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on European Economics |
| By: | Haan, Jakob de; Inklaar, Robert; Jong-a-Pin, Richard (Groningen University) |
| Abstract: | This survey of business cycle synchronization in the European monetary union focuses on two issue: have business cycles become more similar, and, which factors drive business cycle synchronization. We conclude that business cycles in the euro area have gone through periods of both convergence and divergence. Still, there is quite some evidence that during the 1990s business cycle synchronization in the euro area has increased. Higher trade intensity is found to lead to more synchronization, but the point estimates vary widely. The evidence for other factors affecting business cycle synchronization is very mixed. |
| Date: | 2005 |
| URL: | http://d.repec.org/n?u=RePEc:dgr:rugccs:200508&r=eec |
| By: | OECD |
| Abstract: | This paper provides an assessment of the impact of a package of structural reforms in the European Union and the United States on long-run trade and output gains accruing to OECD countries. The package includes reforms that reduce competition-restraining regulations, cut tariff barriers and ease restrictions on foreign direct investment to “best practice” levels in the OECD area. The analysis, which is based on earlier OECD studies, indicates that such reforms could lead to gains in GDP per capita in both transatlantic areas of up to 3 to 3 ½ per cent. Moreover, due to trade linkages, the benefits of reforms in the United States and the European Union would spread to other OECD countries, with an estimated increase in GDP per capita of up to 1½ per cent. As the analysis is confined to a relatively narrow set of policies and abstracts from potential dynamic effects from reform-induced increase in innovation, the overall gains from broad reforms could be significantly higher than reported in the paper. <P>Les bénéfices de la libéralisation des marchés de produits et de la réduction des barrières aux échanges et aux investissements internationaux: Ce document offre une évaluation des réformes globales structurelles en Europe et aux États-Unis sur les échanges et la croissance de long terme dans les pays de l’OCDE. Ces réformes incluent l’ensemble des mesures politiques visant la réduction de la réglementation anti-compétitive, la baisse des barrières tarifaires et des restrictions sur les investissements directs étrangers vers les «meilleures pratiques» observées au sein des pays de l’OCDE. L’analyse, qui s’appuie sur de précédents travaux de l’OCDE, montre que de telles réformes peuvent conduire à une augmentation du PIB par habitant entre 3 et 3 ½ pour cent. De plus, en raison d’effets de transmission via les échanges, le bénéfice des réformes en Europe et aux États-Unis devrait se répandre à l’ensemble des autres pays de l’OCDE conduisant à une augmentation du PIB moyen par habitant de plus de 1 ½ pour cent. Étant donné que l’analyse ne couvre qu’un nombre de mesures spécifiques et exclut les effets dynamiques potentiels de l’innovation, les bénéfices tirés d’un ensemble de reformes beaucoup plus large pourraient bien être plus élevés que ceux reportés dans ce document. |
| Keywords: | international trade, réglementation, regulations, foreign direct investment, investissement direct étranger, commerce international, productivity and growth, productivité et croissance |
| JEL: | F13 F21 K2 O4 |
| Date: | 2005–05–26 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:432-en&r=eec |
| By: | Carlo Favero; Massimiliano Marcellino |
| Abstract: | In this paper we assess the possibility of producing unbiased forecasts for fiscal variables in the euro area by comparing a set of procedures that rely on different information sets and econometric techniques. In particular, we consider ARMA models, VARs, small scale semi-structural models at the national and euro area level, institutional forecasts (OECD), and pooling. Our small scale models are characterized by the joint modelling of fiscal and monetary policy using simple rules, combined with equations for the evolution of all the relevant fundamentals for the Maastricht Treaty and the Stability and Growth Pact. We rank models on the basis of their forecasting performance using the mean square and mean absolute error criteria at different horizons. Overall, simple time series methods and pooling work well and are able to deliver unbiased forecasts, or slightly upward biased forecast for the debt-GDP dynamics. This result is mostly due to the short sample available, the robustness of simple methods to structural breaks, and to the difficulty of modelling the joint behaviour of several variables in a period of substantial institutional and economic changes. A bootstrap experiment highlights that, even when the data are generated using the estimated small scale multi country model, simple time series models can produce more accurate forecasts, due to their parsimonious specification. |
| URL: | http://d.repec.org/n?u=RePEc:igi:igierp:298&r=eec |
| By: | Carmen Díaz-Roldán; Oscar Bajo-Rubio |
| Abstract: | In this paper we analyze the nature of the shocks hitting the EMU member countries over the period 1991-2004, as well as for the two subperiods before and after 1999, i.e., the start of EMU. To this end, we first evaluate the relative importance of symmetric vs. asymmetric shocks, and then extract their temporary component. Our final aim would be assessing the vulnerability of the EMU countries to temporary and asymmetric shocks, which would be the most harmful case for the operation of a monetary union. |
| URL: | http://d.repec.org/n?u=RePEc:fda:fdadef:05-08&r=eec |
| By: | Mihalyne Hajdu; Maria Manno |
| Abstract: | A project aimed at presenting initial results from the implementation of the System of Health Accounts has been carried by the Health Policy Unit at the OECD and experts from thirteen member countries. The results are presented in the form of a comparative study (OECD Health Working Papers No. 16) and a set of OECD Health Technical Papers presenting individual country studies. This volume is the fifth in this series, presenting the Hungarian SHA-based health accounts. L’Unité des politiques de santé de l’OCDE et des experts originaires de treize pays Membres ont mené un projet visant à rendre compte des premiers résultats de la mise en œuvre du Système de comptes de la santé (SCS). Ces résultats se présentent sous la forme d’une étude comparative (document de travail sur la santé n° 16 de l’OCDE) et d’un ensemble de rapports techniques sur la santé contenant des études par pays. Ce volume est le cinquième de la série, il examine les comptes de la santé fondés sur le SCS en Hongrie. |
