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Which fiscal union for the euro area?
Bénassy-Quéré, Agnès; Ragot, Xavier; Wolff, Guntram B. - 2016
The construction of the euro area left aside the question of a fiscal union, but the crisis re-opened the debate. Of the three classical functions of fiscal policy – provision of public goods, redistribution and stabilisation – only the last provides a clear justification for fiscal policy...
Persistent link: https://www.econbiz.de/10011439508
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The structure of financial systems and macroeconomic instability
Gros, Daniel; Lannoo, Karel - In: EIB papers 4 (1999) 1, pp. 61-69
country in the EU. This is due to deeply-rooted structural differences in legal systems, development of markets and …-based forms of financing of investments by enterprises in the EU. Disintermediation, and institutionalisation of savings in … authorities would have reacted to something like the LTCM collapse in the EU is a good way to see the importance of these two …
Persistent link: https://www.econbiz.de/10011499203
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The Eurozone crisis and foreign debt
Gros, Daniel - In: The eurozone crisis : a consensus view of the causes …, (pp. 121-128). 2015
Persistent link: https://www.econbiz.de/10011499204
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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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The effectiveness of the European Central Banks's asset purchase programme
Demertzis, Maria; Wolff, Guntram B. - 2016
The general macroeconomic situation and weak inflation dynamics justified quantitative easing (QE) in the euro area. Doubts have emerged about its effectiveness as inflation has remained weak. However, we do not know where inflation would have been without QE and the still large slack in the...
Persistent link: https://www.econbiz.de/10011509099
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Das europäische Verfahren zur Vermeidung und Korrektur von Leistungsbilanzungleichgewichten
Belke, Ansgar; Gros, Daniel; Schnabl, Gunther - In: Wirtschaftsdienst : Zeitschrift für Wirtschaftspolitik 96 (2016) 8, pp. 548-556
Die Macroeconomic Imbalance Procedure (MIP) ist Bestandteil des Regelwerks, das am 13. Dezember 2011 als sogenanntes "Sixpack" in Reaktion auf die europäische Finanz- und Schuldenkrise in Kraft trat. Die Krise hat gezeigt, dass interne und externe Ungleichgewichte eng miteinander verwoben sind....
Persistent link: https://www.econbiz.de/10011521456
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One size must fit all : national divergences in a monetary union
Gros, Daniel; Hefeker, Carsten - 2000
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
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Mere criticism of the ECB is no solution
Fratzscher, Marcel; Gropp, Reint; Kotz, Hans-Helmut; … - 2015
The eurozone remains in a deep, largely macro-economic crisis. A robust global economy and falling oil prices have supported Europeś economy for some time, but by now it is clear that the eurozone will only be able to pull itself out of this crisis by means of more decisive action. One...
Persistent link: https://www.econbiz.de/10011449399
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Improvement in European labor force participation : do structural reforms or educational expansion drive higher employment and participation rates?
Gros, Daniel - 2019
Employment and labor force participation (LFP) rates have increased throughout Europe since the 1990s, with little interruption from the Great Recession. While many credit labor market reforms for this progress, ongoing educational expansion might actually be more important. This implies that...
Persistent link: https://www.econbiz.de/10011983615
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QE in the euro area : has the PSPP benefited peripheral bonds?
Belke, Ansgar; Gros, Daniel - 2019
The asset purchase programme of the euro area, active between 2015 and 2018, constitutes an interesting special case of Quantitative Easing (QE) because the ECB’s Public Sector Purchase Programme (PSPP) involved the purchase of peripheral euro area government bonds, which were clearly not...
Persistent link: https://www.econbiz.de/10011994801