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The euro debt crisis and Germany's euro trilemma

Bibow, Jörg - 2012

This paper investigates the causes behind the euro debt crisis, particularly Germany's role in it. It is argued that … the euro's survival. The crisis in Euroland poses a global too big to fail threat, and presents a moral hazard of perhaps …

Persistent link: https://www.econbiz.de/10010318656

Germany and the euroland crisis: The making of a vulnerable haven

Bibow, Jörg - 2013

depressed euro that boosted German extra-area exports. But the crisis that started in Euroland's so-called periphery has … meanwhile reached the core. With pro-euro sentiments dwindling fast across the European Union (EU), the future of the euro … turn out to be a double-edged sword. In case of a euro breakup, swift appreciation of the new deutschmark would abruptly …

Persistent link: https://www.econbiz.de/10010318667

The euro and its guardian of stability: The fiction and reality of the 10th anniversary blast

Bibow, Jörg - 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/10010281711

Twenty years of the German euro are more than enough

Bibow, Jörg - 2018

This paper reviews the performance of the euro area since the euro's launch 20 years ago. It argues that the euro … crisis has exposed existential flaws in the euro regime. Intra-area divergences and the corresponding buildup of imbalances … unemployment continue to plague euro crisis countries. Its huge current account surplus highlights that the euro currency union …

Persistent link: https://www.econbiz.de/10012142958

The international monetary (non-)order and the global capital flows paradox

Bibow, Jörg - 2008

This paper sets out to investigate the forces behind the so-called "global capital flows paradox" and related "dollar glut" observed in the era of advancing financial globalization. The supposed paradox is that the developing world has increasingly come to pursue policies that result in current...

Persistent link: https://www.econbiz.de/10010266438

Empirical evidence on jumps and large fluctuations in individual stocks

Doung, Diep; Swanson, Norman - 2011

We make use of the extant testing methodology of Barndorff-Nielsen and Shephard (2006) and Aït-Sahalia and Jacod (2009a,b,c) to examine the importance of jumps, and in particular large and small jumps, using high frequency price returns on 25 stocks in the DOW 30 and S&P futures index. In...

Persistent link: https://www.econbiz.de/10010282828

Diffusion index models and index proxies: Recent results and new directions

Armah, Nii Ayi; Swanson, Norman - 2011

Diffusion index models have received considerable attention from both theoreticians and empirical econometricians in recent years. One reason for this is that datasets with many variables are increasingly becoming available and being utilized for economic modelling, and another is that common...

Persistent link: https://www.econbiz.de/10010282837

Some variables are more worthy than others: New diffusion index evidence on the monitoring of key economic indicators

Armah, Nii Ayi; Swanson, Norman - 2011

Central banks regularly monitor select financial and macroeconomic variables in order to obtain early indication of the impact of monetary policies. This practice is discussed on the Federal Reserve Bank of New York website, for example, where one particular set of macroeconomic indicators is...

Persistent link: https://www.econbiz.de/10010282848