer a reconciliation of what appears to be a measurement contradiction.

190 citations

Performance
Metrics
No. of papers from the Journal in previous years
YearPapers
202323
202232
202157
202037
201933
201835