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Financial Liberalization and Business Cycles: The Experience of Future EU Member States in the Baltics and Central Eastern Europe

Souza, Lucio Vinhas de - EconWPA - 2004

This paper extends the work of Kaminsky and Schmukler (2003) to the Baltic and Central Eastern European future Member States of the European Union, to test if the same short-run increase in cyclical volatility arising from financial integration is observed in this specific sample of “emerging...

Persistent link: https://www.econbiz.de/10005062709

"EMU and Enlargement: A Review of Policy Issues"

Souza, Lucio Vinhas de; Eden, Holger van; Groot, Albert de - EconWPA - 2001

This report is the final output of the study "Economic and Monetary Union and Enlargement" commissioned by the …

Persistent link: https://www.econbiz.de/10005412620

Leading Indicators of Euroland Business Cycles

Fritsche, Ulrich; Marklein, Felix - EconWPA - 2001

The introduction of a common monetary policy in eleven European countries increased the need for leading indicators for that area. A reliable leading indicator should possess the following properties: (1) The movements in the indicator series should resemble those in the business cycle reference...

Persistent link: https://www.econbiz.de/10005076700

Macroeconomic Policies of the Economic and Monetary Union: Theorectical Underpinnings and Challenges

Arestis, Philip; Sawyer, Malcolm - EconWPA - 2003

decipher the type of economic analysis and macroeconomic policies of the Economic and Monetary Union (EMU) theoretical and … the EMU macroeconomic policies lie in their potential to achieve full employment and low inflation in the euro area. We … conclude that the institutional and policy arrangements surrounding the EMU and the euro are neither adequate for dealing with …

Persistent link: https://www.econbiz.de/10005076715

From Hard Currency Policy to Monetary Union

Handler, Heinz - EconWPA - 2004

changeover in 1999 to EMU and its implications for Austria's economic policy strategy are evaluated. With regard to the critique … that the ECB had no other choice given the credibility gap at the start of EMU and the economic circumstances of the time …

Persistent link: https://www.econbiz.de/10005076802

The role of national central banks within the European System of Central Banks: The example of De Nederlandsche Bank

Wellink, Nout; Chapple, Bryan; Maier, Philipp - EconWPA - 2002

This paper considers the position of national central banks within the ESCB. The funda-mental framework underlying the ESCB is that of a system of central banks in which component institutions are individually and collectively responsible for carrying out vari-ous tasks. Within this framework,...

Persistent link: https://www.econbiz.de/10005076804

Purchasing power parity: an empirical study of three EMU countries

Duarte, António Portugal - EconWPA - 2005

We apply Purchasing Power Parity (PPP) theory to the analysis of long- run equilibrium in the foreign exchange market. We study the case of Portugal vis-à-vis Germany and Spain, and the case of Spain vis-à-vis Germany, in the period 1960-1990. The empirical analysis was based on unit-root...

Persistent link: https://www.econbiz.de/10005124909

Staying Together or Breaking Apart: Policy-Makers’ Endogenous Coalitions Formation in the European Economic and Monetary Union

Bartolomeo, Giovanni Di; Engwerda, Jacob; Plasmans, Joseph - EconWPA - 2003

In this paper, we analyze coordination of macroeconomic stabilization policies within the EMU by focusing, in a dynamic …

Persistent link: https://www.econbiz.de/10005126333

Trade Balance and Exchange-Rate for a Small Open Economy during the EMS: The Hellenic Case 1983:1-1995:12

Theodoros, Stamatopoulos - EconWPA - 2005

We are interested on assessing the effectiveness of the Bank of Greece (BoG) exchange rate policy, to achieve the objective of adjusting balance of payments des-equilibrium, during the period 1983:1-1995:12. The traditional theory of the balance of payments adjustment process through exchange...

Persistent link: https://www.econbiz.de/10005408156

Purchasing power parity: an empirical study of three EMU countries

Duarte, António Portugal - EconWPA - 2005

Persistent link: https://www.econbiz.de/10005408164