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This paper focuses on the pass-through of exchange rate changes into the prices of imports made by euro area countries … estimate industry-specific rates of pass-through across and within countries for all euro members. In the short-run, pass … of pass-through rates across industries and countries can be rejected. Differences exist across euro area countries in …
Persistent link: https://www.econbiz.de/10004980989
In this article, we explore the demand for the euro for risk management purposes, and the evidence of stock market … integration in the euro area. We define a reserve currency as one that investors demand either because it helps them hedge real … its return is negatively correlated with the returns on those assets. This article re-examines the role of the euro as a …
Persistent link: https://www.econbiz.de/10008464965
States, with attention to the impact that the Euro might have on that process. It is the first time that banking integration … empirical evidence on the determinants of the flow of foreign banking assets across countries of the EU and the Euro area … countries. Finally, evidence is provided indicating that the introduction of the Euro has changed the pace and trend of European …
Persistent link: https://www.econbiz.de/10005022235
additional important characteristic of the EFF is that the second and third waves have a full panel component. Further, a … decision from the European system of central banks to conduct a household wealth survey in all euro area countries following a …
Persistent link: https://www.econbiz.de/10009195319
confidentiality. An additional important characteristic of the EFF is that the second, third, and fourth waves have a panel component …
Persistent link: https://www.econbiz.de/10010940766
additional important characteristic of the EFF is that the second wave has a full panel component. Further, a refreshment sample …
Persistent link: https://www.econbiz.de/10005022308
A simple method to estimate multilateral equilibrium real exchange rates in a cointegration framework is used to compute the equilibrium real exchange rate for the peseta. The stock of foreign assets and the evolution of sectoral prices have been considered to be the fundamentals for the real...
Persistent link: https://www.econbiz.de/10005590662
This paper provides empirical evidence on the effectiveness of movements in nominal exchange rates in smooting cyclical imbalances between countries, as explained by the literature on optimal currency areas.
Persistent link: https://www.econbiz.de/10005590669
As the Spanish economy gets more integrated in international markets, competitiveness becomes a key determinant of the monetary transmission. In this paper we trace out the dynamic response of prices, output and the exchange rate following a monetary policy shock. We estimate a structural VAR...
Persistent link: https://www.econbiz.de/10005590676
Persistent link: https://www.econbiz.de/10005590703