Papers by Francesco Mongelli
RePEc: Research Papers in Economics, Jul 1, 1997
This is a Working Paper and the author(s) would welcome any comments on the present text. Citatio... more This is a Working Paper and the author(s) would welcome any comments on the present text. Citations should refer to a Working Paper o/the International Monetary Fund. The views expressed are those of the author(s) and do not necessarily represent those ofthe Fund.
Introduction, Summary and Some Final Remarks
RePEc: Research Papers in Economics, Jul 1, 1996
This is a Working Paper and the author(s) would welcome any comments on the present text. Citatio... more This is a Working Paper and the author(s) would welcome any comments on the present text. Citations should refer to a Working Paper of the International Monetary Fund, mentioning the author(s), and the date of issuance. The views expressed are those of the author(s) and do not necessarily represent those of the Fund.
Social Science Research Network, 1997
This is a Working Paper and the author(s) would welcome any comments on the present text. Citatio... more This is a Working Paper and the author(s) would welcome any comments on the present text. Citations should refer to a Working Paper o/the International Monetary Fund. The views expressed are those of the author(s) and do not necessarily represent those ofthe Fund.
Institutions and Wage Formation in the New Europe
Transfer: European Review of Labour and Research, 2004
Introduction - new features of wage determination and institutions in Europe, Gabriel Fagan et al... more Introduction - new features of wage determination and institutions in Europe, Gabriel Fagan et al is European wage-setting different? evidence from the occupational wages around the world data file, Richard B. Freeman and Remco H. Oostendorp what determines the reservation wages of unemployed workers? new evidence from German micro data, Eswar Prasad labour as a buffer - do temporary workers suffer?, Alison L. Booth et al moving from the external to an internal labour market - job tenure, cycle and wage determination, Leandro Arozamena and Mario Centeno wage developments in the early years of EMU, Karl Pichelmann wage formation in the Italian private sector after the 1992-93 income policy agreements, Piero Casadio a widening scope for non-wage components in collective bargaining in the EU?, Veronique Genre et al the impact of active labour market policies in Europe, Julian Morgan and Annabelle Mourougane aggregation and euro area Phillips curves, Silvia Fabiani and Julian Morgan wage flexibility in Britain - some micro and macro evidence, Mark E. Schweitzer centralized bargaining and reorganized work - are they compatible?, Assar Lindbeck and Dennis J. Snower.
European financial integration during the COVID-19 crisis
SSRN Electronic Journal, 2005
In 2005 all ECB publications will feature a motif taken from the €50 banknote.
A Brief Comparison of the Eurosystem, the US Federal Reserve System, and the Bank of Japan
Elements of the Euro Area, 2018
Those Things You Might Not See, Which Are Still Beneficial
Stagnation Versus Growth in Europe, 2016
The euro area is slowly exiting a deep and prolonged economic, financial, institutional and confi... more The euro area is slowly exiting a deep and prolonged economic, financial, institutional and confidence crisis. Several reforms and adjustment processes are underway. An aspect that is often neglected in this difficult period is that European integration has an “engine” which has withstood the crisis: over the last 60 years there has been a continuing deepening of trade in goods and services, foreign direct investment and financial links across EU countries. Such EU Internal Market is a diffused process advancing slowly but steadily, while generating a stream of benefits (with a caveat during the crisis). Four new components of the internal market are under way and are briefly introduced in this chapter. They are: the EU’s Digital Agenda, the Capital Market Union (CMU), the Payment System Directive (PSD), and Target-to-Securities (T2S). These elements are quite ambitious in their respective domains and need to be completed, understood, and widely adopted to exert their benefits, and boost the benefits from the euro. This is a big change in culture that is also supporting the change in EMU governance and political economy under way.
The Eurosys-tem, the US Fed and the Bank of Japan: Similar-ities and Differences
Journal of Money, Credit and Banking, 2007
In 2007 all ECB publications feature a motif taken from the €20 banknote.
