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Dollar-Euro Exchange Rate 1999-2004: Dollar and Euro as International Currencies

Shams, Rasul - 2005

On January 1,1999 euro became the currency for 11 member states of the European Union. Since then the dollar-euro … exchange rate has completed a full turning. Three years of depreciation of the euro followed by three years of appreciation … without wild fluctuations asks for an explanation which would adequately account for the position of the euro as an emerging …

Persistent link: https://www.econbiz.de/10010295454

Pegs, Baskets, and the Importance of Policy Credibility: Lessons of the 1992-93 ERM Crisis

Volz, Ulrich - 2005

This paper argues that, in contrast to the popular bipolar view on exchange rate choices, intermediate regimes in general and regional exchange rate systems such as the European Monetary System (EMS) in particular should not be ruled out per se even in today's world of highly mobile capital. The...

Persistent link: https://www.econbiz.de/10010295469

An Account of Geographic Concentration Patterns in Europe

Brülhart, Marius; Traeger, Rolf - 2003

Using entropy indices and associated bootstrap tests, we describe the distribution of economic sectors across Western European regions over the 1975-2000 period. We decompose geographic concentration into its within-country and between-country components. In addition, we estimate...

Persistent link: https://www.econbiz.de/10010295328

Spatial dependence of regional unemployment in the European Union

Niebuhr, Annekatrin - 2002

The findings of recent studies on adjustment processes suggest that regional labour markets in the EU and the US differ significantly. Low wage flexibility and limited labour mobility in European countries involve persistent unemployment differentials across regions. However, the spatial...

Persistent link: https://www.econbiz.de/10010295334

Market Access and Regional Disparities: New Economic Geography in Europe

Niebuhr, Annekatrin - 2004

New Economic Geography (NEG) has reached a theoretical consolidation while related empirical tests are still scarce. The present paper aims at providing some evidence on the validity of forces emphasised by NEG. The analysis starts from the nominal wage equation derived from the Krugman...

Persistent link: https://www.econbiz.de/10010295401

Enlargement and the EU Periphery: The Impact of Changing Market Potential

Crozet, Matthieu; Brülhart, Marius; Koenig, Pamina - 2004

We study the impact of changing relative market access in an enlarged EU on the economies of incumbent Objective 1 regions. First, we track the impact of external opening on internal spatial configurations in a three-region economic geography model. External opening gives rise to potentially...

Persistent link: https://www.econbiz.de/10010295402

The Impact of EU Enlargement on European Border Regions

Niebuhr, Annekatrin - 2005

EU enlargement is supposed to entail profound impact on the location of economic activities in Europe. Although there is concern about the implications of enlargement for regional disparities in the EU, corresponding empirical results are still rare. The objective of this analysis is to provide...

Persistent link: https://www.econbiz.de/10010295459

Regional Integration and International Trade in the Context of EU Eastward Enlargement

Paas, Tiiu - 2003

The paper aims to explore international trade flows of the countries involved in the EU eastward enlargement processes – the current EU members (EU15) and the candidate countries (CC12). The empirical results of the study allow us to conclude that the behaviour of bilateral trade flows within...

Persistent link: https://www.econbiz.de/10010295475

Price dividend models, expectations formation, and monetary policy

Valckx, Nico - 2003

inflation risk, extending existing models in this field. The model fits the data well over the period 1979-2002 for the Euro … that Fed policy remained stable, there was not much of attention to asset bubbles. For the Euro Area, historically, the …

Persistent link: https://www.econbiz.de/10010295476

The puzzle of the Swiss interest rate island: Stylized facts and a new interpretation

Kugler, Peter; Weder, Beatrice - 2002

some stylized facts about the nature of the puzzle. First it shows that long run real returns on Swiss Euro Deposits have … puzzle. Two implications follow from these stylized facts: (i) since the puzzle is present in Euro Deposit rates it cannot be … Euro Einlagen deutlich niedriger waren als in anderen Hauptwährungen. Eine Zerlegung der Ertragsunterschiede in …

Persistent link: https://www.econbiz.de/10010295491