scholarly journals ANALYSIS OF ECONOMIC GROWTH CYCLES’ SYMMETRY IN THE MAIN ECONOMIC SECTORS OF EURO AREA COUNTRIES

Ekonomika ◽  
2012 ◽  
Vol 91 (4) ◽  
Author(s):  
Brigita Šidlauskaitė ◽  
Norbertas Balčiūnas
Keyword(s):  
Economic Growth ◽  
Monetary Policy ◽  
Euro Area ◽  
Value Added ◽  
Growth Cycle ◽  
The European Union ◽  
Economic Sectors ◽  
Growth Cycles ◽  
The Common ◽  
Optimum Currency

Abstract. With the European Union integration growing deeper and Euro area countries having the common currency, excluding possibility of a national monetary policy, academic society has raised a debate on economic stabilization opportunities in individual Euro area countries in case the common monetary policy would prove to be adverse. According to the optimum currency area theory, one of the necessary conditions for the successful functioning of the monetary union is the homogeneity of its countries. The possible economic shocks could have a different impact on the economy of individual Euro area countries in the presence of significant differences in their economy structure. Applying the Hodrick–Prescott method, this study identifies and analyses economic growth cycles in the main economic sectors of the Euro area countries. The results suggest that not all economic growth cycles of the Euro area countries sufficiently correlate with the Euro area average, and one of the predetermining factors is the differences in the economic structure.Key words: asymmetry of economic growth cycle, Euro area, value added structure

scholarly journals Recent Patterns of Economic Alignment in the European (Monetary) Union

2021 ◽  
Vol 14 (8) ◽  
pp. 362
Author(s):  
Agnieszka Gehringer ◽  
Jörg König
Keyword(s):  
European Union ◽  
Monetary Policy ◽  
Business Cycle ◽  
Euro Area ◽  
Debt Crisis ◽  
Policy Instruments ◽  
Economic Indicators ◽  
The European Union ◽  
Business Cycle Synchronization ◽  
The Common

This paper studies the process of business cycle synchronization in the European Union and the euro area. As our baseline methodology we adopt rolling window correlation coefficients of various economic indicators, observed since 2000. Among the indicators, we distinguish between real economic indicators, like the real GDP growth and unemployment, and nominal indicators, like inflation and government budget. Given the direct implication of this kind of analysis for the common monetary policy of the European Central Bank (ECB), special attention is paid to the pattern of business cycle synchronization in the core and peripheral members of the euro area. Our analysis of quarterly data covering the first two decades of the euro area shows that there was a certain synchronization tendency in the first years of the common currency. However, the European debt crisis halted the economic integration within the European Union and—even more so—within the euro area. Since the ECB can to a large extent intervene only with “one-size-fits-all” monetary policy instruments, this renders increasingly cumbersome the conduct of stabilisation policies within the euro area.

scholarly journals The potentials for Political and Economic Development of Kosovo

2013 ◽  
Vol 3 (2) ◽  
pp. 319
Author(s):  
MSc. Ngadhnjim Brovina ◽  
MSc. Adnan Hoxha
Keyword(s):  
Economic Growth ◽  
Natural Resources ◽  
The European Union ◽  
Economic Sectors ◽  
Public Companies ◽  
Association Agreement ◽  
The Public ◽  
Political Status ◽  
Political Economic ◽  
The Eu

It is rather clear that it is mandatory to understand the potentials of growth for any economy to grow. With globalization taking place, countries in general, have intensified their political, economic and social integration. Kosovo, as the youngest state in Europe, is about to transform from a devastated economy into a developing one. It has not yet been able to tap on its natural resources and neither of its potentials for a faster economic growth. Its backbone economic sectors such as agriculture, textile, mining and metal sectors are still on their initial stages of revitalization, while the privatization of the public companies has not met its expectations.Whereas, Kosovo is doing a better job on, as its international presence and subjectivity of its political status (Independence) is strengthened. More and more countries are recognizing it as a sovereign country, while the recent initiation of the Stabilization and Association Agreement with the European Union, Kosovo is undergoing through its structural reforms and alliance with the EU standards and regulations.The future of Kosovo, like of any country, will depend on the way that its human, financial and natural resources are utilized. On this regard, this paper is an attempt to explore the potentials of the economic growth on different political contexts that Kosovo has and is expected to undergo.

scholarly journals Agricultural and food wholesale and retail trade in the intra-community trade

