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A Strategy for Launching the Euro
Obstfeld, Maurice - C.E.P.R. Discussion Papers - 1997
conversion rates between the euro and the currencies of EMU members states. Current EU legislation, notably the Maastricht Treaty … prices of EMU member currencies against the euro. Unfortunately, most of these have potentially damaging side effects. One … approach, based on official Stage 2 offers of contingent euro forward contracts with value dates at the start of Stage 3 …
Persistent link: https://www.econbiz.de/10005789076
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Tracking the Euro
Koen, Vincent; Boone, Laurence; Serres, Alain de; … - Economics Department, Organisation de Coopération et … - 2001
During the first two years of monetary union, the euro's weakness surprised most market participants. Explanations … empirical analysis showing that terms-of-trade and saving/investment behaviour seem to have driven the euro exchange rate over … view that towards the end of 2000, the euro was significantly undervalued ...<BR><P>Pendant les deux premières années de l …
Persistent link: https://www.econbiz.de/10005045928
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The Economics of Climate Change
Stern, Nicholas - In: American Economic Review 98 (2008) 2, pp. 1-37
Persistent link: https://www.econbiz.de/10005757111
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The Triffin dilemma again
Campanella, Edoardo - 2010
Tiny changes in the American monetary policy can have dramatic effects on the rest of the world because of dollar's double role of national and international currency. This is the Triffin dilemma. The paper shows how it works through three examples: price of commodities, dollarization, and the...
Persistent link: https://www.econbiz.de/10008648332
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Macroeconomic considerations and motives of sovereign wealth funds activity
Urban, Dariusz - In: Contemporary economics 5 (2011) 2, pp. 42-53
Sovereign wealth funds are entities regarded as an institutional innovation in the international financial market. Due to the nature of the ownership rights, the investment activity of such entities is still highly controversial. Objections against sovereign wealth funds included the alleged...
Persistent link: https://www.econbiz.de/10009244102
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The conduct of monetary policy in the future : instrument use
Inaba, Kei-Ichiro; O'Farrell, Rory; Rawdanowicz, Łukasz; … - 2015
The set of monetary policy instruments has expanded since the start of the global financial crisis in the many OECD economies. Against this background, this paper analyses whether some of the new instruments should be retained in the long term when broader financial stability objectives are...
Persistent link: https://www.econbiz.de/10011392833
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Europäische Bankenunion
Breuss, Fritz - In: Vierteljahrshefte zur Wirtschaftsforschung 82 (2013) 2, pp. 127-147
The ongoing Euro crisis and the worse economic development in Europe compared to that in the United States is grounded …
Persistent link: https://www.econbiz.de/10011285699
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Stabilität und institutionelles Design einer nichtoptimalen Währungsunion : spieltheoretische Bedingungen für eine Lösung der Euro-Krise
Vöpel, Henning - In: Vierteljahrshefte zur Wirtschaftsforschung 82 (2013) 2, pp. 61-75
Die beiden zentralen Ursachen der Euro-Krise liegen in einem fehlenden Ausgleichsmechanismus zur Absorption … Eurozone. Die bisherigen Antworten der Politik vermochten die Euro-Krise bislang nicht zu beenden. Der vorliegende Artikel …The causes for the Euro crisis are lying in a missing adjustment mechanism in order to absorb asymmetric shocks and in …
Persistent link: https://www.econbiz.de/10011285712
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Central Bank Digital Currencies and payments: A review of domestic and international implications
Demmou, Lilas - 2021
Recent technological developments linked to secure messaging and traceability present an opportunity to address certain challenges in international and domestic payment systems. From an international perspective, foreign exchange markets remain costly and relatively less efficient than domestic...
Persistent link: https://www.econbiz.de/10012512098
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Policy Pre-Commitment and Institutional Design : A Synthetic Indicator Applied to Currency Boards
Camilleri Gilson, Marie-Thérèse - 2002
Currency boards have been portrayed as an extreme way of creating currency quality and improving monetary policy credibility in emerging market economies. Yet the link between currency board operations and credibility is far from obvious. Indeed, under the heading of currency boards, there is in...
Persistent link: https://www.econbiz.de/10012444091