JCMS: Journal of Common Market Studies, 2007
How fast should the new Member States of the European Union (NMS) relinquish their domestic monet... more How fast should the new Member States of the European Union (NMS) relinquish their domestic monetary and exchange rate autonomy? While the Maastricht convergence criteria are attracting significant attention (particularly the inflation and deficit criteria), we think the debate should also examine the status of their economic structures and the progress of integration within the EU. Diverse aspects of the monetary integration of the NMS into the euro area are examined. We find less structural convergence is associated with less income convergence. The exchange rate regimes have a bearing on the speed of real convergence: for some NMS, and for some more time, exchange rate flexibility may still serve as a useful shock absorber.
Geothermics, 1981
Abslraet-Using Bullard"s theory on the representation of drilling operations by a line source of ... more Abslraet-Using Bullard"s theory on the representation of drilling operations by a line source of heat, a method is proposed, based on the knowledge of other parameters as well, for an approximate correction of bottom-hole temperatures (BHT). The accuracy of the proposed correction is discussed and tested.
Comparative Economic Studies, 2010
In this paper we compare the policy responsiveness of the Federal Reserve System, the European Ce... more In this paper we compare the policy responsiveness of the Federal Reserve System, the European Central Bank, the Bank of Japan and the Bank of England. At first glance we find substantial differences in the frequency and amplitude of monetary policy decisions. Differences in the actual implementation of monetary policy are, however, less pronounced when seen through the 'lenses' of diverse specifications of monetary policy rules-including a variant of the growth rule and a specification accounting for asymmetric preferences. In fact, all four central banks seem to pursue their respective price stability objective. The observed similarities might be due, inter alia, to the fact that they operate in four of the world's largest and most open economies, and are, therefore, subject to relatively similar domestic but also international economic fundamentals.
The euro at ten, lessons and challenges: fifth ECB Central Banking conference 13-14 November 2008
Social Science Research Network, 2016
Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch ge... more Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in EconStor may be saved and copied for your personal and scholarly purposes. You are not to copy documents for public or commercial purposes, to exhibit the documents publicly, to make them publicly available on the internet, or to distribute or otherwise use the documents in public. If the documents have been made available under an Open Content Licence (especially Creative Commons Licences), you may exercise further usage rights as specified in the indicated licence.
Social Science Research Network, 2022
This paper should not be reported as representing the views of the European Central Bank (ECB). T... more This paper should not be reported as representing the views of the European Central Bank (ECB). The views expressed are those of the authors and do not necessarily reflect those of the ECB.
Euro Area Growth and European Institutional Reforms
RePEc: Research Papers in Economics, Jan 2, 2019
Euro area countries have experienced profound economic, financial and institutional changes over ... more Euro area countries have experienced profound economic, financial and institutional changes over the last three decades. GDP growth has been very volatile, and very uneven, across countries. Which factors played a role in stirring growth and/or reducing it? We provide an atheoretical toolkit looking at a large set of real, financial, monetary and institutional variables, as possible factors behind fluctuations and differences in growth rates among euro area countries since 1990. The main outcome stresses the key positive role for long-run growth of higher European institutional integration, overall and for the periphery in specific. This result is robust across specifications and setups. If we split the European institutional integration in its main components, we can see a significant positive role for financial and political integration in the long-run. However the first seems to have beneficial effects for the core only while the opposite holds for the political integration which influences positively the periphery.
RePEc: Research Papers in Economics, Dec 1, 2005
The start of the European Economic and Monetary Union (EMU) has spurred a new interest in the deb... more The start of the European Economic and Monetary Union (EMU) has spurred a new interest in the debate on the effects of monetary unions on regional economic integration. This literature either investigates past episodes of monetary unions or attempts to gauge any effect with a few years of EMU data. This paper takes instead a more general perspective: it investigates the link between economic integration and the overall institutional process of regional integration in Europe-of which monetary integration was only one step-over the last 50 years. We look mainly at two dimensions: European institutional integration-whose main steps were the customs union in 1968, the single market in 1993 and the single currency in 1999-and intra-European trade. We pay special attention to the successive EU enlargements which took place in 1973, 1981, 1986, and 1995. Different facets of openness and trade linkages are presented. After looking at some descriptive links between institutional and trade integration, the paper uses some causality tests to assess the direction of causality and magnitude of impact. The evidence provided is consistent with the idea that the interaction between regional institutional and trade integration before monetary union matters. Such interaction runs in both directions, although the link from institutional to trade integration dominates. Many open questions remain, however.
Labour Supply in a New Europe
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Papers by Francesco Mongelli