Physical Capital Adjustment Within Spain PDF Download

Author: Paolo Mauro
Publisher:
ISBN:
Category : Capital movements
Languages : en
Pages : 24

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Author: Mr.Paolo Mauro
Publisher: INTERNATIONAL MONETARY FUND
ISBN: 9781451843538
Category : Business & Economics
Languages : en
Pages : 18

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Book Description
This paper considers the adjustment of physical capital within a country in the long run and in the short run. It uses a unique data set on income, labor, human capital, and private and public physical capital in the Spanish regions over the past two decades. In the long run, the movement of physical capital is consistent with its estimated relative rates of return. In the short run, an adverse shock to a region results in a sharp drop in employment and a gradual decline of physical capital; the system returns to its initial capital/labor ratio after four years. The sharp drop in employment is consistent with the view that wages are rigid. The analysis of adjustment in the short run relies on a vector autoregression methodology in which shocks are identified as the interaction between oil prices and the share of manufacturing in a region’s employment.

Author: Francisco Torres
Publisher: Cambridge University Press
ISBN: 052144019X
Category : Business & Economics
Languages : en
Pages : 406

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The Maastricht Treaty, signed in December 1991, set a timetable for the European Community's economic and monetary union (EMU) and clearly defined the institutional policy changes necessary for its achievement. Subsequent developments have demonstrated, however, the importance of many key issues in the transition to EMU that were largely neglected at the time. This volume reports the proceedings of a joint CEPR conference with the Banco de Portugal, held in January 1992. In these papers, leading international experts address the instability of the transition to EMU, the long-run implications of monetary union and the single market for growth and convergence in Europe. They also consider the prospects for inflation and fiscal convergence, regional policy and the integration of financial markets and fiscal systems. Attention focuses on adjustment mechanisms with differentiated shocks, region-specific business cycles and excessive industrial concentration and the cases for a two-speed EMU and fiscal federalism.

Author:
Publisher:
ISBN:
Category : Spain
Languages : en
Pages : 72

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Author: Tito Boeri
Publisher: Centre for Economic Policy Research
ISBN: 9781898128663
Category : Business & Economics
Languages : en
Pages : 80

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The initial enthusiasm of many EU citizens at the 'return to Europe' of former members of the Soviet bloc has turned to anxiety at the realization of the possible adverse consequences of enlargement. Potential undesirable effects of enlargement, in particular for labour markets and social conditions, can be met by appropriately designed policies which are so far not in place or planned. Rather than legitimizing such fears, politicians and policy-makers must dispel them by leading the EU and its members to adopt these measures. Enlargement also offers the EU a window of opportunity to accelerate unavoidable reforms of structural policies, agricultural policies and their financing. These are the premises of this new CEPR Policy Paper. The authors outline the key economic and social implications of the prospective accession of the Central and East European countries into the European Union and propose policy recommendations for EU enlargement.

Author: C. Mulas-Granados
Publisher: Springer
ISBN: 023050163X
Category : Business & Economics
Languages : en
Pages : 331

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Motivated by the proliferation of fiscal consolidation episodes in the advent of Monetary Union, this book explains the causes and consequences of fiscal policy in Europe, using theory and empirical evidence from the last four decades.

Author: Christopher D. Piros
Publisher: John Wiley & Sons
ISBN: 1118416244
Category : Business & Economics
Languages : en
Pages : 803

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The economics background investors need to interpret global economic news distilled to the essential elements: A tool of choice for investment decision-makers. Written by a distinguished academics and practitioners selected and guided by CFA Institute, the world’s largest association of finance professionals, Economics for Investment Decision Makers is unique in presenting microeconomics and macroeconomics with relevance to investors and investment analysts constantly in mind. The selection of fundamental topics is comprehensive, while coverage of topics such as international trade, foreign exchange markets, and currency exchange rate forecasting reflects global perspectives of pressing investor importance. Concise, plain-English introduction useful to investors and investment analysts Relevant to security analysis, industry analysis, country analysis, portfolio management, and capital market strategy Understand economic news and what it means All concepts defined and simply explained, no prior background in economics assumed Abundant examples and illustrations Global markets perspective

Author: Constantine A. Stephanou
Publisher: Edward Elgar Publishing
ISBN: 9781781959084
Category : Political Science
Languages : en
Pages : 264

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Before the latest EU enlargement substantial changes in the integration process were predicted as a result of the accession of 10 new member states, with some forecasting cataclysmic consequences. This book, the first ex post assessment of EU enlargement, provides evidence to the contrary, while also providing examples in which the new members have been able to influence the EU policy output with their liberal attitudes on economic and social policy.

Author: CFA Institute
Publisher: John Wiley & Sons
ISBN: 1119315743
Category : Business & Economics
Languages : en
Pages : 3163

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Master the practical aspects of the CFA Program Curriculum with expert instruction for the 2017 exam The same official curricula that CFA Program candidates receive with program registration is now publicly available for purchase. CFA Program Curriculum 2017 Level II, Volumes 1-6 provides the complete Level II Curriculum for the 2017 exam, with practical instruction on the Candidate Body of Knowledge (CBOK) and how it is applied, including expert guidance on incorporating concepts into practice. Level II focuses on complex analysis with an emphasis on asset valuation, and is designed to help you use investment concepts appropriately in situations analysts commonly face. Coverage includes ethical and professional standards, quantitative analysis, economics, financial reporting and analysis, corporate finance, equities, fixed income, derivatives, alternative investments, and portfolio management organized into individual study sessions with clearly defined Learning Outcome Statements. Charts, graphs, figures, diagrams, and financial statements illustrate complex concepts to facilitate retention, and practice questions with answers allow you to gauge your understanding while reinforcing important concepts. While Level I introduced you to basic foundational investment skills, Level II requires more complex techniques and a strong grasp of valuation methods. This set dives deep into practical application, explaining complex topics to help you understand and retain critical concepts and processes. Incorporate analysis skills into case evaluations Master complex calculations and quantitative techniques Understand the international standards used for valuation and analysis Gauge your skills and understanding against each Learning Outcome Statement CFA Institute promotes the highest standards of ethics, education, and professional excellence among investment professionals. The CFA Program Curriculum guides you through the breadth of knowledge required to uphold these standards. The three levels of the program build on each other. Level I provides foundational knowledge and teaches the use of investment tools; Level II focuses on application of concepts and analysis, particularly in the valuation of assets; and Level III builds toward synthesis across topics with an emphasis on portfolio management.

Author: C. Martìn
Publisher: Springer
ISBN: 0230597106
Category : Business & Economics
Languages : en
Pages : 323

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This book assesses how EU economies have fared in their project of economic and monetary union. Drawing on an entirely new data bank for all fifteen member countries, it takes the Spanish economy as a point of departure to compare their gains and losses. It also considers the implications for the welfare state, enlargement towards Eastern Europe and the political integration of Europe. Combining rigorous analysis and clarity of style, the book is of value to both specialists and the general reader.