| JEL: | H51 I10 |
| Date: | 2004–09–22 |
| URL: | http://d.repec.org/n?u=RePEc:oec:elsaae:5-en&r=eec |
| By: | María Luisa García Calatayud; Jorge Relano Toledano |
| Abstract: | A project aimed at presenting initial results from the implementation of the System of Health Accounts has been carried by the Health Policy Unit at the OECD and experts from thirteen member countries. The results are presented in the form of a comparative study (OECD Health Working Papers No. 16) and a set of OECD Health Technical Papers presenting individual country studies. This volume is the eleventh in this series, presenting the Spanish SHA-based health accounts. L’Unité des politiques de santé de l’OCDE et des experts originaires de treize pays Membres ont mené un projet visant à rendre compte des premiers résultats de la mise en œuvre du Système de comptes de la santé (SCS). Ces résultats se présentent sous la forme d’une étude comparative (document de travail sur la santé n° 16 de l’OCDE) et d’un ensemble de rapports techniques sur la santé contenant des études par pays. Ce volume est le onzième de la série, il examine les comptes de la santé fondés sur le SCS en Espagne. |
| JEL: | H51 I10 |
| Date: | 2004–09–14 |
| URL: | http://d.repec.org/n?u=RePEc:oec:elsaae:11-en&r=eec |
| By: | Cor van Mosseveld |
| Abstract: | A project aimed at presenting initial results from the implementation of the System of Health Accounts has been carried by the Health Policy Unit at the OECD and experts from thirteen member countries. The results are presented in the form of a comparative study (OECD Health Working Papers No. 16) and a set of OECD Health Technical Papers presenting individual country studies. This volume is the ninth in this series, presenting the Dutch SHA-based health accounts. L’Unité des politiques de santé de l’OCDE et des experts originaires de treize pays Membres ont mené un projet visant à rendre compte des premiers résultats de la mise en œuvre du Système de comptes de la santé (SCS). Ces résultats se présentent sous la forme d’une étude comparative (document de travail sur la santé n° 16 de l’OCDE) et d’un ensemble de rapports techniques sur la santé contenant des études par pays. Ce volume est le neuvième de la série, il examine les comptes de la santé fondés sur le SCS aux Pays-Bas. |
| JEL: | H51 I10 |
| Date: | 2004–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:oec:elsaae:9-en&r=eec |
| By: | Dorota Kawiorska |
| Abstract: | A project aimed at presenting initial results from the implementation of the System of Health Accounts has been carried by the Health Policy Unit at the OECD and experts from thirteen member countries. The results are presented in the form of a comparative study (OECD Health Working Papers No. 16) and a set of OECD Health Technical Papers presenting individual country studies. This volume is the tenth in this series, presenting the Polish SHA-based health accounts. L’Unité des politiques de santé de l’OCDE et des experts originaires de treize pays Membres ont mené un projet visant à rendre compte des premiers résultats de la mise en œuvre du Système de comptes de la santé (SCS). Ces résultats se présentent sous la forme d’une étude comparative (document de travail sur la santé n° 16 de l’OCDE) et d’un ensemble de rapports techniques sur la santé contenant des études par pays. Ce volume est le dixième de la série, il examine les comptes de la santé fondés sur le SCS en Pologne. |
| JEL: | H51 I10 |
| Date: | 2004–08–17 |
| URL: | http://d.repec.org/n?u=RePEc:oec:elsaae:10-en&r=eec |
| By: | Iben Kamp Nielsen |
| Abstract: | A project aimed at presenting initial results from the implementation of the System of Health Accounts has been carried by the Health Policy Unit at the OECD and experts from thirteen member countries. The results are presented in the form of a comparative study (OECD Health Working Papers No. 16) and a set of OECD Health Technical Papers presenting individual country studies. This volume is the third in this series, presenting the Danish SHA-based health accounts. L’Unité des politiques de santé de l’OCDE et des experts originaires de treize pays Membres ont mené un projet visant à rendre compte des premiers résultats de la mise en œuvre du Système de comptes de la santé (SCS). Ces résultats se présentent sous la forme d’une étude comparative (document de travail sur la santé n° 16 de l’OCDE) et d’un ensemble de rapports techniques sur la santé contenant des études par pays. Ce volume est le troisième de la série, il examine les comptes de la santé fondés sur le SCS au Danemark. |
| JEL: | H51 I10 |
| Date: | 2004–08–31 |
| URL: | http://d.repec.org/n?u=RePEc:oec:elsaae:3-en&r=eec |
| By: | Yves-Alain Gerber; Raymond Rossel |
| Abstract: | A project aimed at presenting initial results from the implementation of the System of Health Accounts has been carried by the Health Policy Unit at the OECD and experts from thirteen member countries. The results are presented in the form of a comparative study (OECD Health Working Papers No. 16) and a set of OECD Health Technical Papers presenting individual country studies. This volume is the twelfth in this series, presenting the Swiss SHA-based health accounts. L’Unité des politiques de santé de l’OCDE et des experts originaires de treize pays Membres ont mené un projet visant à rendre compte des premiers résultats de la mise en œuvre du Système de comptes de la santé (SCS). Ces résultats se présentent sous la forme d’une étude comparative (document de travail sur la santé n° 16 de l’OCDE) et d’un ensemble de rapports techniques sur la santé contenant des études par pays. Ce volume est le douzième de la série, il examine les comptes de la santé fondés sur le SCS en Suisse. |
| JEL: | H51 I10 |
| Date: | 2004–08–17 |
| URL: | http://d.repec.org/n?u=RePEc:oec:elsaae:12-en&r=eec |
| By: | Halil Erkan Eristi; Mehtap Kartal; Huseyin Ozbay |
| Abstract: | A project aimed at presenting initial results from the implementation of the System of Health Accounts has been carried by the Health Policy Unit at the OECD and experts from thirteen member countries. The results are presented in the form of a comparative study (OECD Health Working Papers No. 16) and a set of OECD Health Technical Papers presenting individual country studies. This volume is the thirteenth in this series, presenting the Turkish SHA-based health accounts. L’Unité des politiques de santé de l’OCDE et des experts originaires de treize pays Membres ont mené un projet visant à rendre compte des premiers résultats de la mise en œuvre du Système de comptes de la santé (SCS). Ces résultats se présentent sous la forme d’une étude comparative (document de travail sur la santé n° 16 de l’OCDE) et d’un ensemble de rapports techniques sur la santé contenant des études par pays. Ce volume est le treizième de la série, il examine les comptes de la santé fondés sur le SCS en Turquie. |