2008 ◽  
Vol 54 (No. 9) ◽  
pp. 419-430
Author(s):  
M. Záboj
Keyword(s):  
Value Added ◽  
Retail Trade ◽  
Bakery Products ◽  
The European Union ◽  
Wealth Creation ◽  
Food Retailing ◽  
Economic Sectors ◽  
Wholesale Trade ◽  
Contemporary Situation ◽  
The Eu

The paper focuses on the evaluation of the contemporary situation of two economic sectors in the frame of the European Union, namely the wholesale and retail of agricultural and food products. For these industries, the structural profile with the indicators of turnover, value added and employment was elaborated. Hereafter the costs, productivity and profitability indicators ranking of the top 5 Member States were compared to the EU-25 averages. After a 3.1% increase in the turnover index in 2000, the evolution of sales for the agricultural wholesaling sector recorded a series of small increases and decreases in the turnover, ranging from – 0.6% in 2002 to 1.5% in 2004. Between 2000 and 2005, the agricultural wholesaling sector generally recorded a slower rate of expansion for turnover than the wholesale trade average. The specialised in-store food retailing sector generated EUR 120.4 billion of turnover in 2003. The wealth creation of the specialised in-store food retailing was valued at EUR 23.8 billion; equivalent to 6.5% of the retail trade and repair total, while this activity employed 1.4 million persons, some 9.0% of the retail trade and repair workforce. Half (49.9%) of the turnover in the specialised in-store food retailing sector in the EU was generated by enterprises selling fruit, vegetables, meat, fish or bakery products.

Parlamentarische Kontrolle durch Vernetzung? Eine kritische Analyse der Rolle der Interparlamentarischen Konferenz für die GASP/GSVP

IG ◽  
2019 ◽  
Vol 42 (2) ◽  
pp. 118-133
Author(s):  
Daniel Schade
Keyword(s):  
Policy Making ◽  
Security Policy ◽  
Value Added ◽  
The European Union ◽  
National Parliaments ◽  
Defence Policy ◽  
Foreign And Security Policy ◽  
The Common ◽  
Set Up ◽  
The Eu

The Interparliamentary Conference for the Common Foreign and Security Policy and the Common Security and Defence Policy (IPC) is a new parliamentary body set up after the Treaty of Lisbon which allows to create interlinkages between parliaments in the European Union (EU). It is part of an ongoing process which aims to challenge the executive dominance in EU policy-making in general and in the EU’s foreign and security policy in particular. Considering its sessions and the experiences of members of parliaments partaking in the Interparliamentary Conference to date, this article analyses its value-added to this overarching goal. The experiences so far suggest that the IPC faces significant practical challenges in contributing to the parliamentary scrutiny of the policy areas concerned despite the fact that the format of interparliamentary gatherings is a significant innovation in its own right. These challenges arise primarily out of a conflict between the European Parliament and national parliaments in the EU, the diversity of national parliamentarism, as well as the differing moti⁠v­a⁠tions and skills of the participating members of parliaments.

scholarly journals Do Euro Area Countries Respond Asymmetrically to the Common Monetary Policy?

2013 ◽  
Author(s):  
Matteo Barigozzi ◽  
Antonio Maria Conti ◽  
Matteo Luciani
Keyword(s):  
Monetary Policy ◽  
Euro Area ◽  
The Common

scholarly journals Unconventional Monetary Policy, Fiscal Side Effects, and Euro Area (Im)balances

2019 ◽  
Vol 18 (1) ◽  
pp. 202-231 ◽  
Author(s):  
Michael Hachula ◽  
Michele Piffer ◽  
Malte Rieth
Keyword(s):  
Monetary Policy ◽  
Interest Rates ◽  
Euro Area ◽  
Public Expenditures ◽  
Inflation Expectations ◽  
Unconventional Monetary Policy ◽  
Vector Autoregressions ◽  
Public And Private ◽  
Consumer Prices ◽  
The Common

Abstract We study the macroeconomic effects of unconventional monetary policy in the euro area using structural vector autoregressions, identified with external instruments. The instruments are based on the common unexpected variation in euro area sovereign yields for different maturities on policy announcement days. We first show that expansionary monetary surprises are effective at lowering public and private interest rates and increasing economic activity, consumer prices, and inflation expectations. We then document that the shocks lead to a rise in primary public expenditures and a widening of internal trade balances.

scholarly journals Guarantee for the value added tax

2020 ◽  
Vol 20 (4) ◽  
pp. 35-52
Author(s):  
Michael Feldek
Keyword(s):  
Value Added ◽  
Case Law ◽  
Legal Order ◽  
The European Union ◽  
Value Added Tax ◽  
Common System ◽  
Court Of Justice ◽  
Council Directive ◽  
The Common ◽  
Descriptive Method

