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Portugal and the competitive disinflation: let the data speak

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  • Corrado Andini

    (University of Madeira, CEEAplA & IZA)

Abstract

This paper provides an empirical evaluation of the three main arguments proposed by Blanchard (2007) in a recent article on the evolution of the Portuguese economy during the last decade, with special regard to the dynamics of international trade and unemployment. Our time-series evidence supports two out of the three arguments.

Suggested Citation

  • Corrado Andini, 2008. "Portugal and the competitive disinflation: let the data speak," Economics Bulletin, AccessEcon, vol. 6(25), pages 1-11.
    • Handle: RePEc:ebl:ecbull:eb-08f40022
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    File URL: http://www.accessecon.com/pubs/EB/2008/Volume6/EB-08F40022A.pdf
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    References listed on IDEAS

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    1. Pesaran, H. Hashem & Shin, Yongcheol, 1998. "Generalized impulse response analysis in linear multivariate models," Economics Letters, Elsevier, vol. 58(1), pages 17-29, January.
    2. Aurora A. C. Teixeira & Natércia Fortuna, 2004. "Human capital, innovation capability and economic growth in Portugal, 1960-2001," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 3(3), pages 205-225, December.
    3. Aurora Teixeira & Natércia Fortuna, 2003. "Human Capital, Innovation Capability and Economic Growth," FEP Working Papers 131, Universidade do Porto, Faculdade de Economia do Porto.
    4. Olivier Blanchard & Francesco Giavazzi, 2002. "Current Account Deficits in the Euro Area: The End of the Feldstein Horioka Puzzle?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 33(2), pages 147-210.
    5. Olivier Blanchard, 2007. "Adjustment within the euro. The difficult case of Portugal," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 6(1), pages 1-21, April.
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    Cited by:

    1. Andini, Corrado & Cabral, Ricardo & Santos, José Eusébio, 2019. "The macroeconomic impact of renewable electricity power generation projects," Renewable Energy, Elsevier, vol. 131(C), pages 1047-1059.
    2. Ricardo Cabral & Francisco Louçã, 2019. "The euro at twenty: Follies of youth?," Revista de Economía Crítica, Asociación de Economía Crítica, vol. 27, pages 59-69.
    3. Andini, Corrado & Cabral, Ricardo, 2012. "Further Austerity and Wage Cuts Will Worsen the Euro Crisis," IZA Policy Papers 37, Institute of Labor Economics (IZA).

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    JEL classification:

    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance

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