| JEL: | H51 I10 |
| Date: | 2004–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:oec:elsaae:13-en&r=eec |
| By: | Arno TAUSCH (Department of Political Science, Innsbruck University) |
| Abstract: | Both in demographic as well as in sociological terms, much of West European fears about East European migration at least conceal the real issues of the future migration processes. An analysis of world population growth trends shows that Africa, West Asia and Southeast-Asia become the real future sending countries, while the demographic structure of East Central Europe more and more resembles the countries of Western Europe. The enlarged Europe becomes California, and the Mediterranean countries become “our” Mexico. That is the structure of the 21st Century. Multiple regression evidence supports these hypotheses. The paper is also available online freely from http://www.fscpo.unict.it/EuroMed/cjmEBO OKSengl.htm |
| Keywords: | Migration, religion |
| JEL: | F22 |
| Date: | 2005–10–10 |
| URL: | http://d.repec.org/n?u=RePEc:wpa:wuwpla:0510009&r=eec |
| By: | Helena Marques (Loughborough University) |
| Abstract: | This paper applies the concept of trade creation and diversion to immigration into the EU-15 in the 1980s and 1990s. In particular, the 1990s process of East-West integration, culminating in the May 2004 enlargement, could potentially create immigration from the new member countries and at the same time divert migration from non-EU countries. In this context, the question this paper tries to answer is fundamentally whether the extension of the EU Single Market to the new member countries has the potential to crowd-out non-EU immigrants. The analysis is carried out using trend analysis, Truman shares, and panel data gravity models. The results are quite robust to a range of regression methods, model specifications, dependent variables, and time periods. They broadly support the migration creation hypothesis, but the evidence on the migration diversion hypothesis is mixed. There is evidence of some diversion away from other non-member European countries, such as ex-USSR and ex-Yugoslavia countries, in favour of the new Central and Eastern European members. However, the evidence of diversion away from non-European countries is much weaker, if at all existent. The high impact of a common language, when compared to distance or even a common border, may help preserving migration channels from outside Europe. Within Europe, shorter distances and common borders become more relevant. |
| Keywords: | gravity model, migration creation and diversion, EU enlargement |
| JEL: | F15 F16 F22 J61 |
| Date: | 2005–04 |
| URL: | http://d.repec.org/n?u=RePEc:lbo:lbowps:2005_01&r=eec |
| By: | Ovidiu SIMINA (West University of Timisoara, Romania) |
| Abstract: | The first of May 2004 marked an important date in the history of Europe as a political, geographic, and social entity. After years of negotiations, ten European countries joined the European Union, bringing in their potential and expectations, adding a total population of 75 million people and a territory of 738,000 square kilometres: Poland, Hungary, the Czech Republic, Slovenia, Slovakia, Malta, Cyprus, Estonia, Latvia and Lithuania. The EU will continue its enlargement under the Luxembourg Presidency. The membership treaty with Bulgaria and Romania will be finalised with a view to signature in 25 April 2005, in order to join the EU by 2007. Once it has been signed, this will mark the end of the current accession cycle. Membership negotiations with Croatia should commence on 17 March 2005. In mid-December 2004 EU leaders endorsed eventual Turkish entry into the EU, but said that there could be permanent restrictions on freedom of movement for Turkish workers; earlier, the EU Parliament voted 407-262 in favour of Turkey's entry. Romania feels and acts like a European country. You will rather notice a European flag in Bucharest than in London, for example. Romania is not only a country who makes effort to join the European family, by introducing the necessary legal provisions in the national legislation, but it is already part of one, whole Europe, ruled by law, an area of Freedom, Security and Justice. Romania fights against immigration flows targeting Western Countries and guards the external border of European Union. In the same time, Romanians are spread all over Europe, living there alike other Europeans. Until the European Union Member States will decide that Romania truly deserves to join the family, Romanians have to prove that they do not only feel and act as Europeans, but they truly are Europeans |
| Keywords: | UE Enlargement, external border, Romania, European migration, labour mobility |
| JEL: | F02 F22 J11 J61 J70 |
| Date: | 2005–10–08 |
| URL: | http://d.repec.org/n?u=RePEc:wpa:wuwpla:0510008&r=eec |
| By: | Aurora Galego (Department of Economics, University of Évora); Carlos Vieira (Department of Economics, University of Évora); Isabel Vieira (Department of Economics, University of Évora) |
| Abstract: | Is foreign direct investment crossing Europe towards the East? During the last few years, news of foreign direct disinvestments have regularly emerged on the Portuguese media. The group of suspects have been identified as the new European Union members, where low wages, low corporate taxes and a highly educated labour force seems to attract multinationals eager to cut costs in an economy slowly recovering from recession. The clues of investment displacements abound, but no definite proof has yet been found in the empirical literature. This paper considers the available evidence, contributing to avoid possibly unfair incriminations. |
| Keywords: | Foreign direct investment, EU Enlargement, Gravity model, FDI determinants, FDI diversion |
| JEL: | F15 F21 |
| Date: | 2005 |
| URL: | http://d.repec.org/n?u=RePEc:evo:wpecon:16_2005&r=eec |
| By: | Ansgar Belke (University of Hohenheim and IZA Bonn); Frank Baumgärtner (University of Hohenheim); Friedrich Schneider (University of Linz and IZA Bonn); Ralph Setzer (University of Hohenheim) |
| Abstract: | This paper empirically investigates the differences in the motives of raising privatisation proceeds for a panel of EU countries from 1990 to 2000. More specifically, we test whether privatisations can be mainly interpreted (a) as ingredients of a larger reform package of economic liberalisation in formerly overregulated economies, (b) as a reaction to an increasing macroeconomic problem pressure and (c) as a means to foster growth and increase tax income and relax the fiscal stance with an eye on the demands by integration of economic and financial markets. Whereas we are able to corroborate claim (a) only partly, we gain consistent evidence in favour of claims (b) and (c). |
