IDEAS home Printed from https://ideas.repec.org/p/zbw/ifwkdp/326.html

Euroland: New conditions for economic policy

Author

Listed:
  • Döpke, Jörg
  • Gern, Klaus-Jürgen
  • Gottschalk, Jan
  • Langfeldt, Enno
  • Scheide, Joachim
  • Schlie, Markus
  • Strauß, Hubert

Abstract

The cyclical situation at the beginning of the European Monetary Union (EMU) is favorable: The upswing in Euroland has firmed, unemployment is going down, and inflation is low. However, economic growth outside the new currency area has weakened significantly during 1998, and fears are mounting that the crises in various regions of the world economy could endanger the current expansion in Euroland. Against this background, the significance of external conditions for the business cycle in Euroland — as well as the regional structure of exports — is analyzed. An important issue for an adequate design of economic policy is to what extent capacities in Euroland are currently utilized and whether cyclical unemployment is still significant. In addition, it is important to know whether the business cycles in the individual countries converge or not. In light of the findings from these analyses, the course of monetary, fiscal, and wage policy is evaluated in order to assess the outlook for Euroland until the end of 1999.

Suggested Citation

  • Döpke, Jörg & Gern, Klaus-Jürgen & Gottschalk, Jan & Langfeldt, Enno & Scheide, Joachim & Schlie, Markus & Strauß, Hubert, 1998. "Euroland: New conditions for economic policy," Kiel Discussion Papers 326, Kiel Institute for the World Economy (IfW Kiel).
    • Handle: RePEc:zbw:ifwkdp:326
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/1032/1/249963701.PDF
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Lapp, Susanne & Scheide, Joachim & Solveen, Ralph, 1995. "Determinants of exports in the G7-countries," Kiel Working Papers 707, Kiel Institute for the World Economy.
    2. Klaus-Jürgen Gern, 2002. "Recent Developments in Old Age Pension Systems: An International Overview," NBER Chapters, in: Social Security Pension Reform in Europe, pages 439-478, National Bureau of Economic Research, Inc.
    3. Siebert, Horst, 1997. "Labor market rigidities and unemployment in Europe," Kiel Working Papers 787, Kiel Institute for the World Economy.
    4. Marianne Baxter & Robert G. King, 1999. "Measuring Business Cycles: Approximate Band-Pass Filters For Economic Time Series," The Review of Economics and Statistics, MIT Press, vol. 81(4), pages 575-593, November.
    5. Browne, F.X. & Fagan, G. & Henry, J., 1997. "Money Demand in EU Countries : A Survey," Papers 7, European Monetary Institute.
    6. Scheide, Joachim & Solveen, Ralph, 1997. "Before EMU starts: economic policy stimulates recovery in Europe," Kiel Discussion Papers 294, Kiel Institute for the World Economy (IfW Kiel).
    7. Boss, Alfred & Döpke, Jörg & Fischer, Malte & Langfeldt, Enno & Schatz, Klaus-Werner & Scheide, Joachim, 1997. "Bundesrepublik Deutschland: Exportboom treibt Konjunktur," Open Access Publications from Kiel Institute for the World Economy 1727, Kiel Institute for the World Economy (IfW Kiel).
    8. Dohse, Dirk & Krieger-Boden, Christiane & Siebert, Horst, 1998. "Währungsunion und Arbeitsmarkt: Auftakt zu unabdingbaren Reformen," Open Access Publications from Kiel Institute for the World Economy 997, Kiel Institute for the World Economy (IfW Kiel).
    9. Douglas Staiger & James H. Stock & Mark W. Watson, 1997. "The NAIRU, Unemployment and Monetary Policy," Journal of Economic Perspectives, American Economic Association, vol. 11(1), pages 33-49, Winter.
    10. Horst Siebert, 1997. "Labor Market Rigidities: At the Root of Unemployment in Europe," Journal of Economic Perspectives, American Economic Association, vol. 11(3), pages 37-54, Summer.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Buch, Claudia M. & Döpke, Jörg, 1999. "Real and Financial Integration in Europe - Evidence for the Accession States and for the Pre-Ins," Kiel Working Papers 917, Kiel Institute for the World Economy.
    2. Strauß, Hubert, 2000. "Eingleichungsmodelle zur Prognose des deutschen Außenhandels," Kiel Working Papers 987, Kiel Institute for the World Economy.
