Demand Patterns in France, Germany, and Belgium: Can We Explain the Differences?

Demand Patterns in France, Germany, and Belgium: Can We Explain the Differences?

4.11 - 1251 ratings - Source



The need to revive Euro area growth highlights the importance of the evolution of domestic and external demand in the core. This paper puts recent demand patterns in France, Germany, and Belgium into historical perspective. We find that, first, dynamics for private consumption, non-residential business investment, and exports since 2008 is dominated by conventional determinants, with no discernible structural break as a result of the crisis. Second, although country-specific factors matter in some cases, demand patterns in these countries are largely driven by common determinants. Third, developments in common fundamentals tend to dominate demand dynamics, coupled, in a few cases, with structurally different elasticities across countries. Fourth, short-term analysis suggests a role for confidence and uncertainty factors in explaining temporary deviations of these variables from long-term fundamentals.More recent theoretical approaches focus on microeconomic foundations (Romer , 2011). ... theory received an additional impulse in the 1980s and 1990s, thanks to the contributions from Bernanke (1983) and Pindyck (1991). ... 5 Answers obtained from the surveys are aggregated in the AcInternational Monetary Fund.


Title:Demand Patterns in France, Germany, and Belgium: Can We Explain the Differences?
Author: Mr. Igor Lebrun, Mrs. Esther Pérez Ruiz
Publisher:International Monetary Fund - 2014-09-12
ISBN-13:

You must register with us as either a Registered User before you can Download this Book. You'll be greeted by a simple sign-up page.

Once you have finished the sign-up process, you will be redirected to your download Book page.

How it works:
  • 1. Register a free 1 month Trial Account.
  • 2. Download as many books as you like (Personal use)
  • 3. Cancel the membership at any time if not satisfied.


Click button below to register and download Ebook
Privacy Policy | Contact | DMCA