| Keywords: | European Union, panel analysis, partisan theory, privatisation proceeds, state-owned enterprises |
| JEL: | H42 E62 L33 |
| Date: | 2005–09 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp1741&r=eec |
| By: | Jean-Christophe Dumont; Georges Lemaître |
| Abstract: | Results presented in this paper based on the new database on immigrants and expatriates in OECD countries, show that (i) the percentage of the foreign-born in European OECD countries is generally higher than the percentage of foreigners; (ii) international migration is quite selective towards highly skilled migrants; (iii) in most OECD countries, the number of immigrants with tertiary education exceeds the number of highly qualified expatriates to other OECD countries; (iv) among non-member countries the impact of the international mobility of the highly skilled is diverse: the largest developing countries seem not be significantly affected and indeed may benefit from indirect effects associated with this mobility while some of the smallest countries, especially in the Caribbean and in Africa, face significant ‘emigration rates’ of their elites. S'appuyant sur ces informations, l'OCDE a créé une nouvelle base de données sur les immigrés et les expatriés. Les résultats présentés dans ce document montrent que i) le pourcentage des personnes nées à l'étranger dans les pays européens de l'OCDE est généralement plus élevé que celui des étrangers ; ii) les migrations internationales s'orientent de manière sélective vers les migrants hautement qualifiés ; iii) dans la plupart des pays de l'OCDE, le nombre d'immigrés possédant un niveau d'éducation de l'enseignement supérieur dépasse le nombre des expatriés hautement qualifiés vers d'autres pays de l'OCDE ; iv) parmi les pays non membres de l'OCDE, l'impact de la mobilité internationale des travailleurs immigrés hautement qualifiés est diversifié : les grands pays en développement semblent moins affectés et en fait pourraient même bénéficier des effets indirects associés à cette mobilité, alors que certains pays de plus petite taille, spécialement dans les Caraïbes et en Afrique, se trouvent confrontés à des taux d'émigration élevés de leurs élites. |
| JEL: | F22 J24 J61 O15 |
| Date: | 2005–06–22 |
| URL: | http://d.repec.org/n?u=RePEc:oec:elsaab:25-en&r=eec |
| By: | Nora Dihel; Blanka Kalinova |
| Abstract: | This paper applies the most advanced methodologies for measuring services barriers to calculate the restrictiveness and the impact of services barriers in selected transition economies, i.e. the Baltic States, and eight South Eastern European (SEE) countries (for telecommunications and banking) and Russia (for telecommunications). Among the selected countries, the Baltic countries record the highest liberalisation scores for both telecommunications and banking services making their situation comparable to that of most developed countries. By contrast, the SEE countries have more room to improve their performance and the price level of their telecommunication services, both in fixed and cellular services by eliminating general restrictions on competition and removing barriers to foreign equity participation. With respect to banking services, the results suggest that the SEE markets are fairly contestable; policy priorities would thus appear to be broad issues of macroeconomic stability and structural reform. The telecommunications estimates put Russia in an intermediate position between the results for the Baltic States and the SEE countries. The WTO... |
| Keywords: | telecommunications, transition economies, services, banking, liberalisation, barriers, benefits, WTO |
| Date: | 2004–10–07 |
| URL: | http://d.repec.org/n?u=RePEc:oec:traaab:7-en&r=eec |
| By: | Catalina Amuedo-Dorantes (San Diego State University and IZA Bonn); Sara de la Rica (Universidad del País Vasco and IZA Bonn) |
| Abstract: | This paper presents new evidence on the role of gender segregation within industry, occupation, establishment, and occupation-establishment cells in explaining gender wage differentials of full-time salaried workers in Spain during 1995 and 2002. Using data from the Spanish Wage Structure Surveys, we find that the raw gender wage gap decreased from 0.26 to 0.22 over the course of seven years. However, even after accounting for workers’ human capital, job characteristics, and female segregation into lower-paying industries, occupations, establishments, and occupations within establishments, women still earned approximately 13 percent and 16 percent less than similar male counterparts as of 1995 and 2002, respectively. Most of the gender wage gap is attributable to workers’ sex. Yet, female segregation into lower-paying occupations within establishments, establishments and industries accounted for a sizable and growing fraction of the female-male wage differential. |
| Keywords: | gender wage differentials, female segregation, matched employer-employee data |
| JEL: | J16 J7 |
| Date: | 2005–09 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp1742&r=eec |
| By: | Martin Jørgensen |
| Abstract: | This paper discusses ways of strengthening the competitive environment in order to help boost productivity performance in various sectors of the Danish economy. It looks at a number of indicators of the strength of competition — including price levels, industrial concentration and product market regulation — and it discusses the appropriateness of the competition legislation framework. The paper then focuses on the large public sector, which has been slow to open up to competition, partly because of regulatory restrictions but also because some local governments are too small to handle tenders and provide an attractive market for private providers. The paper also looks at the process of liberalising network industries and at various regulations that still impede effective competition in a number of other sectors, including construction, housing, distribution and professional services. <P>Dynamiser la croissance en stimulant la concurrence au Danemark Le document de travail examine les moyens de renforcer le cadre concurrentiel pour stimuler la productivité dans divers secteurs de l'économie du Danemark. Il passe en revue un certain nombre d'indicateurs de la vigueur de la concurrence –– notamment le niveau des prix, la concentration industrielle et la réglementation des marchés de produits –– et évalue l'adéquation du cadre législatif de la concurrence. L'analyse se porte ensuite sur le vaste secteur public, qui a tardé à s'ouvrir à la concurrence, du fait de restrictions réglementaires mais aussi parce que certaines collectivités locales sont trop petites pour gérer des appels d'offres et offrir un marché attractif à des prestataires privés. Le document de travail examine aussi le processus de libéralisation des industries de réseau ainsi que différentes réglementations qui font encore obstacle à une concurrence efficace dans plusieurs autres secteurs, dont la construction, le logement, la distribution et les services professionnels. |
