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A new two-pillar strategy for the ECB
De Grauwe, Paul; Gros, Daniel - 2009
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
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Europe's new border taxes
Cnossen, Sijbren; Verwaal, Ernst - 2001
Instead of abolishing internal border controls in 1993, the European Union (EU) replaced them with VAT and statistical …, 5 per cent of the value of their intra-EU trade. This figure is probably higher for other EU Member States. Obviously …, the costs constitute a (differentiated) border tax that impedes intra-EU trade. The paper analyses the determinants of the …
Persistent link: https://www.econbiz.de/10011398053
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How should tobacco be taxed in EU-accession countries?
Cnossen, Sijbren - 2001
affectsrevenue, tobacco consumption control, and EU competition. Thispaper examines the arguments and concludes that a …
Persistent link: https://www.econbiz.de/10011399671
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Fiscal rules, financial stability and optimal currency areas
De Grauwe, Paul; Foresti, Pasquale - 2015
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
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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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The long arm of the European VAT, exemplified by the Dutch experience
Bettendorf, Leon; Cnossen, Sijbren - 2014
these design shortcomings, the EU VAT is in danger of becoming an anachronism compared with modern VATs elsewhere. This …
Persistent link: https://www.econbiz.de/10010337520
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Tackling spillovers by taxing corporate income in the European Union at source
Cnossen, Sijbren - 2016 - This version 18 February 2016
This paper surveys and evaluates the corporation tax (CT) systems of the Member States of the European Union on the basis of a comprehensive taxonomy of actual and potential regimes, which have as their base either profits, profits and interest, or economic rents. The current regimes give rise...
Persistent link: https://www.econbiz.de/10011436091
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Monetary policy in EMU when the transmission is asymmetric and uncertain
De Grauwe, Paul; Sénégas, Marc-Alexandre - 2003
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
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Who needs foreign banks?
Gros, Daniel - 2003
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
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Has the Eurozone become bess fragile? : some empirical tests
De Grauwe, Paul; Ji, Yuemei - 2015
In this paper we provide empirical evidence documenting the nature of the Eurozone's fragility. We find that during periods of turmoil, financial markets have tended to impose strong programs of austerity on member countries of the Eurozone. This confirms the evidence we found in a previous...
Persistent link: https://www.econbiz.de/10010472677