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Fiscal dimensions of central banking : the fiscal vacuum at the heart of the Eurosystem and the fiscal abuse by and of the Fed: part 2
Buiter, Willem H. - In: Quantitative easing : evolution of economic thinking as …, (pp. 135-141). 2016
Persistent link: https://www.econbiz.de/10011498144
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Fiscal dimensions of central banking : the fiscal vacuum at the heart of the Eurosystem and the fiscal abuse by and of the Fed: part 4
Buiter, Willem H. - In: Quantitative easing : evolution of economic thinking as …, (pp. 143-147). 2016
Persistent link: https://www.econbiz.de/10011498145
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Reflections on the Euro Crisis : Prioritizing the Road Ahead
Aizenman, Joshua - 2013
This paper takes stock of the lessons from past crises and the history of other unions to prioritize possible reforms of the euro. The distortions facing the euro include structural challenges in the labor and product markets, and financial distortions. While both structural and financial...
Persistent link: https://www.econbiz.de/10013079827
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The Eurocrisis : Muddling Through, or on the Way to a More Perfect Euro Union?
Aizenman, Joshua - 2014
This paper looks at the short history of the Eurozone through the lens of an evolutionary approach to forming new … institutions. The euro has operated as a currency without a state, under the dominance of Germany. This has so far allowed the euro … to achieve a number of design objectives, and this may continue, as long as Germany does not shirk its growing …
Persistent link: https://www.econbiz.de/10013052139
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The Eurocrisis : Muddling Through, or On the Way to a More Perfect Euro Union?
Aizenman, Joshua - 2014
This paper looks at the short history of the Eurozone through the lens of an evolutionary approach to forming new … institutions. The euro has operated as a currency without a state, under the dominance of Germany. This has so far allowed the euro … to achieve a number of design objectives, and this may continue, as long as Germany does not shirk its growing …
Persistent link: https://www.econbiz.de/10012458424
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Can Central Banks Go Broke?
Buiter, Willem H. - 2014
The paper answers three questions.(1) Does it matter if a central bank suffers a large capital loss? (2) Can the central bank become insolvent? (3) When, how and by whom should the central bank be recapitalised?
Persistent link: https://www.econbiz.de/10013048185
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Developing Countries’ Financial Vulnerability to the Euro Crisis : An Event Study of Equity and Bond Markets
Lee, Minsoo - 2013
. Just a few years after the global crisis, the eurozone sovereign debt crisis has emerged as the single biggest threat to …
Persistent link: https://www.econbiz.de/10013090866
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Developing Countries' Financial Vulnerability to the Euro Crisis : An Event Study of Equity and Bond Markets
Aizenman, Joshua - 2013
. Just a few years after the global crisis, the eurozone sovereign debt crisis has emerged as the single biggest threat to …
Persistent link: https://www.econbiz.de/10013091076
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Transition Issues for the European Monetary Union
Buiter, Willem H.; Sibert, Anne - 2021
If Stage Three of EMU starts on January 1, 1999, transition issues remain on two time scales. Until July 1, 2002, national currencies and the euro co-exist as legal tender. We argue that intra-EMU currency risk exists in principle during that period, but that no EMU member can be forced out...
Persistent link: https://www.econbiz.de/10013240625
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Credit Ratings and the Pricing of Sovereign Debt During the Euro Crisis
Aizenman, Joshua - 2013
This paper investigates the impact of credit rating changes on the sovereign spreads in the European Union and investigates the macro and financial factors that account for the time varying effects of a given credit rating change. We find that changes of ratings are informative, economically...
Persistent link: https://www.econbiz.de/10013080412