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The single European market in banking in decline : ECB to the rescue?
Gros, Daniel - In: Banking union for Europe : risks and challenges, (pp. 41-45). 2012
Persistent link: https://www.econbiz.de/10009696488
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Does money matter in the ECB strategy? : New evidence based on ECB communication
Berger, Helge; Haan, Jakob de; Sturm, Jan-Egbert - 2006
We examine the role of money in the policies of the ECB, using introductory statements of the ECB President at the monthly press conferences during 1999-2004. Over time, the relative amount of words devoted to the monetary analysis has decreased. Our analysis of indicators of the monetary policy...
Persistent link: https://www.econbiz.de/10003270661
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A fiscal rule that has teeth : a suggestion for a "fiscal sustainability council" underpinned by the financial markets
Hedbávný, Petr; Schneider, Ondřej; Zápal, Jan - 2005
the EU’s Stability and Growth Pact, suffer from the same endogeneity flaw. Consequently, we argue that a fiscal rule must …
Persistent link: https://www.econbiz.de/10003007540
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Fiscal policy in new EU member states : go east, prudent man!
Schneider, Ondřej; Zápal, Jan - 2005
The European Union (EU) accepted ten new member states (NMS) in 2004. These countries, mostly former socialist … countries, have had to adjust their economic policies to the EU’s standards. Perhaps most difficult has proven to be fiscal … the time period that immediately preceded their EU accession. We analyse the structure and scale of these countries …
Persistent link: https://www.econbiz.de/10003007663
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Macroeconomic stabilization policies in the EMU : spillovers, asymmetries, and institutions
Di Bartolomeo, Giovanni; Engwerda, Jacob Christiaan; … - 2005
This paper studies the institutional design of the coordination of macroeconomic stabilization policies within a monetary union in the framework of linear quadratic differential games. A central role in the analysis plays the partitioned game approach of the endogenous coalition formation...
Persistent link: https://www.econbiz.de/10002658217
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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, Febru...
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
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Catching-up, inflation differentials and credit booms in a heterogeneous monetary union : some implications for EMU and new EU member states
MacDonald, Ronald; Wójcik, Cezary - 2006
In this paper we propose an alternative explanation for the nature, sources and consequences of inflation rate differentials in a monetary union, such as EMU. To achieve this, we build on the new neoclassical synthesis (NNS) framework, recently advanced by Goodfriend (2002) and Goodfriend and...
Persistent link: https://www.econbiz.de/10003366053
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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
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Using Taylor rules to understand ECB monetary policy
Sauer, Stephan; Sturm, Jan-Egbert - 2003
Over the last decade, the simple instrument policy rule developed by Taylor (1993) has become a popular tool for evaluating monetary policy of central banks. As an extensive empirical analysis of the ECB's past behaviour still seems to be in its infancy, we estimate several instrument policy...
Persistent link: https://www.econbiz.de/10001914014