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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

Nominal versus Real Convergence with Respect to EMU Accession - EMU Entry Scenarios for the New Member States

Schnabl, Gunther; Grauwe, Paul De - EconWPA - 2004

This paper explores the conflict of real and monetary convergence during the EMU run-up of the Central and Eastern …

Persistent link: https://www.econbiz.de/10005408181

Bad for Euroland, Worse for Germany-The ECB's Record

Bibow, Jorg - EconWPA - 2005

This paper assesses the contribution of the European Central Bank (ECB) to Germany’s ongoing economic crisis, a vicious circle of decline in which the country has become stuck since the early 1990s. It is argued that the ECB continues the Bundesbank tradition of asymmetric policymaking: the...

Persistent link: https://www.econbiz.de/10005412611