| Keywords: | network industries, réglementation, industrie de réseau, competition, privatisation, Denmark, regulations, concurrence, Danemark, privatisation, public procurement, marchés publics, product markets, retail distribution, construction, public sector, competitive neutrality, marchés de produits, grande distribution, construction, neutralité de concurrence |
| JEL: | H4 K21 L1 L32 L33 L41 L43 L44 L8 L9 O52 |
| Date: | 2005–05–18 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:431-en&r=eec |
| By: | Erling Holmøy (Statistics Norway) |
| Abstract: | The paper derives a general equilibrium demand function for electricity by imposing a specific closure rule on a large CGE-model of the Norwegian economy. By a decomposition technique it quantifies the contribution from various mechanisms to the price sensitivity of aggregate electricity demand. Specifically, it identifies the contributions from substitution at the micro level, as well as changes in the industry structure to the substitution at the aggregate level. It also separates the substitution effects of equilibrium adjustments of other prices than the electricity price, and macroeconomic income effects on total demand. The direct price elasticity of aggregate electricity demand is estimated to -0.31. Within industry factor substitution contributes most to this response. |
| Keywords: | Electricity demand; Computable general equilibrium model |
| JEL: | Q41 Q43 |
| Date: | 2005–06 |
| URL: | http://d.repec.org/n?u=RePEc:ssb:dispap:426&r=eec |
| By: | William Pyle |
| Abstract: | What determines the mechanism chosen to resolve a commercial dispute? To what degree does the aggrieved recover damages? And does the relationship survive in the aftermath? The answers to these questions affect expectations as to the costs of transacting and, thereby, the development of markets. But they have received almost no attention in the economic literature on the post-socialist transition. This article exploits a rich survey of small and medium-sized manufacturing enterprises in three Central and East European countries to explain responses to an inter-firm payment dispute. The evidence suggests that behavior at successive stages is strongly influenced by the transaction costs associated with greater geographic distance between the firms. The evidence also strongly suggests that the costs of a dispute can be mitigated by membership in a business association. |
| JEL: | D23 D74 K40 K41 P37 |
| Date: | 2005 |
| URL: | http://d.repec.org/n?u=RePEc:mdl:mdlpap:0523&r=eec |
| By: | Julien Brunel (LET - Laboratoire d'économie des transports - http://www.let.fr/ - CNRS : UMR5593;ENTP - Université Lumière - Lyon II) |
| Abstract: | The link between transport and economic growth is nowadays understood behind the so-called issue of coupling. Transport intensity or transport elasticity to economic production are generally used to assess the link. In this paper, road freight intensity is decomposed into four factors. A European panel data estimation of these four factors isolates levels of coupling and levels of decoupling. We observe two factors of coupling (i. e. the rise of the average distance of transport and the increasing market share of road transport) and two factors of decoupling (the decreasing share of the industry in the economic production and the decreasing weight of industrial production). (Author's abstract) |
| Keywords: | coupling ; economic growth ; transport growth ; transport intensity |
| Date: | 2005–10–04 |
| URL: | http://d.repec.org/n?u=RePEc:hal:papers:halshs-00004826_v1&r=eec |
| By: | Philip Hemmings |
| Abstract: | The Hungarian government has recently been focusing on innovation policy as part of a wider campaign to improve the business environment. This paper first underscores the importance of a good general business climate in encouraging both formal and informal R&D activity as well as ensuring Hungary benefits from the international diffusion of innovation. In examining specific innovation policies, the new National Innovation System is described and an assessment is made of the National Innovation Fund and the Innovation Contribution used to fund it. Assessment of changes in R&D tax allowances and in the strategy for giving out grants for research is also made. The paper also looks at regulatory reform to improve industry-science links, including the government’s recent legislative changes that make it easier for universities to set up spin-off companies. The final section considers what further reforms are needed to help tertiary and compulsory education become more conducive to innovation and to encourage the deepening of human capital in general. <P>La politique d'innovation en Hongrie Le gouvernement hongrois a récemment mis l'accent sur la politique d'innovation dans le cadre plus vaste d'une campagne destinée à améliorer l'environnement des entreprises. Cet document souligne à quel point il est important que le climat général des affaires soit bon pour encourager les activités formelles de recherche-développement (R-D) et les types plus informels d'innovation, et pour que la Hongrie puisse tirer parti de la diffusion internationale de l'innovation. Dans le cadre de l'examen des dispositifs spécifiques de promotion de l'innovation, nous décrivons le nouveau Système national d'innovation et nous évaluons le Fonds national pour l'innovation, ainsi que la Contribution à l'innovation utilisée pour le financer. Nous examinons également l'évolution des mécanismes de crédits d'impôt et de la stratégie d'attribution des subventions de recherche. Cet document aborde ensuite les mesures de réforme de la réglementation axées sur le resserrement des liens entre entreprises et milieux scientifiques, notamment les dispositions législatives adoptées récemment qui facilitent la création par les universités d'entreprises issues de la recherche. Dans la dernière partie, nous nous demandons quelles sont les réformes complémentaires nécessaires pour que l'enseignement supérieur et l'enseignement obligatoire favorisent davantage l'innovation et le renforcement du capital humain en général. |
