Infrastructure and Growth: Empirical Evidence (2009)
Egert, Balazs, Kozluk, Tomasz, Sutherland, Douglas
Investment in network infrastructure can boost long-term economic growth in OECD countries. Moreover, infrastructure investment can have a positive effect on growth that goes beyond the effect of the...
This paper finds that coherent regulatory policies can boost investment in network industries of OECD economies. Rate-of-return regulation is generally thought to result in overinvestment, while...
This paper studies drivers of high-frequency (daily) dynamics of the South African rand vis-à-vis the dollar from January 2001 to July 2007. We find strong nonlinear effects of commodity prices,...
CASE Network Studies and Analyses No. 380 Dutch disease in former Soviet Union: witch-hunting (2009)
Real Convergence, Price Level Convergence and Inflation Differentials in Europe (2007)
This paper provides a comprehensive review of the factors that can cause price levels to diverge and which are at the root of different inflation rates in Europe including the EU-27. Among others, we...
Determinants of House Prices in Central and Eastern Europe (2007)
Egert, Balazs, Mihaljek, Dubravko
This paper studies the determinants of house prices in eight transition economies of central and eastern Europe (CEE) and 19 OECD countries. The main question addressed is whether the conventional...
Balázs Égert, a former Visiting Fellow of Bruegel, provides a comprehensive review of the factors that can cause price levels to diverge and which are at the root of different inflation rates in...
This paper investigates the importance of the Balassa-Samuelson effect for two acceding countries (Bulgaria and Romania), two accession countries (Croatia and Turkey) and two CIS countries (Russia...
We analyze interrelations between three stock markets in Central and Eastern Europe and, in addition, interconnections which may exist between Western European (DAX, CAC, UKX) and Central and Eastern...
Foreign Exchange Interventions and Interest Rate Policy in the Czech Republic: Hand in Glove?
This paper studies the impact of daily official foreign exchange interventions on the Czech koruna's exchange rate vis-a-vis the euro (the German mark prior to 1999) from 1997 to 2002. Both the event...
Inflation Differentials in Europe: Past Experience and Future Prospects
Balazs Egert, Doris Ritzberger-Gruenwald, Maria Antoinette Silgoner
This paper analyzes past and potential inflation differentials for current EU Member States and the acceding countries. Although inflation differentials decreased significantly over the last ten...
Dutch Disease Scare in Kazakhstan: Is it real?
Dutch disease, Balassa–Samuelson, Kazakhstan, Real exchange rate, Nominal exchange rate, Oil price, E31, F31, O11, P17,
We analyze interrelations between three stock markets in Central and Eastern Europe and, in addition, interconnections which may exist between Western European (DAX, CAC, UKX) and Central and Eastern...
The Stock-Flow Approach to the Real Exchange Rate of CEE Transition Economies
Balazs Egert, Amina Lahreche-Revil, Kirsten Lommatzsch
This paper investigates the determinants of equilibrium real exchange rates for the new EU member states and candidate countries, relying on an asset model inspired by Aglietta et al. (1998) and...
Balazs Egert, Amina Lahreche-Revil
This paper offers an empirical analysis of the real equilibrium exchange rate for 5 Central and Eastern European (CEE) countries in the prospect of their future E(M)U entry. The fundamental...
The Balassa-Samuelson effect in Central and Eastern Europe: myth or reality?
Egert, Balazs, Drine, Imed, Lommatzsch, Kirsten, Rault, Christophe
Equilibrium Exchange Rate in the Czech Republic: How Good is the Czech BEER?
This paper investigates the equilibrium exchange rate of the Czech koruna using the reduced form equation of the stock-flow approach advocated, for instance, by Faruqee (1995) and Alberola et al....
Real Exchange Rates in Central and Eastern Europe : What Scope for the Underlying Fundamentals?
The aim of this paper is to study the the fundamental macroeconomic determinants of both the CPI and the PPI-based real effective exchange rate in 5 selected acceding countries from Central and...
Real Exchange Rates in Central and Eastern Europe : What Scope for the Underlying Fundamentals?
The aim of this paper is to study the the fundamental macroeconomic determinants of both the CPI and the PPI-based real effective exchange rate in 5 selected acceding countries from Central and...
Determinants of House Prices in Central and Eastern Europe
Balazs Egert, Dubravko Mihaljek
This paper studies the determinants of house prices in eight transition economies of central and eastern Europe (CEE) and 19 OECD countries. The main question addressed is whether the conventional...
Real Convergence, Price Level Convergence and Inflation Differentials in Europe
This paper provides a comprehensive review of the factors that can cause price levels to diverge and which are at the root of different inflation rates in Europe including the EU-27. Among others, we...
Central Bank Interventions, Communication and Interest Rate Policy in Emerging European Economies
This paper analyses the effectiveness of foreign exchange interventions in Croatia, the Czech Republic, Hungary, Romania, Slovakia and Turkey using the event study approach. Interventions are found...
Determinants of House Prices in Central and Eastern Europe
Balazs Egert, Dubravko Mihaljek
This paper studies the determinants of house prices in eight transition economies of Central and Eastern Europe (CEE) and 19 OECD countries. The main question addressed is whether the conventional...
This paper studies drivers of high-frequency (daily) dynamics of the South African rand vis-à-vis the dollar from January 2001 to July 2007. We find strong nonlinear effects of commodity prices,...
This paper finds that coherent regulatory policies can boost investment in network industries of OECD economies. Rate-of-return regulation is generally thought to result in overinvestment, while...
Infrastructure and Growth: Empirical Evidence
Balazs Egert, Tomasz Kozluk, Douglas Sutherland
Investment in network infrastructure can boost long-term economic growth in OECD countries. Moreover, infrastructure investment can have a positive effect on growth that goes beyond the effect of the...