Are the Baltic Countries Ready to Adopt the Euro? A Generalised Purchasing Power Parity Approach

Caporale, Guglielmo Maria; Ciferri, Davide; Girardi, Alessandro

doi:10.2139/ssrn.1187662

SSRN Journal

2008

DOI: 10.2139/ssrn.1187662

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Are the Baltic Countries Ready to Adopt the Euro? A Generalised Purchasing Power Parity Approach

Guglielmo Maria Caporale

Davide Ciferri

Alessandro Girardi

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Cited by 8 publications

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Relative Purchasing Power Parity and the European Monetary Union: Evidence From Eastern Europe

Findreng

2014

E&S

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and Turkey versus Germany over the period January 1999 to May 2013. We investigate the real exchange rate by using a Dickey-Fuller test. Thereafter, we investigate the real exchange rate by allowing for a trend with the origin in the Balassa-Samuelson effect. We also investigate the same pairs using the Engle-Granger cointegration test. However, for the Engle-Granger cointegration test, four of the pairs are excluded as the nominal exchange rate and the price differential are not integrated by the same order. We have investigated the half-life of each pair in each of the three approaches. We find ambiguous results both regarding relative PPP and the speed of adjustment towards the PPP equilibrium. We use the results to investigate whether the Albanian, Bulgarian, Croatian, FYR Macedonian, Romanian and Turkish economies are synchronized with the German economy and if they are ready to enter the European Monetary Union.

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Relative Purchasing Power Parity and the European Monetary Union: Evidence From Eastern Europe

Findreng

2014

E&S

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The information content of KOF indicators on Swiss current account data revisions

Jacobs¹,

Sturm²

2009

OECD Journal: Journal of Business Cycle Measurement and Analysis

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This paper analyses revisions of Swiss current account data, taking into account the actual data revision process and the implied types of revisions. In addition we investigate whether the first release of current account data can be improved upon by the use of survey results as gathered by the KOF Swiss Economic Institute, ETH Zurich. An answer in the affirmative indicates that it is possible to improve first releases and thereby enhance the current assessment of the Swiss economy.JEL classification: C22, C53, C82

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(Post-) Materialist Attitudes and the Mix of Capital and Labour Taxation

König

Wagener

2008

SSRN Journal

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Social values shape policy outcomes. We examine the role of postmaterialism, a widely used concept in the social sciences, for the mix of capital and labour taxation chosen by a society. Following political scientist Inglehart, we define the degree of postmaterialism as the relative importance which individuals or a society as a whole ascribe to non-material values over material things. We incorporate this notion into a simple tax model for a small open economy.We show that a greater emphasis on immaterial values will lower the ratio of capital to labour taxes. Subsequently, we test our theoretical results empirically, using a panel data set comprising 17 OECD countries over the period 1981-2000. Proxies for the degree of postmaterialism are developed from the World Values Surveys. Their impact on the tax mix is highly significant and goes into the theoretically predicted direction.

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Are the Baltic Countries Ready to Adopt the Euro? A Generalised Purchasing Power Parity Approach

Cited by 8 publications

References 26 publications

Relative Purchasing Power Parity and the European Monetary Union: Evidence From Eastern Europe

Relative Purchasing Power Parity and the European Monetary Union: Evidence From Eastern Europe

The information content of KOF indicators on Swiss current account data revisions

(Post-) Materialist Attitudes and the Mix of Capital and Labour Taxation

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