Does the Zero Lower Bound affect Euro Area productivity?: A case study

Detalhes bibliográficos
Autor(a) principal: Moreira, Duarte Nuno Graça
Data de Publicação: 2019
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10071/19572
Resumo: The main research question associated with this case study is to contribute modestly to the discussion of the relationship between Zero Lower Bound (ZLB) framework and Productivity of the Euro Area, Germany and the GIIPS. The relationship between ZLB and Unit Labor Costs is also analyzed. The series analyzed correspond to the period from the first quarter of 2000 to the third quarter of 2018. The purpose of choosing this period is to maximize the quality of the analysis by addressing multiple stages of the global business cycles. To put this analysis into practice, the Vector Error Correction Model (VECM) was applied and the Granger Causality was analyzed. It is possible to conclude that only in Portugal does the ZLB affect Productivity and that the ZLB affect unit labor costs in Portugal and Spain exclusively.
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spelling Does the Zero Lower Bound affect Euro Area productivity?: A case studyZero Lower BoundUnit labor costsProductivityEuro AreaProdutividadeCustos unitários do trabalhoThe main research question associated with this case study is to contribute modestly to the discussion of the relationship between Zero Lower Bound (ZLB) framework and Productivity of the Euro Area, Germany and the GIIPS. The relationship between ZLB and Unit Labor Costs is also analyzed. The series analyzed correspond to the period from the first quarter of 2000 to the third quarter of 2018. The purpose of choosing this period is to maximize the quality of the analysis by addressing multiple stages of the global business cycles. To put this analysis into practice, the Vector Error Correction Model (VECM) was applied and the Granger Causality was analyzed. It is possible to conclude that only in Portugal does the ZLB affect Productivity and that the ZLB affect unit labor costs in Portugal and Spain exclusively.A preocupação do presente estudo de caso é contribuir modestamente para a discussão da relação entre a Zero Lower Bound (ZLB) e a produtividade da Área Euro, da Alemanha e dos GIIPS em particular. Foi também analisada a relação entre a ZLB e os Custos Unitários do Trabalho. As séries analisadas correspondem ao período compreendido entre o primeiro trimestre de 2000 e o terceiro trimestre de 2018. O objetivo da escolha deste período compreende-se com o facto de se pretender maximizar a qualidade da análise, analisando múltiplas fases do ciclo económico global. Para colocar em prática esta análise foi estimado o modelo Vector Error Correction Model (VECM) e analisada a Causalidade à Granger. Foi possível concluir que apenas em Portugal a ZLB afeta a produtividade e que a ZLB afeta os Custos Unitários do Trabalho em Portugal e Espanha, exclusivamente.2020-01-21T16:34:45Z2019-11-27T00:00:00Z2019-11-272019-09info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10071/19572TID:202359883engMoreira, Duarte Nuno Graçainfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-11-09T18:01:59Zoai:repositorio.iscte-iul.pt:10071/19572Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T22:33:18.657317Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Does the Zero Lower Bound affect Euro Area productivity?: A case study
title Does the Zero Lower Bound affect Euro Area productivity?: A case study
spellingShingle Does the Zero Lower Bound affect Euro Area productivity?: A case study
Moreira, Duarte Nuno Graça
Zero Lower Bound
Unit labor costs
Productivity
Euro Area
Produtividade
Custos unitários do trabalho
title_short Does the Zero Lower Bound affect Euro Area productivity?: A case study
title_full Does the Zero Lower Bound affect Euro Area productivity?: A case study
title_fullStr Does the Zero Lower Bound affect Euro Area productivity?: A case study
title_full_unstemmed Does the Zero Lower Bound affect Euro Area productivity?: A case study
title_sort Does the Zero Lower Bound affect Euro Area productivity?: A case study
author Moreira, Duarte Nuno Graça
author_facet Moreira, Duarte Nuno Graça
author_role author
dc.contributor.author.fl_str_mv Moreira, Duarte Nuno Graça
dc.subject.por.fl_str_mv Zero Lower Bound
Unit labor costs
Productivity
Euro Area
Produtividade
Custos unitários do trabalho
topic Zero Lower Bound
Unit labor costs
Productivity
Euro Area
Produtividade
Custos unitários do trabalho
description The main research question associated with this case study is to contribute modestly to the discussion of the relationship between Zero Lower Bound (ZLB) framework and Productivity of the Euro Area, Germany and the GIIPS. The relationship between ZLB and Unit Labor Costs is also analyzed. The series analyzed correspond to the period from the first quarter of 2000 to the third quarter of 2018. The purpose of choosing this period is to maximize the quality of the analysis by addressing multiple stages of the global business cycles. To put this analysis into practice, the Vector Error Correction Model (VECM) was applied and the Granger Causality was analyzed. It is possible to conclude that only in Portugal does the ZLB affect Productivity and that the ZLB affect unit labor costs in Portugal and Spain exclusively.
publishDate 2019
dc.date.none.fl_str_mv 2019-11-27T00:00:00Z
2019-11-27
2019-09
2020-01-21T16:34:45Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10071/19572
TID:202359883
url http://hdl.handle.net/10071/19572
identifier_str_mv TID:202359883
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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