Konferenzbeitrag
Real Convergence, Capital Flows and Competitiveness in Central and Eastern Europe
The paper scrutinizes the role of wages and capital flows for competitiveness in the new EU member states in the context of real convergence. For this purpose it extends the seminal Balassa-Samuelson model by international capital markets. The augmented Balassa-Samuelson model is linked to the monetary overinvestment theories of Wicksell and Hayek in order to trace cyclical deviations of real exchange rates from the productivity-driven equilibrium path. Panel estimations for the period from 1993 to 2008 reveal mixed evidence for the role of capital markets for both the economic catch-up process and international competitiveness of the Central and Eastern European countries.
- Sprache
-
Englisch
- Erschienen in
-
Series: Beiträge zur Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie - Session: Capital flows to the EU New Member States ; No. E3-V2
- Klassifikation
-
Wirtschaft
Trade and Labor Market Interactions
Foreign Exchange
Current Account Adjustment; Short-term Capital Movements
- Thema
-
exchange rate regime
wages
Central and Eastern Europe
EMU accession
panel model
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Zemanek, Holger
Belke, Ansgar
Schnabl, Gunther
- Ereignis
-
Veröffentlichung
- (wer)
-
Verein für Socialpolitik
- (wo)
-
Frankfurt a. M.
- (wann)
-
2010
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Konferenzbeitrag
Beteiligte
- Zemanek, Holger
- Belke, Ansgar
- Schnabl, Gunther
- Verein für Socialpolitik
Entstanden
- 2010
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