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Working paper series the phillips curve and long-term unemployment

Working paper series the phillips curve and long-term unemployment

Working paper series the phillips curve and long-term unemployment

... Evolution and studies of unemployment inthe OECD 92.1 Studies on long-term unemployment 113 Econometric model: the Phillips curve andthe NAIRU 123.1 Unemployment duration version ofthe Phillips curve ... than the newly unemployed. This paper investigates the im-portance of the second of these issues for the short-run trade-off between inflation andunemployment implied by the Phillips Curve and the ... both thestandard and the modified models. For each of the specifications, the coefficient on theunemployment gap and standard errors are reported. Additionally, for the duration model ,the value of the...
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WORKING PAPER SERIES NO. 398 / OCTOBER 2004: MERGERS AND ACQUISITIONS AND BANK PERFORMANCE IN EUROPE THE ROLE OF STRATEGIC SIMILARITIES potx

WORKING PAPER SERIES NO. 398 / OCTOBER 2004: MERGERS AND ACQUISITIONS AND BANK PERFORMANCE IN EUROPE THE ROLE OF STRATEGIC SIMILARITIES potx

... (2002).12ECB Working Paper Series No. 398October 2004(where SIni is the similarity index for the nth variable for the ith merger, and XBni and XTniare the scores of the target (Tn) and the ... RSIZE and !ROE is anticipated: the larger the target compared to the bidders (in other words, the higher the RSIZE ratio) the better is expected to be afirm’s performance. The level of the bidder’s ... their earnings and loan strategies. In other words, fordomestic operations, the more different the bidder’s type of business compared to the target, the worse the post-merger performance. The...
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Working PaPer SerieS no 1150 / January 2010: Do bank loanS anD creDit StanDarDS have an effect on outPut? a Panel aPProach for the euro area doc

Working PaPer SerieS no 1150 / January 2010: Do bank loanS anD creDit StanDarDS have an effect on outPut? a Panel aPProach for the euro area doc

... Belgium, Finland, France, Germany, Greece, Ireland, Italy, the Netherlands, Portugal and Spain; in the second regression, the countries included are:France, Germany, Italy, the Netherlands, and Spain. ... between GDP and loan growth, on the one hand, and GPD growth and changes in credit standards, on the other hand.Results, which are reported in Table 3, panels A and B, suggest a signi…cant and positive ... frequency and cover the period 1999 Q1 to 2008 Q1. The countries included in the analysis are: Austria, Belgium, Finland, France, Germany, Greece,Ireland, Italy, the Netherlands, Portugal and Spain.Panel...
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Working PaPer SerieS no 1160 / FeBrUarY 2010: evidence For SUrveY maTTerS The eUro area Bank lending emPirical crediT and oUTPUT groWTh pptx

Working PaPer SerieS no 1160 / FeBrUarY 2010: evidence For SUrveY maTTerS The eUro area Bank lending emPirical crediT and oUTPUT groWTh pptx

... (Davis and Fagan, 1997) and therefore loan growth. The term spread, in this paper defined as the quarterly average of the daily spread between the ten-year government bond yield and the three-month ... models, the lending culture of the bank, the seniority and experience of loan officers, the banks’ hierarchy of decision-making, and so on. They thus include price and non-price terms and conditions ... standards is the net percentage of banks in the euro area which have reported to have tightened their credit standards over the past three months. Demand is the net percentage of banks in the...
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WORKING PAPER SERIES NO 1376 / SEPTEMBER 2011: THE PRICE OF LIQUIDITY THE EFFECTS OF MARKET CONDITIONS AND BANK CHARACTERISTICS pptx

WORKING PAPER SERIES NO 1376 / SEPTEMBER 2011: THE PRICE OF LIQUIDITY THE EFFECTS OF MARKET CONDITIONS AND BANK CHARACTERISTICS pptx

