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A Long Term Perspective on the Euro
Bordo, Michael D. - 2008
This study grounds the establishment of EMU and the euro in the context of the history of international monetary cooperation and of monetary unions, above all in the U.S., Germany and Italy. The purpose of national monetary unions was to reduce transactions costs of multiple currencies and...
Persistent link: https://www.econbiz.de/10012772728
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The Rise of Europe : Atlantic Trade, Institutional Change and Economic Growth
Acemoglu, Daron; Johnson, Simon; Robinson, James A. - 2021
This paper documents that the Rise of (Western) Europe between 1500 and 1850 is largely accounted for by the growth of European nations with access to the Atlantic, and especially by those nations that engaged in colonialism and long distance oceanic trade. Moreover, Atlantic ports grew much...
Persistent link: https://www.econbiz.de/10013246977
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On Current Account Surpluses and the Correction of Global Imbalances
Edwards, Sebastian - 2007
realignment of world growth rates -- with Japan and Europe growing faster, and the U.S. growing more slowly -- is likely to solve … a percentage point of GDP. Taken together, these results indicate that a realignment of global growth -- with Japan and …
Persistent link: https://www.econbiz.de/10012777651
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Monetary Policy and Performance in the U.S., Japan and Europe, 1973-86
Fischer, Stanley - 2007
Bundesbank and the Bank of Japan each focus on one money target, described by the Bundesbank as a target, and by the Bank of … Japan as a projection. None of the countries has stuck rigorously to the targets, though the Bank of Japan has come close …Monetary policies in the U.S., Japan, Germany and the United Kingdom over the period 1973-1986 are compared and …
Persistent link: https://www.econbiz.de/10012777224
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Globalization and Monetary Control
Woodford, Michael - 2007
; rather than the supply of liquidity by a national central bank alone; by making real interest rates dependent on the global …
Persistent link: https://www.econbiz.de/10012776195
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FDI, trade integration and the border effect : evidence from the European Union
Martínez-San Román, Valeriano; Bengoa, Marta; … - 2014
This paper intends to combine two fields in the economic literature by examining empirically the FDI pattern - horizontal versus vertica l- within the European Union and the relevance of trade integration as a potential determinant of investment flows over the period 1995-2009. We capture trade...
Persistent link: https://www.econbiz.de/10010371905
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Do trade agreements stimulate international trade differently? : evidence from 296 trade agreements
Kohl, Tristan; Brakman, Steven; Garretsen, Harry - 2013 - This version, April 2013
In a seminal paper, Rose (2004) found that the assumed positive impact of the WTO on international trade was questionable. This finding has been scrutinized and modified in subsequent research, using different datasets, econometric methods and separating the WTO from other forms of trade...
Persistent link: https://www.econbiz.de/10009743775
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Goods and factor market integration : a quantitative assessment of the EU enlargement
Caliendo, Lorenzo; Opromolla, Luca David; Parro, Fernando; … - 2017
The economic effects from labor market integration are crucially affected by the extent to which countries are open to trade. In this paper we build a multi-country dynamic general equilibrium model with trade in goods and labor mobility across countries to study and quantify the economic...
Persistent link: https://www.econbiz.de/10011704526
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Goods and Factor Market Integration : A Quantitative Assessment of the EU Enlargement
Caliendo, Lorenzo - 2017
The economic effects from labor market integration are crucially affected by the extent to which countries are open to trade. In this paper we build a multi-country dynamic general equilibrium model with trade in goods and labor mobility across countries to study and quantify the economic...
Persistent link: https://www.econbiz.de/10012949423
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How free trade can help convert the 'Arab Spring' into permanent peace and democracy
Thorvaldur Gylfason; Martínez, Inmaculada; Wijkman, … - 2012
Since Jean Monnet conceived the Coal and Steel Community, free trade has successfully prevented serious conflicts in Europe between democratically governed States with market economies. After six countries established the European Community, this principle has been extended successfully to its...
Persistent link: https://www.econbiz.de/10009571054