Showing 1 - 10 of 41
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
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
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
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
With the creation of the Economic and Monetary Union and the euro, the national government debt of eurozone member …
Persistent link: https://www.econbiz.de/10010786627
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
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
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
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
This paper investigates whether, and if so why, the recent ‘Great Recession’ was more severe in unofficially dollarised/euroised economies than in other economies. To that end, the paper builds on a novel dataset on unofficial dollarisation/euroisation to test whether the latter was a...
Persistent link: https://www.econbiz.de/10010686813