Please use this identifier to cite or link to this item: http://hdl.handle.net/10316/87810
Title: Portugal in the Eurozone: Evolution and Expectations
Authors: Bação, Pedro 
Cerdeira, Sara
Duarte, António Manuel Portugal 
Keywords: Development, Euro, European Union, Macroeconomic expectations, Portugal
Issue Date: 13-Nov-2019
Series/Report no.: CeBER Working Paper 2019-07;
Place of publication or event: https://www.uc.pt/en/uid/ceber/working-paper?key=9833b69f
Abstract: At the time of joining the European Economic Community (precursor to the European Union) and the Eurozone, Portuguese agents were very optimistic about the level of development that the country would be able to achieve as a result of being a member of those economic areas. In this paper we describe the changes occurred in the Portuguese economy since joining the European Union and later the Eurozone. In addition, we provide estimates of the evolution of the expectations of Portuguese agents with respect to long-term real per capita GDP, based on a simple intertemporal macroeconomic model. Over the period under analysis, there was an impressive progress in standards of living. Before joining the euro, Portuguese agents were optimistic about long-term income. Expectations remained high until the onset of the debt crisis, at which time expectations collapsed. A slow recovery is visible in our estimates for the most recent years.
URI: http://hdl.handle.net/10316/87810
Rights: openAccess
Appears in Collections:I&D CeBER - Working Papers

Files in This Item:
File Description SizeFormat
wp-ceber-2019-7.pdf735.97 kBAdobe PDFView/Open
Show full item record

Page view(s)

105
checked on May 21, 2020

Download(s)

25
checked on May 21, 2020

Google ScholarTM

Check


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.