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001-es BibID:	BIBFORM133402
035-os BibID:	(WoS)001611070900001
Első szerző:	Czeglédi Pál (közgazdász)
Cím:	Should the UK have joined the Euro while in the EU? New evidence using the synthetic control and synthetic difference-in-differences methods / Pál Czeglédi, Judit Kapás
Dátum:	2025
ISSN:	1120-2890 1973-820X
Megjegyzések:	The question of whether the euro promotes development in adopting countries remains open, with the answer likely varying across cases. Taking the UK as an example, this paper investigates whether the UK would have had a higher per capita GDP had it adopted the European currency in 1999. The study utilizes two conceptual frameworks derived from the literature, which offer potentially opposing predictions regarding the euro`s impact on economic development. To estimate the causal treatment effect of the UK`s policy of not adopting the euro, two contemporary methods for counterfactual analysis are applied: the Synthetic Control and the Synthetic Difference-in-Differences methods. While the results from both methods indicate that the UK would not have benefited from higher per capita income had it joined the euro, neither would it have suffered from a lower per capita income. The findings are cross-validated and demonstrated to be robust to changes in methodology, predictor selection, the donor pool, and the introduction of a placebo treatment year.
Tárgyszavak:	Társadalomtudományok Közgazdaságtudományok idegen nyelvű folyóiratközlemény külföldi lapban folyóiratcikk Euro United Kingdom Synthetic control method Synthetic difference-in-differences
Megjelenés:	Economia Politica. - [Epub ahead of print] (2025), p. 1-35. -
További szerzők:	Kapás Judit (1962-) (közgazdász)
Internet cím:	Szerző által megadott URL DOI Intézményi repozitóriumban (DEA) tárolt változat
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001-es BibID:	BIBFORM074587
Első szerző:	Czeglédi Pál (közgazdász)
Cím:	Institutions and policies of economic freedom: different effects on income and growth / Kapás Judit, Czeglédi Pál
Dátum:	2017
ISSN:	1120-2890 1973-820X
Megjegyzések:	The aim of this paper is to provide some additional results concerning how economic freedom enhances growth and/or long-run income. Our hypothesis is that institutions and policies of economic freedom may have different effects on long-run income and growth, both in terms of their size and working mechanisms. To test our hypothesis, we apply both Acemoglu et al.'s (Am Econ Rev 91(5):1369?401, 2001) and Mankiw et al.'s (Q J Econ 107(2):407?437, 1992) modeling strategies in our cross-country regression analyses. The major finding is that the institutions of economic freedom are of primary importance in economic development: they matter both in the long run and during the catching up period, and have both direct and indirect effects. On the other hand, the effects of economic freedom policies (monetary and fiscal) matter only during the catching up period, with the fiscal policy having a more straightforward effect. Furthermore, the estimates from the two modeling strategies are in line with each other, which can be seen as a further corroboration of our results.
Tárgyszavak:	Társadalomtudományok Közgazdaságtudományok idegen nyelvű folyóiratközlemény külföldi lapban Economic freedom Institutions Economic policy Growth Long-run income
Megjelenés:	Economia Politica. - 34 : 2 (2017), p. 259-282. -
További szerzők:	Kapás Judit (1962-) (közgazdász)
Internet cím:	Szerző által megadott URL DOI Intézményi repozitóriumban (DEA) tárolt változat
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