The paper examines legal disputes arising from the questionable implementation of article 205 of the Council Directive 2006/112/EC of 28 November 2006 on the common system of value added tax into the Czech legal order. The main aim of the paper is to find out whether the provisions resulting from that implementation are applicable, and if so under what conditions. Author draws conclusions mainly from case law of the Court of Justice of the European Union and Czech Supreme Administrative Court and uses analysis, synthesis and descriptive method.

scholarly journals Collection Dilemmas and Performance Measures of the Value-Added Tax in Germany and Poland

2018 ◽  
Vol 54 (2) ◽  
pp. 110-121 ◽  
Author(s):  
Małgorzata Magdalena Hybka
Keyword(s):  
European Union ◽  
Union Member ◽  
Continuous Process ◽  
Value Added ◽  
The European Union ◽  
Value Added Tax ◽  
Member States ◽  
The Common ◽  
Negative Side Effects ◽  
European Union Member States

Abstract In the European Union Member States, value-added tax (VAT) is undergoing a continuous process of harmonization, which was initiated in the 1960s by the introduction of the First and Second Council Directives and which resulted in the implementation of the common tax assessment base. Currently, the European Union VAT system faces multiple challenges related in particular to the negative side effects of certain design features and progressing globalization. The main aim of this article is to discuss some dilemmas of the common VAT model. Particular attention is placed on the fiscal consequences of VAT preferences, as well as on the origins, components, and implications of the VAT gap. For the purpose of this analysis, 2 neighboring countries were selected, namely, Germany and Poland. On the basis of the national and Eurostat data, the author calculates the most significant VAT performance indicators and reviews the factors decreasing VAT efficiency in these countries in comparison to other European Union Member States.

scholarly journals Developments of Economic Growth and Employment in Bioeconomy Sectors across the EU

2020 ◽  
Vol 12 (11) ◽  
pp. 4507 ◽  
Author(s):  
Tévécia Ronzon ◽  
Stephan Piotrowski ◽  
Saulius Tamosiunas ◽  
Lara Dammer ◽  
Michael Carus ◽  
...  
Keyword(s):  
Economic Growth ◽  
Labour Productivity ◽  
Value Added ◽  
The European Union ◽  
Business Statistics ◽  
Structural Differences ◽  
Subsequent Calculation ◽  
Output Based Approach ◽  
Over Time ◽  
The Eu

The development of the bioeconomy—or the substitution of fossil-based materials and energy by bio-based solutions—is considered a strategic economic orientation by the European Commission and its Green Deal. This paper presents a methodology to monitor the contribution of the bioeconomy to jobs and growth within the European Union (EU) and its Member States. Classified as an ‘‘output-based’’ approach, the methodology relies on expert estimations of the biomass content of the bio-based materials produced in the EU and the subsequent calculation of ‘‘sectoral’’ bio-based shares by using Eurostat statistics on the production of manufactured goods (prom). Sectoral shares are applied to indicators of employment, and value added is reported in Eurostat–Structural business statistics. This paper updates the methodology and time series presented in 2018. The bioeconomy of the EU (post-Brexit composition) employed around 17.5 million people and generated €614 billion of value added in 2017. The study evidences structural differences between EU national bioeconomies, which become more pronounced over time, especially in terms of the level of apparent labour productivity of national bioeconomies. Finally, this paper describes cases of transition over the 2008–2017 period.

scholarly journals Challenges ahead for the European Union

Competitio ◽  
2005 ◽  
Vol 4 (2) ◽  
pp. 7-12 ◽  
Author(s):  
Alexandre Lamfalussy
Keyword(s):  
European Union ◽  
Monetary Policy ◽  
Euro Area ◽  
Single Market ◽  
Free Movement ◽  
The European Union ◽  
Member States ◽  
The Uk ◽  
Heads Of Government ◽  
The Eu

It is a mild understatement that nowadays the EU is navigating in rough waters. Close to half of the member countries of the Euro area are in breach of their fiscal stability commitment – and some of them very substantially. Quite a few heads of government publicly criticise the ECB’s monetary policy. Germany and France are determined to water down the Bolkenstein directive on the implementation of a genuine single market for services (which amount to about two-thirds of the EU’s GDP), to which, incidentally, no major objections had been raised by the governments of the member states during the drafting stage. There is no agreement on the longer term EU budget. Only Ireland, the UK and Sweden accept the free movement of the residents of the ten countries which became members of the EU in May last year.

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