... foreign banks, they are 0.69 bps and −0.18 bps; forLandesbanks, they are 1.48 bps and 0.53 bps, and for cooperative central banks, theyare 2.82 bps and 0.51 bps. Thus Landesbanks are the best performers, ... cooperatives,they are 3.47 bps and −0.18 bps; for foreign banks, they are 2.84 bps and −0.15 bps; forLandesbanks, they are 2.83 bps and 0.50 bps; and for cooperative central banks, they are4.27 bps and ... Bank (ECB). The views expressed are those of the authors and do not necessarily reflect those of the ECB. WORKING PAPER SERIES NO 1376 / SEPTEMBER 2011 THE PRICE OF LIQUIDITY THE EFFECTS OF...
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WORKING PAPER SERIES NO. 518 / SEPTEMBER 2005: TERM STRUCTURE AND THE SLUGGISHNESS OF RETAIL BANK INTEREST RATES IN EURO AREA COUNTRIES docx

WORKING PAPER SERIES NO. 518 / SEPTEMBER 2005: TERM STRUCTURE AND THE SLUGGISHNESS OF RETAIL BANK INTEREST RATES IN EURO AREA COUNTRIES docx

... Italy and Portugal and to some extent Ireland. 17ECB Working Paper Series No. 518September 2005 Furthermore, this adjustment was affected upwards in some cases and downwards for others. And ... except Luxembourg and Greece, and the euro area, and the associated MRS and MRL. One should note that from January 1999, the MRS is the three-month EURIBOR for all countries. All series have a monthly ... BB and CC refer to the parameters with the same notation in equation [6'], MMR and BR to the coefficients alpha and beta in [6], and ECC to the error correction coefficient rho in [6]. The...
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WORKING PAPER SERIES NO. 303 / FEBRUARY 2004: FISCAL POLICY EVENTS AND INTEREST RATE SWAP SPREADS: EVIDENCE FROM THE EU pdf

WORKING PAPER SERIES NO. 303 / FEBRUARY 2004: FISCAL POLICY EVENTS AND INTEREST RATE SWAP SPREADS: EVIDENCE FROM THE EU pdf

... yield swapFurthermore, the changes in the yields and in the swap spreads for both Portugal and Germany, were not directly related to the change in the yield and in the swap spreadin the leading ... and the renewed strengthening of the Pact inNovember to the stability of inflation expectations. But the comparison with the implied break-even inflation rate in the US and the UK reveals, the ... the SGP and as the implementation process proceeded, a debate emerged on the implementation of the Pact and the criteria defined therein. The public debate and the implementation of the surveillance...
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WORKING PAPER SERIES NO. 518 / SEPTEMBER 2005: TERM STRUCTURE AND THE SLUGGISHNESS OF RETAIL BANK INTEREST RATES IN EURO AREA COUNTRIES pptx

WORKING PAPER SERIES NO. 518 / SEPTEMBER 2005: TERM STRUCTURE AND THE SLUGGISHNESS OF RETAIL BANK INTEREST RATES IN EURO AREA COUNTRIES pptx

... Italy and Portugal and to some extent Ireland. 17ECB Working Paper Series No. 518September 2005 Furthermore, this adjustment was affected upwards in some cases and downwards for others. And ... except Luxembourg and Greece, and the euro area, and the associated MRS and MRL. One should note that from January 1999, the MRS is the three-month EURIBOR for all countries. All series have a monthly ... BB and CC refer to the parameters with the same notation in equation [6'], MMR and BR to the coefficients alpha and beta in [6], and ECC to the error correction coefficient rho in [6]. The...
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WORKING PAPER SERIES NO. 546 / NOVEMBER 2005: THE NATURAL REAL INTEREST RATE AND THE OUTPUT GAP IN THE EURO AREA A JOINT ESTIMATION doc

WORKING PAPER SERIES NO. 546 / NOVEMBER 2005: THE NATURAL REAL INTEREST RATE AND THE OUTPUT GAP IN THE EURO AREA A JOINT ESTIMATION doc

... c.27ECB Working Paper Series No. 546November 200528ECB Working Paper Series No. 546November 2005European Central Bank working paper series For a complete list of Working Papers published by the ... estimates, and the uncertaint ysurroundin g the estima tes, are fairly similar to those reported b y LW o n U S data.AsregardstheIScurve,thesumofthecoefficients of the autoregressive componen ts of the ... y∗t, the output gap ˜yt, the actual and the natural real rate an d the real rate gap (rt,r∗t and ˜rt) and i nflation πt. A notable featureof the reported statistics is that the correlation...
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