Search results for "macroeconomics"
showing 10 items of 477 documents
Do market regulations reduce investment? Evidence from European regions
2016
ABSTRACTDo market regulations reduce investment? Evidence from European regions. Regional Studies. This paper investigates the impact of market imperfections on non-farm business sector investment in European regions for 1995–2007, using dynamic panel and generalized method of moments (GMM) methods for estimating a Euler equation. The results show that barriers to entrepreneurship and to trade and investment decrease the productivity of capital, which has negative effects on European regions’ investment. Corruption leads to increased operational costs, creates uncertainty and thereby deters investment. Greater labour market regulation also means higher labour costs. Hiring and firing regula…
Financialisation, regional economic development and the coronavirus crisis: a time for spatial monetary policy?
2021
Abstract This paper argues that ‘spatial monetary policy’ may be needed to achieve more territorially balanced economic development. Central banks have been key in fostering financialised economies while also preventing their collapse in times of crisis—a role further strengthened by the coronavirus pandemic. Central banks have thus become the most powerful economic policy-making institutions, just when spatial disparities are likely to deepen. In the context of crisis-ridden financialised capitalism, regional development policies should consider the spatial implications of central bank interventions and recognise monetary policy as a key element of spatial policy. Simultaneously, monetary …
Productivity, Ownership & National Chains: Evidence from the British Retail Sector
2008
This paper investigates whether foreign-owned retailers operating in the British retail sector perform differently than domestic-owned firms with diverse national presence. Using simultaneous quantile regression techniques we test for any sign of performance gaps. The findings suggest that foreign ownership turns out to be a weak explanatory factor of differences in performance across retailers. Only when firms in the upper quantiles of TFP are compared, the role of foreign ownership gains statistical significance, although with exceptions. On the other hand, firms able to expand their infrastructure across Great Britain possess a productivity advantage over more local retailers. This impli…
Systems-dynamic analysis of employment and inequality impacts of low-carbon investments
2016
Abstract This paper provides a macroeconomic framework to evaluate the social and economic consequences generated by a shift of investment to low-carbon options. We introduce into a standard growth framework a modified Lotka–Volterra model for wage and employment determination to address both the long-run dynamics of the economic system in terms of carbon emission and GDP growth and the short-term macroeconomic fluctuations in terms of unemployment and inequality. We use this framework to compare the results of different combinations of three strategies for carbon emissions reductions: improvement in energy efficiency, expansion of the renewable energy sector, and the direct reduction in ca…
The Unemployment Issue
2012
This timely book uses cutting-edge research to analyse the fundamental causes of economic and financial crises, and illustrates the macroeconomic foundations required for future economic policymaking in order to avoid these crises.
Product and process innovation and total factor productivity: Evidence for manufacturing in four Latin American countries
2017
The literature on firm productivity recognizes the important role played by firm innovation activities on firm productivity in developed countries. However, the literature for developing and emerging economies is scarce and far from conclusive. The aim of this paper is to study the innovation–productivity link (distinguishing between process and product innovations) for manufacturing at the firm level for four Latin American countries (two classified as upper-middle income countries by the World Bank—Argentina and Mexico—and two as lower-middle income—Colombia and Peru). We aim testing whether the level of development is a mediating factor in the innovation–productivity link. The data used …
Investments in Latvia
2021
The effective attraction of investments to the national economy is a key factor, which provides favourable conditions to perform structural changes in the national economy, regional development as well as promotes technical progress. Therefore, investments in the public and the private sectors conduce development of the national economy and provide conditions to increase the overall competitiveness of a country. The purpose of research is to evaluate investment processes in Latvia before and after the global financial crisis, revealing investment-related problems. Also, to calculate the level of the desired investment, which would ensure the Latvia’s average GDP growth of 5% per year, accor…
Leveraging and Deleveraging: Pluses and Minuses
2013
Abstract As in physics, leverage is an amplifier. In business, the leverage is amplifying the losses or the gains. In good times, leverage is good, it is busting the gains, it supports economic growth. Companies and governments are using leverage at large scale. In bad times, it is busting the losses. Companies and governments will have to deleverage. This paper aims to present in brief the concepts of leveraging and deleveraging, to explain why companies, banks and governments are using the leverage, and what are the consequences of using it? The high degree of leverage is one cause of a financial crisis and therefore deleveraging is usually following a financial crisis. We will address th…
Accounting Analysis of Economic Policy of Spain (2012)
2014
The analysis of economic policy is made through a new methodology using the information provided by businesses to the Bank of Spain. The financial statements are the result of economic and financial transactions in a year and show a behavior that is likely to be measured by applying the Edgeworth’s box for analysis. This means that it is possible to measure the response of firms against market disruptions through an accounting interpretation of the information contained in the financial statements. The indicators obtained through this methodology measure a position taken in the Edgeworth’s box. Consequently, the observations obtained are random and therefore may explain the evolution of the…
EUROscepticism and Monetary Security in Europe
2018
By deliberating on the correlations between the monetary security and the EUROsceptic views of the European citizenry and elites, this chapter addresses the problem of supranational monetary policy and the consequences it has for the economic security of the EU and its constitutive member states. The analysis starts with the introduction into the concept of EUROscepticism and its relations with the classical Euroscepticism. Then the second key term of the chapter is defined, which is the monetary security—nested in the general understanding of the economic security. Here, not only the author provides his own understanding of the monetary security, but also discusses its main levels, dimensi…