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Monetary and fiscal policy design under EMU: a dynamic game approach

Aarle, Bas van (contributor) - 2000

This paper analyses the problem of designing macroeconomic stabilization policies within the European Monetary Union (EMU) as a dynamic game between a centralized monetary authority, the European Central Bank (ECB), and national fiscal policy makers. Non-cooperative feedback Nash equilibrium and...

Persistent link: https://www.econbiz.de/10001473958

One size must fit all national devergences in a monetary union

Gros, Daniel; Hefeker, Carsten - 2000

decisions on the EU-wide average of inflation and growth or should it instead focus on (appropriately weighted) national rates …

Persistent link: https://www.econbiz.de/10001524212

Who needs foreign banks?

Gros, Daniel - 2003

10 countries from Central and Eastern Europe (CEEC) that will join the EU 2004/7 the banking system is now dominated by …

Persistent link: https://www.econbiz.de/10001807083

Transatlantic monetary and fiscal policy interaction

Aarle, Bas van; Garretsen, Harry; Huart, Florence - 2003

This paper studies the design, effects and interactions of monetary and fiscal policies in the euro-area and between the euro-area and the non euro-area. To do so, a stylized three-country model of monetary and fiscal policy rules is constructed. It is analyzed how monetary and fiscal rules...

Persistent link: https://www.econbiz.de/10001807127

September 11th and the option value of waiting

Belke, Ansgar; Gros, Daniel - 2003

Persistent link: https://www.econbiz.de/10001780964

Statements of ECB officials and their effect on the level and volatility of the Euro-Dollar exchange rate

Jansen, David-Jan; Haan, Jakob de - 2003

This paper studies the reaction of the mean and volatility of the euro-dollar exchange rate to statements of ECB officials during the first years of EMU. We focus on statements on monetary policy and the (potential) strength of the euro. We find that the Bundesbank has dominated the news...

Persistent link: https://www.econbiz.de/10001753630

Asymmetries in the Trans-Atlantic monetary policy relationship : does the ECB follow the Fed? ; presented at CESifo Area Conference on Macro, Money and International Finance, February 2005

Belke, Ansgar; Gros, Daniel - 2005

The belief that the ECB follows the US Federal Reserve in setting its policy is so entrenched with market participants and commentators that the search for empirical support would seem to be a trivial task. However, this is not the case. We find that the ECB is indeed often influenced by the...

Persistent link: https://www.econbiz.de/10002658281

Asymmetric monetary transmission in EMU : the robustness of VAR conclusions and Cecchetti's legal family theory

Elbourne, Adam; Haan, Jakob de - 2004

We review studies on monetary transmission in the EU countries using the VAR approach and analyse why they often lead … to divergent outcomes. Firstly, we estimate 43 VAR models across ten EU countries and compare the robustness of the …

Persistent link: https://www.econbiz.de/10002521453

MERCOSUR-European Union Trade : how important is EU trade liberalisation for MERCOSUR's exports?

Martínez-Zarzoso, Inmaculada (contributor); … - 2004 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10002166923

Turkey and the Ankara treaty of 1963 : what can trade integration do for Turkish exports?

Nowak-Lehmann D., Felicitas; Herzer, Dierk; … - 2005

This paper investigates the trade effects of Turkey’s trade integration into the EU. To this end sectoral trade flows … to the EU based on panel data from the period 1988 to 2002 are examined concentrating on Turkey's sixteen most important … export sectors. Emphasis is placed on the role of price competition, EU protection, and transport costs in the export trade …

Persistent link: https://www.econbiz.de/10002846553