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In this paper we address the issue of how transmission uncertainty could affect the choice between a federal monetary policy based on national data and one on aggregated data.We find that the uncertainty about the transmission process increases the need to take into account information about...
Persistent link: https://www.econbiz.de/10011506467
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 rates …
Persistent link: https://www.econbiz.de/10009781604
is robust for alternative specifications. By imposing restrictions on excise levels, EU harmonization of excises in 1987 … and the introduction of a minimum in 1992 exerted a positive impact on the excise level in a number of EU countries. It …
Persistent link: https://www.econbiz.de/10011449634
This paper studies various options to support allowance prices in the EU Emissions Trading System (ETS), such as … adjusting the cap, an auction reserve price, and fixed and variable carbon taxes in addition to EU ETS. We use a dynamic … at the EU Member State level. We find that both a variable carbon tax and an auction reserve price support effective …
Persistent link: https://www.econbiz.de/10011392634
This article studies the likely impact of unconventional gas developments in the U.S. on EU competitiveness. We find …, may soften the adverse competitiveness impact in the EU. …
Persistent link: https://www.econbiz.de/10010422070
In this paper we suggest that Eurozone countries face a policy trade-off among: 1) a common rule imposing co-movements in fiscal policy; 2) financial stability; and 3) financial integration. We provide empirical evidence documenting the existence of such a trade-off in the period characterized...
Persistent link: https://www.econbiz.de/10010533078
Persistent link: https://www.econbiz.de/10012204045
through EU Emission Trading System (EU ETS). Our lessons are, first of all, that a cap-and-trade system like EU ETS is very …. Third, it is far from obvious why EU ETS should cover the entire carbon emissions base if other instruments, like (implicit …) carbon taxes are already available. Finally, EU ETS seems at least partially responsible for the observed steady reduction of …
Persistent link: https://www.econbiz.de/10012206085
Persistent link: https://www.econbiz.de/10012223991