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Central Bankers are currently facing big challenges in designing and implementing monetary policy, as well as with safeguarding financial stability, with the world economy still in the process of digesting the legacy of the crisis. The crisis has changed central banking in many ways: by shifting...
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We analyze the benefits and costs of a non-euro country opting-in to the banking union. The decision to opt-in depends on the comparison between the assessment of the banking union attractiveness and the robustness of a national safety net. The benefits of opting-in are still only potential and...
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Die vorliegende Studie misst den Einfluss ökonomischer Unsicherheit, die durch das EU-Referendum in Großbritannien … unserer Resultate hat die politische Unsicherheit, die direkt auf das EU-Referendum zurückgeführt werden kann, vor und nach …
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This paper examines business cycle synchronization in the European Monetary Union with a special focus on the core-periphery pattern in the aftermath of the crisis. Using a quarterly index for business cycle synchronization by Cerqueira (2013), our panel data estimates suggest that it is...
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This paper identifies and measures fiscal spillovers in the EU countries empirically using a global vector …") innerhalb der EU unter Verwendung eines Globalen Vektorautogressiven Modells ("GVAR"). Der Schätzansatz basiert auf einer … länderspezifischen Modellierung der EU-Mitgliedsstaaten und wichtiger internationaler Handelspartner unter Nutzung der …
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