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Demand Patterns in France, Germany, and Belgium :, Can We Explain the Differences?, Igor Lebrun, Esther Perez Ruiz

Label
Demand Patterns in France, Germany, and Belgium :, Can We Explain the Differences?, Igor Lebrun, Esther Perez Ruiz
Language
eng
Abstract
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
Bibliography note
Includes bibliographical references
resource.governmentPublication
international or intergovernmental publication
Literary Form
non fiction
Main title
Demand Patterns in France, Germany, and Belgium :
Nature of contents
dictionaries
Responsibility statement
Igor Lebrun, Esther Perez Ruiz
Series statement
IMF Working Papers
Sub title
Can We Explain the Differences?
Table Of Contents
Cover; Contents; I. INTRODUCTION; II. DEMAND PATTERNS IN FRANCE, GERMANY, AND BELGIUM; III. PRIORS AND DATA REQUIREMENTS; A. Estimation Methodology and Priors; B. Data and Measurement Issues; IV. RESULTS; A. Private Consumption; B. Non-residential Business Investment; C. Exports; D. Demand Patterns in France, Germany, and Belgium: Are They Different?; V. CONCLUDING REMARKS; VI. REFERENCES
Classification
Content