...
首页> 外文期刊>Empirica >Euro area growth differentials: diverging and reinforcing factors in a Kaleckian SVAR approach
【24h】

Euro area growth differentials: diverging and reinforcing factors in a Kaleckian SVAR approach

机译:欧元区增长差异:Kaleckian SVAR方法中的差异和增强因素

获取原文
获取原文并翻译 | 示例
           

摘要

The aim of this paper is to identify the euro area economic heterogeneity by disentangling the factors and characteristics shaping and exacerbating growth differentials between surplus and deficit countries. The five Kaleckian determinants of profits are used in the paper as the interpretative framework to assess the sources of divergence. According to an SVAR methodology, eight diverging factors and six reinforcing factors were detected as drivers of the differentials. It follows that the two regions represent different economic structures and that this dichotomy, in turn, means that symmetric shocks have asymmetric effects, while asymmetric shocks reinforce the regional differences. An endogenous investment-GDP feedback process and an investment-unemployment loop are mutually reinforcing mechanisms, which impair the production base and constrain future growth, so temporary shocks have long-lasting effects. The analysis emphasizes the need to rethink the European macro mechanism and to achieve a common and shared macro strategy that goes beyond national political interests and inclusively pursues the same objective: convergence.
机译:本文的目的是通过弄清形成盈余和赤字国家之间的因素和特征,并加剧其增长差异,来识别欧元区的经济异质性。本文使用五个Kaleckian决定因素作为评估差异来源的解释框架。根据SVAR方法,检测到八个发散因子和六个增强因子作为差异的驱动因素。因此,两个地区代表着不同的经济结构,这种二分法又意味着对称冲击具有非对称效应,而非对称冲击则加剧了地区差异。内生的投资-GDP反馈过程和投资-失业循环是相辅相成的机制,损害了生产基础并限制了未来的增长,因此临时冲击具有长期影响。分析强调,有必要重新考虑欧洲的宏观机制,并实现一个超越国家政治利益并共同追求相同目标的共同和共享的宏观战略:趋同。

著录项

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱:kefu@zhangqiaokeyan.com

京公网安备:11010802029741号 ICP备案号:京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有
  • 客服微信

  • 服务号