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External constraint and financial crises with balance sheet effects

Dai, Meixing - Volkswirtschaftliche Fakultät, … - 2010

This paper investigates the dynamic implications of Krugman’s (1999) model of financial crises with balance-sheet effects, which has a considerable impact on the literature as well as the teaching of international financial crisis. By explicitly taking account of wealth accumulation and...

Persistent link: https://www.econbiz.de/10008529247

Cause and cure of the crisis

Colignatus, Thomas - Volkswirtschaftliche Fakultät, … - 2014

The welfare state was created after 1950 with counterproductive mechanisms and this caused high inflation and high unemployment and stagnating growth by 1970, called stagflation. Since 1970 governments redressed the welfare state but did not succeed in finding workable mechanisms. They rather...

Persistent link: https://www.econbiz.de/10011108214

Are euro area inflation rates misaligned?

Lopez, Claude; Papell, David - Volkswirtschaftliche Fakultät, … - 2010

of the Euro and the 2008 financial crisis. Due to the small size of the estimation sample, we propose a new procedure …We study the behavior of inflation rates among Euro countries. More specifically, we are interested in testing whether … Euro Area inflation, we find strong and lasting evidence of convergence among the inflation rates soon after the …

Persistent link: https://www.econbiz.de/10008805830

The strategy adopted by Romania EURO

Duduiala-Popescu, Lorena - Volkswirtschaftliche Fakultät, … - 2009

reference currency is Euro, not U.S. dollars. The new currency will be a factor of stability which will reduce a lot of trading … losses due to local fluctuations of the dollar against euro. From 1 January 2003, the currency has been established in … relation to EURO. …

Persistent link: https://www.econbiz.de/10005619508

The Euro: The Economic Stabilizer of the Eurozone

Lorca-Susino, Maria - Volkswirtschaftliche Fakultät, … - 2007

their currencies and seigniorage revenues4 in favour of a common currency—the euro—following conversion between the former … national currencies and the euro. …

Persistent link: https://www.econbiz.de/10005621591

Testing for Group-Wise Convergence with an Application to Euro Area Inflation

Lopez, Claude; Papell, David - Volkswirtschaftliche Fakultät, … - 2010

construction. We incorporate this constraint for estimation and generating finite sample critical values. Applying this new … procedure to Euro Area inflation, we find strong evidence of convergence among the inflation rates soon after the implementation …

Persistent link: https://www.econbiz.de/10008596394

The monetary origins of the financial and economic crisis

Landais, Bernard - Volkswirtschaftliche Fakultät, … - 2010

Abstract The monetary policy, especially the American one, can be blamed for the remote role (2002-2004) it played in the creation of the speculative bubble which led to a financial crisis. It also has a part of the responsibility through its restrictive direction during the 2004-2006 period;...

Persistent link: https://www.econbiz.de/10008534293

Qu’attend-on de la finance mondiale après la crise ? Les quatre commandements oubliés

Brack, Estelle; Saidane, Dhafer - Volkswirtschaftliche Fakultät, … - 2010

The recent crisis should not be used to prouve the failure of the entire financial system. Global banking systems are regulated by rules, that have not been applied correctly all over the place. And just one "hole" in the regulatory net is sufficient to make it useless.

Persistent link: https://www.econbiz.de/10008543033

États-Unis,“soupe primitive” de la crise financière

Brack, Estelle - Volkswirtschaftliche Fakultät, … - 2009

It is likely that such a crisis could not be born somewhere else only in the United States. The "current financial disaster" is the fruit of the combination of specific factors in the US, where elements were gathered to catalyse such a crisis, like, someway, some "primal soup" where were...

Persistent link: https://www.econbiz.de/10008543034

Les banques étrangères dans les pays d’Europe Centrale et Orientale : source de vulnérabilité ou facteur de stabilisation

Beuran, Monica; Brack, Estelle - Volkswirtschaftliche Fakultät, … - 2009

We study the impact of foreign banks' presence in Central and Eastern Europe's countries on their economic development and on the financial crisis they went through. We show that, despite a certain vulnerability of the domestic banking systems, the consequences of the opening of the banking...

Persistent link: https://www.econbiz.de/10008543042