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the euro's internationalization on financial markets, and presents data on the impact of the single currency on private … credit. It considers recent work on the effect of the euro on financial integration and the implications of the euro's rising … internationalization on the liquidity premium. Then it turns to the vehicle currency role of the euro and presents some results using new …
Persistent link: https://www.econbiz.de/10008459250
Study on sovereign bond market integration and the role of the euro, trading platforms and globalisation. We … gradually in the course of the last 15 years in EMU countries, as well as the UK, the US and the German Lander. The euro, as … attributed to electronic trading platforms becoming functional. The change-over from national currencies to the euro can not …
Persistent link: https://www.econbiz.de/10008577459
We investigate the impact of EMU on macroeconomic volatility. The volatilities of inflation and nominal interest rates have declined, as has, more importantly, the volatility of real consumption growth. Since global volatility has fallen for reasons unrelated to EMU (the “great...
Persistent link: https://www.econbiz.de/10008577483
The paper examines the implications of EMU for world macroeconomic and financial stability, distinguishing EMU effects from other global factors at work. It concludes that EMU is having on the whole stabilising effects on the world economy, particularly in neighbouring regions.
Persistent link: https://www.econbiz.de/10008459226
This study of approximately 170 publications shows (a) that US academic economists concentrated on the question "Is the EMU a good or bad thing?", usually adopting the paradigm of optimum currency areas as their main analytical vehicle, (b) that they displayed considerable scepticism towards the...
Persistent link: https://www.econbiz.de/10008516237
We study the impact of the introduction of the European Monetary Union on inflation uncertainty. Two groups of economies, one consisting of three European Union members which are not part of the EMU and one of six OECD member economies, are used as control groups to contrast the effects of...
Persistent link: https://www.econbiz.de/10008595789
The failure of key EU Member States to respect the requirements of the Stability and Growth Pact (SGP) a few years after its inception triggered a heated debate on how to reform the framework of fiscal policy coordination in the Economic and Monetary Union (EMU). This paper systematically...
Persistent link: https://www.econbiz.de/10008595783
This paper discusses an approach to estimate euro area GDP quarterly growth over two quarters ahead. The estimates are … euro area and the US. The euro area opinion survey variables are the present business situation in the retail sector and … spread between the euro area and the US. Second, the real effective exchange rate is an indication of the competitive …
Persistent link: https://www.econbiz.de/10008595794
This study addresses and evaluates the impacts of the introduction of the euro on both actual and potential output and … euro is undertaken, with comparisons drawn between countries that are EMU members and non-EMU members. There are several … channels through which the euro may have affected growth and employment: greater transparency and its impact on competitiveness …
Persistent link: https://www.econbiz.de/10008577451
The introduction of the euro as a currency in physical existence in January 2002 was a major step in the European … countries in the euro area view the effects of the euro five years after its introduction. The empirical analysis uses … September 2006. The first question asked if the adoption of the euro was advantageous overall or not. The second one asked if …
Persistent link: https://www.econbiz.de/10008577453