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Self-fulfilling crises in the Eurozone : an empirical test
De Grauwe, Paul; Ji, Yuemei - 2012
Persistent link: https://www.econbiz.de/10009575314
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The interest rate pass-through in the euro area during the sovereign debt crisis
Borstel, Julia von; Eickmeier, Sandra; Krippner, Leo - 2015
Persistent link: https://www.econbiz.de/10011342420
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Has the financial crisis eroded citizens’ trust in the European Central Bank? : panel data evidence for the euro area ; 1999-2011
Roth, Felix; Gros, Daniel; Nowak-Lehmann D., Felicitas - 2012 - Revised Version: March 2012
In the aftermath of the financial crisis trust, in the European Central Bank (ECB) has reached an historical low. Taking panel data and using a fixed effects DFGLS estimation for a 12–country sample over the time period 1999 to 2011 with a total of 312 observations, this paper detects a...
Persistent link: https://www.econbiz.de/10009711914
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What's in a second opinion? : shadowing the ECB and the Bank of England
Neuenkirch, Matthias; Siklos, Pierre L. - 2013
Persistent link: https://www.econbiz.de/10009788857
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Has the financial crisis eroded citizens' trust in the European Central Bank? : evidence from 1999-2010
Roth, Felix; Gros, Daniel; Nowak-Lehmann D., Felicitas - 2011
Trust in the ECB has fallen to unprecedented lows in the aftermath of the financial crisis. Up to the start of the recession in 2008, trust levels in the ECB were moderately high and trust in the ECB was not affected by business cycle variables such as growth and inflation. This changed...
Persistent link: https://www.econbiz.de/10009126422
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The Positive Border Effect of EU Integration
Brakman, Steven - 2011
, regions, or countries. The enlargement of the EU or the introduction of the euro, however, can be looked upon as integration … that go along with EU integration along the border. Both at the urban and regional level, we find a beneficial influence of … the EU integration process as measured by the growth in population share along the integration borders, leading to an …
Persistent link: https://www.econbiz.de/10013130414
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Reflections on Cluster Policies
Brakman, Steven - 2012
Economic activity tends to cluster. This results in productivity gains. For policy makers this offers an opportunity to formulate and promote policies that foster clustering of economic activity. Paradoxically, although agglomeration rents are often found in empirical research a rationale for...
Persistent link: https://www.econbiz.de/10013098963
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Self-Fulfilling Crises in the Eurozone : An Empirical Test
De Grauwe, Paul - 2013
We test the hypothesis that the government bond markets in the Eurozone are more fragile and more susceptible to self-fulfilling liquidity crises than in stand-alone countries. We find evidence that a significant part of the surge in the spreads of the PIGS countries in the Eurozone during...
Persistent link: https://www.econbiz.de/10013090949
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The European Central Bank : Lender of Last Resort in the Government Bond Markets?
De Grauwe, Paul - 2013
The sovereign debt crisis has made it clear that central banking is more than keeping inflation low. Central banks are also responsible for financial stability. An essential tool in maintaining financial stability is provided by the capacity of the central bank to be the lender of last resort in...
Persistent link: https://www.econbiz.de/10013092424
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A Fragile Eurozone in Search of a Better Governance
De Grauwe, Paul - 2013
When entering a monetary union, member-countries change the nature of their sovereign debt in a fundamental way (e.g., they cease to have control over the currency in which their debt is issued). As a result, financial markets can force these countries' sovereigns into default. In this sense,...
Persistent link: https://www.econbiz.de/10013092900