Showing 1 - 10 of 11
The belief that the ECB follows the US Federal Reserve in setting its policy is so entrenched with market participants and commentators that the search for empirical support would seem to be a trivial task. However, this is not the case. We find that the ECB is indeed often influenced by the...
Persistent link: https://www.econbiz.de/10002749782
This report elucidates the risk channels for EU economies associated with international financial integration and …
Persistent link: https://www.econbiz.de/10013248798
This report elucidates the risk channels for EU economies associated with international financial integration and …
Persistent link: https://www.econbiz.de/10013248822
The ECB has been arguing in the past that since there is no trade-off between price stability and financial stability, the pursuit of price stability is the best a central bank can do to also maintain financial stability. We argue that there is a potential trade-off between price stability and...
Persistent link: https://www.econbiz.de/10003888991
This paper reviews the factors that will determine the shape of financial markets under EMU. It argues that financial markets will not be unified by the introduction of the euro. National central banks have a vested interest in preserving local idiosyncracies (e.g. the Wechsels in Germany) and...
Persistent link: https://www.econbiz.de/10009768844
The global financial crisis has lead to a renewed interest in discretionary fiscal stimulus. Advocates of discretionary measures emphasize that government spending can stimulate additional private spending the so-called Keynesian multiplier effect. Thus, we investigate whether the discretionary...
Persistent link: https://www.econbiz.de/10003909359
Persistent link: https://www.econbiz.de/10003448537
10 countries from Central and Eastern Europe (CEEC) that will join the EU in 2004/7 the banking system is now dominated …
Persistent link: https://www.econbiz.de/10011508110
decisions on the EU-wide average of inflation and growth or should it instead focus on (appropriately weighted) national welfare …
Persistent link: https://www.econbiz.de/10011409772
decisions on the EU-wide average of inflation and growth or should it instead focus on (appropriately weighted) national rates …
Persistent link: https://www.econbiz.de/10009781604