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The Eurozone crisis is much more than a sovereign debt crisis. It puts into question the whole architecture of economic policy, from monetary policy to macroeconomic surveillance and sanctions. Beyond the short-run urgencies, EU members need to come out with a clear view of what kind of...
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The paper analyses a relationship between monetary aggregate M2 and inflation in a small open economy. The relationship … between monetary expansion and inflation as well as a dynamic of income velocity of money framework in a small open economy … money and tradables inflation in the case of the Czech small open economy is not found. The conclusions presented in the …
Persistent link: https://www.econbiz.de/10005036707
The euro, in spite of having many of the required attributes put forward by the theoretical literature and past experience, has failed to fulfill all the criteria that would enable it to rival the dollar as an international currency. This does not mean that the euro cannot achieve a status...
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One almost no longer speaks about them. Neither in international forums, where sound economic policies essentially mean structural reforms, enhanced competition, trade integration and financial supervision; nor in the public debate, except to assign them objectives which are mainly out of their...
Persistent link: https://www.econbiz.de/10004972588
This paper studies the impact of a broadening of the SDR basket to the Chinese currency on the composition and volatility of the basket. Although, in the past, RMB inclusion would have had negligible impact due to its limited weight, a much more significant impact can be expected in the next...
Persistent link: https://www.econbiz.de/10010933185
As part of discussions on reforming the international monetary system, there has been renewed interest in the Special Drawing Right (SDR). In April 2011, the finance ministers and central bankers of the G20 decided to work on a “criteria-based path to broaden the composition of the SDR”.1 In...
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