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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; 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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"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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Working Paper 162
Müller, Gernot J.; Enders, Zeno - Oesterreichische Nationalbank - 2010
able to replicate key features of the data prior to and under EMU.We find that the euro has a strong bearing on the …
Persistent link: https://www.econbiz.de/10010727661
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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
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The mutating euro area crisis: is the balance between "sceptics" and "advocates" shifting?
Mongelli, Francesco Paolo - European Central Bank - 2013
The destructive potential of the sovereign debt crisis of the euro area has been slowly abating since last summer, but … euro area, and the other being an erosion of trust in the viability of the euro area itself. Such concerns have led to talk … the crisis or the future of the euro area. While the crisis is a traumatic wake-up call, it is also a catalyst for change …
Persistent link: https://www.econbiz.de/10010688313
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Has the Euro changed the Business Cycle?
Enders, Zeno; Müller, Gernot J. - Oesterreichische Nationalbank - 2010
able to replicate key features of the data prior to and under EMU.We find that the euro has a strong bearing on the …
Persistent link: https://www.econbiz.de/10008568444
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One currency, one price? Euro changeover-related inflation in Estonia
Meriküll, Jaanika; Rõõm, Tairi - European Central Bank - 2014
This paper studies euro changeover-related inflation using disaggregated price level data. The difference …-in-differences approach is used and the control group for the treatment country, Estonia, is built from 12 euro area countries. The Nielsen … overall inflationary effect of euro adoption was modest, the effects were significantly different across various market …
Persistent link: https://www.econbiz.de/10011067230
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The mutating euro area crisis: is the balance between "sceptics" and "advocates" shifting?
Mongelli, Francesco Paolo - European Central Bank - 2013
The destructive potential of the sovereign debt crisis of the euro area has been slowly abating since last summer, but … euro area, and the other being an erosion of trust in the viability of the euro area itself. Such concerns have led to talk … the crisis or the future of the euro area. While the crisis is a traumatic wake-up call, it is also a catalyst for change …
Persistent link: https://www.econbiz.de/10010693504