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"ECB Worries/European Woes: The Economic Consequences of Parochial Policy"
Barbera, Robert J.; Holtham, Gerald - Levy Economics Institute - 2012
Financial market crises with the threat of a subsequent debt-deflation depression have occurred with increasing regularity in the United States from 1980 through the present. Almost reflexively, when confronted with such circumstances, US institutions and the policymakers that run them have...
Persistent link: https://www.econbiz.de/10011141203
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Oil Prices, Exchange Rates and Asset Prices
Fratzscher, Marcel; Schneider, Daniel; Robays, Ine Van - CESifo - 2013
This paper takes a financial market perspective in examining the relationship between oil prices, the US dollar and asset prices, and it exploits the heteroskedasticity for the identification of causality in a multifactor model. It finds a bidirectional causality between the US dollar and oil...
Persistent link: https://www.econbiz.de/10010877722
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Oil prices, exchange rates and asset prices
Fratzscher, Marcel; Schneider, Daniel; Van Robays, Ine - European Central Bank - 2014
This paper takes a financial market perspective in examining the relationship between oil prices, the US dollar and asset prices, and it exploits the heteroskedasticity for the identification of causality in a multifactor model. It finds a bidirectional causality between the US dollar and oil...
Persistent link: https://www.econbiz.de/10011067221
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Nominal and Real Exchange Rate Models in South Africa: How Robust are they?
Egert, Balazs - CESifo - 2012
research seem to be sensitive to the sample period considered, alternative variable definition, data frequency and estimation … monetary model are not fully robust to data frequency and alternative estimation periods, either. Nevertheless, adding openness …
Persistent link: https://www.econbiz.de/10010554826
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The Impact of Yuan Internationalization on the Euro-Dollar Exchange Rate
Benassy-Quere, Agnes; Forouheshfar, Yeganeh - CESifo - 2013
the euro-dollar exchange rate, within a three-country, three-currency portfolio model. Our static model shows that the … euro-dollar rate, whatever the exchange-rate regime of China. Moving to a dynamic, stock-flow framework, we show that the …
Persistent link: https://www.econbiz.de/10010877786
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Is Greece Turning the Corner? A Theory-Based Assessment of Recent Greek Macro-Policy
Arghyrou, Michael G. - CESifo - 2014
We use a macro-theory framework of analysis to assess Greek macro-policy with emphasis on the period of the Greek debt crisis. The latter is mainly the result of misguided past internal policies deviating from the policy lessons of modern macroeconomics. The current policy, however, provides a...
Persistent link: https://www.econbiz.de/10010948838
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"The Euro Debt Crisis and Germany's Euro Trilemma"
Bibow, Jorg - Levy Economics Institute - 2012
This paper investigates the causes behind the euro debt crisis, particularly Germany's role in it. It is argued that … austerity have made the situation worse by adding a growth crisis to the potpourri of internal stresses that threaten the euro …
Persistent link: https://www.econbiz.de/10010548312
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The Eurozone Needs Exit Rules
Fahrholz, Christian; Wójcik, Cezary - CESifo - 2012
This paper argues that the key issue for defining and solving the Eurozone’s (EZ) difficulties lies in readjusting the relationship between the centre and the periphery of the EZ. Our argument proceeds in two steps. Firstly, the basic finance problem of a centre-periphery system is captured by...
Persistent link: https://www.econbiz.de/10010553271
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"The Euro and Its Guardian of Stability--The Fiction and Reality of the 10th Anniversary Blast"
Bibow, Jorg - Levy Economics Institute - 2009
inherited from Germany's mercantilist past and Bundesbank mythology. Steps toward a fiscal union to back the euro are also …
Persistent link: https://www.econbiz.de/10008509462
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Has the Euro affected the choice of invoicing currency?
Ligthart, Jenny E.; Werner, Sebastian E. V. - European Central Bank - 2012
We present a new approach to study empirically the effect of the introduction of the euro on the pattern of currency … invoicing after the introduction of the euro, whereas the home currency share of non-eurozone countries fell slightly. In … addition, the euro as a vehicle currency has overtaken the role of the US dollar in Norwegian imports. The substantial rise in …
Persistent link: https://www.econbiz.de/10010686764