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Åslund, Anders - 2009

eminently. The euro has proven credible both in the countries that officially adopted it and in the countries that adopted it … facilitate the accession of willing EU members to the euro by relaxing the ERM II conditions. …

Persistent link: https://www.econbiz.de/10011430838

Fiscal and monetary policy determinants of the Eurozone crisis and its resolution

Dabrowski, Marek - 2012

Unlike the crisis years of 2007-2009 (when the insolvency of large banks was a major problem), the current round of the global financial crisis has fiscal origins. Almost all developed countries suffer from an excessive public debt burden that has been built up over the last two decades or more....

Persistent link: https://www.econbiz.de/10011430901

Economic and political challenges af acceding to the euro zone area: The case of Poland

Woźniak, Przemysław - 2010

The paper examines economic and political challenges of joining the euro area in the case of Poland. After reviewing … the economic developments since the pre-accession period and assessing economic convergence with the euro area the paper … focuses on the political and institutional challenges of acceding to the euro zone. Special attention is given to the effect …

Persistent link: https://www.econbiz.de/10011430847

The day-of-the-week effect revisited: An alternative testing approach

Alt, Raimund; Fortin, Ines; Weinberger, Simon - 2002

This paper questions traditional approaches for testing the day-of-the-week effect on stock returns. We propose an alternative approach based on the closure test principle introduced by Marcus, Peritz and Gabriel (1976), which has become very popular in Biometrics and Medical Statistics. We test...

Persistent link: https://www.econbiz.de/10010292794

Combining forecasts based on multiple encompassing tests in a macroeconomic core system

Costantini, Mauro; Kunst, Robert M. - 2009

We investigate whether and to what extent multiple encompassing tests may help determine weights for forecast averaging in a standard vector autoregressive setting. To this end we consider a new test-based procedure, which assigns non-zero weights to candidate models that add information not...

Persistent link: https://www.econbiz.de/10010294025

The global financial crisis: Lessons for European Integration

Dabrowski, Marek - 2009

The purpose of this paper is to analyze the various challenges facing European integration and the EU institutional architecture as result of the global financial crisis. The European integration process is not yet complete, both in terms of its content and geographical coverage. It can be...

Persistent link: https://www.econbiz.de/10011430830

Does the crisis experience call for a new paradigm in monetary policy?

Taylor, John B. - 2010

This paper shows that the monetary policy paradigm that was in place before the financial crisis worked very well and that the crisis occurred only after policy makers deviated from that paradigm. The paper also evaluates monetary policy during the financial crisis by dividing the crisis into...

Persistent link: https://www.econbiz.de/10011430849

Euro zone crisis and EU governance: Tackling a flawed design and inadequate policy arrangements

Daianu, Daniel - 2012

inadequate policy and institutional design. The euro zone crisis is not related to fiscal negligence only; over-borrowing by the …

Persistent link: https://www.econbiz.de/10011430884

The effects of Dollar/Sterling exchange rate volatility of futures markets for coffee and cocoa

Jumah, Adusei; Kunst, Robert M. - 1999

The paper investigates the extent to which the dollar/sterling exchange rate fluctuations affect coffee and cocoa futures prices on the London LIFFE and the New York CSCE by means of multivariate GARCH models - under the assumption that traders in perfectly competitive markets have equal access...

Persistent link: https://www.econbiz.de/10010291928

The bail-out!: Positive political economics of Greek-type crises in the EMU

Fahrholz, Christian; Wojcik, Cezary - 2010

The Greek bail-out was highly controversial. An oft-heard assessment is that i) the bail-out was a mistake, ii) the political haggling over it was irrational and iii) the bail-out will create a moral hazard problem. Contrary to this view, our analysis suggests that, given EMU's present...

Persistent link: https://www.econbiz.de/10011430854