Showing 1 - 10 of 11
, Eurozone societies. A review of EMU's origins and first years of EMU would thus be remiss without national case studies. France …
Persistent link: https://www.econbiz.de/10010669632
This paper explores the dominant role of politics in decisions made by euro area governments during the crisis. Decisions that appear to have been driven by local political considerations to the detriment of the euro area as a whole are discussed. The domination of politics over economics has...
Persistent link: https://www.econbiz.de/10010959299
European monetary history prior to 1950 presents many attempts at international monetary coordination, but none were as bold and as far reaching as the European Monetary Union envisioned in the Delors Report of 1989 and enacted through the 1991 Treaty on the European Union in Maastricht. This...
Persistent link: https://www.econbiz.de/10010669631
Widespread concern over real effects of EMU is consistent with new Keynesian approaches to macroeconomic fluctuations, but more difficult to reconcile with a real business cycle (RBC) paradigm. Using a model with frictions as a point of departure, I speculate that nominal price rigidity in...
Persistent link: https://www.econbiz.de/10005123924
When does trade become a one-way relationship? We study bilateral trade balances for a sample of 18 European countries over the period from 1948 through 2008. We find that, with the introduction of the euro, trade imbalances among euro area members widened considerably, even after allowing for...
Persistent link: https://www.econbiz.de/10010738071
Eurozone members are supposedly constrained by the fiscal caps of the Stability and Growth Pact. Yet ever since the …. We find that governments’ forecasts are biased in the optimistic direction, especially during booms. Eurozone governments … among eurozone countries that have adopted certain rules at the national level, particularly creating an independent fiscal …
Persistent link: https://www.econbiz.de/10010992924
The issue of whether the UK should join the European single currency has been fiercely debated for the past two decades. However little research has been devoted to forecasting hypothetical projections for important UK economic variables, assuming that the UK had in fact joined the euro at its...
Persistent link: https://www.econbiz.de/10010865274
EMU's design is seriously flawed. Monetary union was established without political union, creating a single eurozone …. Its exceptionally independent central bank, the ECB, sets monetary policy for the eurozone economy as a whole, but it has … no institutions for setting a eurozone-wide fiscal policy, and hence no democratically accountable structure for setting …
Persistent link: https://www.econbiz.de/10010669620
Purpose – This study aims to statistically investigate the place of the eurozone countries in the framework of the … eventual discrepancies in the performing of the eurozone from the most advanced non-eurozone countries by the weaknesses of … some eurozone members. The discriminant analysis as an investigation tool has been chosen as an as unbiased as possible …
Persistent link: https://www.econbiz.de/10010684932
joining the Eurozone are presented with special emphasis on the Polish perspective. The need for fiscal reforms and concerns … regarding Eurozone institutions are addressed. …
Persistent link: https://www.econbiz.de/10010593849