| Keywords: | Hungary, Hongrie, research and development, recherche-développement, innovation policy, education policy, politique innovation, politique enseignement |
| JEL: | I20 O30 P20 |
| Date: | 2005–09–28 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:445-en&r=eec |
| By: | OECD |
| Abstract: | This paper assesses what role product market competition and regulatory reforms may have played in the performance of the British economy over the past decade. Competitive pressures appear to be relatively strong in the United Kingdom, with regulations inhibiting competition and barriers to trade amongst the lowest in the OECD. Nevertheless, there is scope for improvement and the recent overhaul of competition legislation should help to further promote competition. Much progress has been made in the professional services sector. Self-regulatory bodies are no longer exempt from competition legislation and professional bodies have undertaken a number of actions towards removing or easing restrictions that inhibit competition. In the retail sector, market power remains a problem and the competition authorities will need to remain vigilant. The government’s recent approach to planning has made new large scale entry very difficult, impeding competition and inhibiting entry. Industry regulators also need to remain vigilant in the electricity, gas and telecommunications sectors. Reforms in these sectors have led to increased productivity, though international comparisons suggest that there is scope for prices to fall. While recent steps by the government overcome the most serious weaknesses of the privatised rail system, continuing problems regarding incentives and responsibilities remain to be resolved. <P>Concurrence sur les marchés de produits et performance économique au Royaume-Uni L'objet du présent document est d'évaluer le rôle que la concurrence sur les marchés de produits et les réformes de la réglementation ont pu jouer dans les performances de l'économie britannique au cours des dix dernières années. Les pressions concurrentielles semblent relativement fortes au Royaume-Uni, où les réglementations entravant la concurrence et les obstacles aux échanges figurent parmi les plus modestes de la zone OCDE. Il existe néanmoins des marges de progression, et la récente refonte du droit de la concurrence devrait contribuer à promouvoir davantage celle-ci. Des avancées considérables ont été accomplies dans le secteur des services professionnels. Les organismes d'autoréglementation ne sont plus exclus du champ d'application du droit de la concurrence, et des organismes professionnels ont pris un certain nombre de mesures en vue de lever ou d'assouplir les restrictions à la concurrence. Dans le secteur de la distribution, la question du pouvoir de marché reste problématique et les autorités de la concurrence devront rester sur le qui-vive. L'approche adoptée récemment par le gouvernement en matière d'urbanisme a rendu très difficile l'installation de nouvelles grandes surfaces, ce qui entrave la concurrence et l'entrée de nouveaux acteurs sur le marché. Les autorités de régulation compétentes doivent également demeurer vigilantes dans les secteurs de l'électricité, du gaz et des télécommunications. Les réformes menées dans ces branches d'activité ont débouché sur des gains de productivité, mais des comparaisons internationales laissent à penser que les prix peuvent encore baisser. Si les récentes initiatives des pouvoirs publics ont permis de remédier aux défaillances les plus graves du système privatisé de transport ferroviaire, les problèmes persistants relatifs aux incitations et au partage des compétences doivent encore être résolus. |
| Keywords: | market structure, structure de marché, network industries, industrie de réseau, competition, United Kingdom, Royaume-Uni, concurrence, productivity and growth, droit de la concurrence, productivité et croissance, antitrust law, regulatory policies, politique de réglementation |
| JEL: | K21 K23 L11 L16 L40 L43 O51 |
| Date: | 2005–07–09 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:433-en&r=eec |
| By: | Maria Maher; Michael Wise |
| Abstract: | This paper assesses what role product market competition and reforms may have played in the performance of the Dutch economy over the past decade, and discusses what further product market reforms might contribute to enhancing growth. In general, competitive pressures appear to be relatively strong in the Netherlands, particularly in the traded goods sector. Competition in product markets has been strengthened through the creation of a competition authority (NMa) and the Competition, Deregulation and Legislative Quality project (MDW). A planned reduction in the administrative burden will also help to strengthen competition, by reducing barriers to business start-ups and the expansion of small businesses, as well as lowering business costs. However, competitive pressures and productivity growth are weaker in the Dutch services sector. Planning restrictions are inhibiting competition and productivity growth in the retail sector and there is considerable scope to eliminate practices that restrict competition in professional services, even though both are relatively liberalised in the Netherlands. Reforms in electricity, gas and telecoms are recent and market power on the part of incumbent firms remains a concern. Competitive pressures in these industries could be increased by enhancing the powers of the regulators and eliminating barriers to entry. <P>Concurrence sur les marchés de produits et performance économique aux Pays-Bas Ce document évalue le rôle que la concurrence sur les marchés de produits et les réformes ont pu jouer dans les performances de l’économie néerlandaise cette dernière décennie et débat sur l’action qui pourrait être menée pour améliorer la croissance. D’une façon générale, les pressions concurrentielles paraissent relativement fortes aux Pays-Bas en particulier dans les secteurs des biens échangés. La concurrence sur les marchés de produits a été renforcée grâce à la mise en place d’une autorité de la concurrence (la NMa) et au projet « Concurrence, déréglementation et qualité de la réglementation » (MDW). L’allégement prévu des charges administratives contribuera également à renforcer la concurrence en réduisant les obstacles à la création d’entreprises et à l’expansion des petites entreprises, tout en diminuant les coûts des activités industrielles ou commerciales. Toutefois, la concurrence et la productivité du travail sont plus faibles dans le secteur des services. Les règles d’urbanisme entravent la concurrence et la croissance de la productivité dans le commerce de détail et de vastes possibilités s’offrent d’éliminer les pratiques qui restreignent la concurrence dans les services professionnels, même si ces activités sont relativement libéralisées aux Pays- Bas. Les réformes dans les secteurs de l’électricité, du gaz et des télécommunications sont récentes et le pouvoir de marché des opérateurs historiques demeure problématique. La concurrence dans ces secteurs pourrait être intensifier, en augmentant les prérogatives des autorités de régulation et en éliminant les barrières à l’entrée. |