    3. Döpke, Jörg, 1998. "Stylized facts of Euroland's business cycle," Kiel Working Papers 887, Kiel Institute for the World Economy.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Laurence Ball & Nicolás Roux & Marc Hofstetter, 2013. "Unemployment in Latin America and the Caribbean," Open Economies Review, Springer, vol. 24(3), pages 397-424, July.
    2. Bozani, Vasiliki & Drydakis, Nick, 2011. "Studying the NAIRU and its Implications," IZA Discussion Papers 6079, Institute of Labor Economics (IZA).
    3. Ronald Schettkat & Rongrong Sun, 2009. "Monetary policy and European unemployment," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 25(1), pages 94-108, Spring.
    4. Linzert, Tobias, 2005. "The Unemployment Inflation Trade-Off in the Euro Area," IZA Discussion Papers 1699, Institute of Labor Economics (IZA).
    5. Klodt, Henning, 1997. "The transition to the service society: prospects for growth, productivity and employment," Kiel Working Papers 839, Kiel Institute for the World Economy.
    6. Siebert, Horst, 2000. "The Euro: The issues for the future," Kiel Discussion Papers 361, Kiel Institute for the World Economy (IfW Kiel).
    7. Wolfgang Pollan, 2012. "Incomes Policies, Expectations and the NAIRU," WIFO Working Papers 433, WIFO.
    8. Gern, Klaus-Jürgen & Scheide, Joachim & Schlie, Markus, 1997. "Upswing in Europe gains momentum, but unemployment remains high," Kiel Discussion Papers 306, Kiel Institute for the World Economy (IfW Kiel).
    9. Borja Jalón & Simón Sosvilla-Rivero & José A. Herce, 2017. "Countercyclical Labor Productivity: The Spanish Anomaly," IREA Working Papers 201712, University of Barcelona, Research Institute of Applied Economics, revised Jun 2017.
    10. Döpke, Jörg, 2001. "The "Employment Intensity" of Growth in Europe," Kiel Working Papers 1021, Kiel Institute for the World Economy.
    11. Schimmelpfennig, Axel, 1998. "The celtic tiger faces the factor price frontier: Labour market adjustment in Ireland," Kiel Working Papers 855, Kiel Institute for the World Economy.
    12. Kemmerling, Achim & Bruttel, Oliver, 2005. "New politics in German labour market policy? The implications of the recent Hartz reforms for the German welfare state," Discussion Papers, Research Unit: Labor Market Policy and Employment SP I 2005-101, WZB Berlin Social Science Center.
    13. Laurence M. Ball, 2009. "Hysteresis in Unemployment: Old and New Evidence," NBER Working Papers 14818, National Bureau of Economic Research, Inc.
    14. Horst Feldmann, 2013. "Technological unemployment in industrial countries," Journal of Evolutionary Economics, Springer, vol. 23(5), pages 1099-1126, November.
    15. repec:spo:wpmain:info:hdl:2441/6761 is not listed on IDEAS
    16. Mesonnier, Jean-Stephane & Renne, Jean-Paul, 2007. "A time-varying "natural" rate of interest for the euro area," European Economic Review, Elsevier, vol. 51(7), pages 1768-1784, October.
    17. Heimberger, Philipp & Kapeller, Jakob & Schütz, Bernhard, 2017. "The NAIRU determinants: What’s structural about unemployment in Europe?," Journal of Policy Modeling, Elsevier, vol. 39(5), pages 883-908.
    18. Magnus Henrekson & Jesper Roine, 2007. "Promoting Entrepreneurship in the Welfare State," Chapters, in: David B. Audretsch & Isabel Grilo & A. Roy Thurik (ed.), Handbook of Research on Entrepreneurship Policy, chapter 5, Edward Elgar Publishing.
    19. Puhani, Patrick A., 2001. "Wage rigidities in Western Germany? Microeconometric evidence from the 1990s," ZEW Discussion Papers 01-36, ZEW - Leibniz Centre for European Economic Research.
    20. Hörnig, Lukas, 2023. "Regional employment effects of the Hartz-reforms," Ruhr Economic Papers 1033, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    21. repec:spo:wpecon:info:hdl:2441/6761 is not listed on IDEAS
    22. Neffke, Frank M.H. & Otto, Anne & Weyh, Antje, 2017. "Inter-industry labor flows," Journal of Economic Behavior & Organization, Elsevier, vol. 142(C), pages 275-292.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zbw:ifwkdp:326. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://edirc.repec.org/data/iwkiede.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.