| Keywords: | market structure, structure de marché, network industries, industrie de réseau, competition, Netherlands, Pays-Bas, concurrence, productivity and growth, droit de la concurrence, productivité et croissance, antitrust law, regulatory policies, politique de réglementation |
| JEL: | K21 K23 L11 L16 L40 L43 O51 |
| Date: | 2005–03–31 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:422-en&r=eec |
| By: | Karina Gabrielsen, Torstein Bye and Finn Roar Aune (Statistics Norway) |
| Abstract: | Concentration of greenhouse gases in the atmosphere influences the climate, which then alters the amount of primary energy for countries or regions where hydropower and wind power constitute important parts of the energy supply. Besides, the demand effect of temperature increases may be large in economies where heating and air-conditioning demand a large share of total energy. In this article, we apply climate change calculations from natural science and detailed inflow data from the authorities to estimate the change in primary energy supply of the hydropower-dominated Nordic electricity market. The estimated inflow model shows an increase in primary inflow in the next 40 years of 6–15% in the Nordic countries. An estimated temperature model shows a 2–4% initial drop in demand in the same time period, because of increasing temperature. Within the context of a perfect-competition electricity market model, we simulate the total market outcome. As primary supply increases, the production cost decreases, prices drop and the total demand increases as the price effect dominates the temperature effect. Since the hydropower plants are located away from large consumer groups, the stress on the transmission networks is dramatic for some regions, which in the next phase may trigger new investments in transmission network capacities. |
| Keywords: | Climate change; electricity market |
| JEL: | Q11 Q21 Q42 |
| Date: | 2005–08 |
| URL: | http://d.repec.org/n?u=RePEc:ssb:dispap:430&r=eec |
| By: | Fabien Postel-Vinay; Hélène Turon |
| Abstract: | The existing literature on inequality between private and public sectors focuses on cross-section differences in earnings levels. A more general way of looking at inequality between sectors is to recognize that forward-looking agents will care about income and job mobility too. We show that these are substantially different between the two sectors. Using data from the BHPS, we estimate a model of income and employment dynamics over seven years. We allow for unobserved heterogeneity in the propensity to be unemployed or employed in either job sector and in terms of the income process. We then combine the results into lifetime values of jobs in either sector and carry out a cross-section comparative analysis of these values. We have four main findings. First focusing on cross-sector differences in terms of the income process only, we detect a positive average public premium both in income flows and in the present discounted sum of future income flows. Second, we argue that income inequality is lower but more persistent in the public sector, as most of the observed relative cross-sectional income compression in the public sector is due to a lower variance of the transitory component of income. Third, when taking job mobility into account, the lifetime public premium is essentially zero for workers that we categorize as "high-employability" individuals, suggesting that the UK labor market is sufficiently mobile to ensure a rapid allocation of workers into their "natural" sector. Fourth, we find some evidence of job queuing for public sector jobs among "low-employability" workers. |
| Date: | 2005 |
| URL: | http://d.repec.org/n?u=RePEc:pse:psecon:2005-30&r=eec |
| By: | Jens Lundsgaard |
| Abstract: | With population ageing setting in sooner and more forcefully than in other OECD countries, Finland needs to reorder its fiscal priorities so as to ensure fiscal sustainability. That will require considerable reform as public spending currently expands vigorously. While GDP growth has slowed from the exceptionally rapid pace of the late 1990s, public consumption has continued to grow fast, as new obligations by central government and popular demand led municipalities to expand service provision. After some consolidation in 2003, local government spending has accelerated again and the deficit has widened to ¾ per cent of GDP in 2004 for the municipalities considered as a whole – despite still larger transfers from central government. At the same time, the tax burden is high, especially on labour. Ensuring the sustainability of public finances over the long term, while maintaining the essential parts of the welfare society will only be possible by i) raising the effectiveness of public spending, ii) reforming the financing of municipalities to encourage better control of spending and limit future rises in municipal income taxation and iii) rebalancing the mix between public and private provision and funding of services. This working paper discusses ways in which progress could be made on such a policy agenda. It relates to the 2004 OECD Economic Survey of Finland (www.oecd.org/eco/surveys/finland) updating the Survey’s analysis by incorporating data for 2004 and recent developments. <P>Vieillissement, services sociaux et collectiviés locales en Finlande Avec une population qui vieillit plus rapidement et plus fortement que dans les autres pays de l’OCDE, la Finlande se trouve dans l’obligation d’ajuster ses priorités budgétaires afin d’en assurer la viabilité à plus long terme. Il faudra pour cela des réformes considérables, car l’expansion des dépenses publiques est actuellement très forte. Bien que la croissance du PIB se soit ralentie par rapport à son rythme exceptionnellement rapide du début des années 90, la consommation publique a continué à progresser rapidement, les nouvelles obligations imposées par l’administration centrale et par la pression des usagers ayant amené les municipalités à accroître leur offre de services publics. Après une certaine stabilisation en 2003, les dépenses des collectivités locales se sont à nouveau accélérées et le déficit a été porté à ¾ pour cent du PIB en 2004 pour les municipalités considérées dans leur ensemble – malgré le versement de transferts encore plus importants par l’administration centrale. Quant à la charge fiscale, elle reste élevée, surtout celle qui pèse sur la main-d’œuvre. Il ne sera possible d’assurer la stabilisation à long terme des finances publiques tout en maintenant les éléments essentiels de la protection sociale qu’à condition i) d’améliorer l’efficacité des dépenses publiques, ii) de réformer le financement des communes pour les inciter à mieux contrôler leurs dépenses et limiter les augmentations futures de l’impôt municipal sur le revenu et iii) de rééquilibrer le partage entre le secteur public et le secteur privé dans l’offre et dans le financement des services publics. Ce document de travail examine les moyens de progresser dans la réalisation de ce programme. Il se réfère à l’Etude économique de 2004 de l’OCDE sur la Finlande (www.oecd.org/eco/etudes/finlande) et met à jour les analyses effectuées dans cette étude en y insérant des données pour 2004 et en prenant en compte l’évolution récente. |
| Keywords: | Finland, fiscal policy, politique budgétaire, ageing, public sector efficiency, efficacité du secteur public, pensions, local government, retraites, vouchers, fiscal federalism, vieillissement, fédéralisme budgétaire, Finlande, impôt sur le revenu, contracting out, income tax, property tax, welfare services, collectivités locales, bons d'achat, externalisation, impôt immobilier, services sociaux |
| JEL: | H2 H4 H5 H7 L3 |
| Date: | 2005–05–10 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:428-en&r=eec |
| By: | Cracolici, M. Francesca (Vrije Universiteit Amsterdam, Faculteit der Economische Wetenschappen en Econometrie (Free University Amsterdam, Faculty of Economics Sciences, Business Administration and Economitrics); Nijkamp, Peter |
| Abstract: | Tourism has become a wide-spread phenomenon in our age and a focal point of economic policy of many regions competing for the favours of tourists. Consequently, competitiveness of tourist destinations has received increasing interest in economic research with a view to the identification of the user attractiveness of a tourist area. The present paper is inspired by the conceptual competitiveness model developed by Crouch and Ritchie and presents an attempt to assess the relative attractiveness of tourist destinations on the basis of aggregate tourist strength of competing destinations. The main novelty of the present work is formed by the micro-based foundation of tourism attractiveness of competing areas (regions, cities, sites, etc.). The methodology deployed here uses individual survey questionnaires on the tourist' evaluation of the supply of tourist facilities and attributes in a given area (the 'regional tourist profile') as the basis for constructing an aggregate expression for the relative attractiveness of this area. The paper seeks then to estimate the competitive attractiveness of Southern regions in Italy and compares next findings on tourist effectiveness with results on tourist efficiency from a previous study |
| Keywords: | Tourism; Italy; Competition |
| JEL: | L83 |
| Date: | 2005 |
| URL: | http://d.repec.org/n?u=RePEc:dgr:vuarem:2005-9&r=eec |
| By: | Piergiuseppe Morone; Giuseppina Testa |
| Abstract: | : This paper aims at understanding the determinants of Italian small- and medium-sized enterprises’ competitiveness. Having in mind the fact that the Italian economic system relies substantially on small firms which have managed to stay competitive by adopting strategies such as the creation of well-integrated social and institutional clusters (the so-called industrial districts) or specialising in the production of quality goods (the so called made in Italy). However, the growing competing pressure coming from the Far East has rendered this production system vulnerable, challenging its internationally competitiveness. By developing a conceptual model we identify the sources of competitiveness of Italian SMEs. The model is tested using a unique database which collects data, for the year 2004, over a sample of 2,600 SMEs. |
| Keywords: | SMEs, competitiveness, innovation, interval regression, ordered probit |
| JEL: | L1 O31 C24 |
| Date: | 2005–09 |
| URL: | http://d.repec.org/n?u=RePEc:ufg:qdsems:18-2005&r=eec |
| By: | Torstein Bye and Einar Hope (Statistics Norway) |
| Abstract: | In this paper, we describe the approach to, and experience of, the deregulation and liberalisation of the Norwegian electricity sector from 1991. The Norwegian electricity market was subsequently integrated with the Swedish, Finnish and Danish markets to become the Nordic electricity market: the first common, integrated, intercountry electric power market in the world. We discuss the background to electricity market reform, the analytical and legal foundations for reform, and the chosen market and regulatory design. We find that the market has performed well in terms of economic efficiency and market functionality, even when exposed to severe supply shocks because of water shortages for a power system that relies heavily on hydropower. However, we also identify issues and challenges that must be addressed to improve the performance of the Nordic electricity market and its regulatory system. |
| Keywords: | Deregulation; Market design; Electricity markets |
| JEL: | D21 D41 D42 Q4 |
| Date: | 2005–09 |
| URL: | http://d.repec.org/n?u=RePEc:ssb:dispap:433&r=eec |
| By: | Peter J. Lambert and Thor O. Thoresen (Statistics Norway) |
| Abstract: | The analysis contrasts results of two recently expounded micro-level data approaches to derive robust intertemporal characterizations of redistributional effects of income tax schedules; the fixed-income procedure of Kasten, Sammartino and Toder (1994) and the transplant-and-compare method of Dardanoni and Lambert (2002). Our study is normative in that the Blackorby and Donaldson (1984) index of tax progressivity is employed. This enables contributions from vertical redistribution and horizontal inequity also to be assessed, using for the latter one classical measure and one no reranking measure. When the competing methodologies are applied to Norwegian data for 1992–2004, their respective strengths and weaknesses are revealed. The transplant-and-compare procedure is found to have a number of advantages. |
| Keywords: | Income tax; Tax progressivity; Horizontal inequity |
| JEL: | D31 D63 H24 |
| Date: | 2005–09 |
| URL: | http://d.repec.org/n?u=RePEc:ssb:dispap:434&r=eec |