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The sustainability of public finances and fiscal policy coordination in the EMU

Hagen, Jürgen von - 2010

The financial crisis of 2007-2009 led to a renewed increase in government deficits and debts in many EU countries … the internal market of the EU. This would increase the wedge between members and non-members of the euro area …

Persistent link: https://www.econbiz.de/10008664982

Does anonymity matter in electronic limit order markets?

Foucault, Thierry; Moinas, Sophie; Theissen, Erik - 2004 - This Draft: May, 2004

We develop a model of limit order trading in which some traders have better information on future price volatility. As limit orders have option-like features, this information is valuable for limit order traders. We solve for informed and uninformed limit order traders' bidding strategies in...

Persistent link: https://www.econbiz.de/10010361995

Sovereign risk premiums in the European Government bond market

Bernoth, Kerstin; Hagen, Jürgen von; Schuknecht, Ludger - 2006

This paper provides a study of bond yield differentials among EU government bonds issued between 1993 and 2005 on the … by EU countries and Germany or the USA contain risk premiums which increase with fiscal imbalances and depend negatively …

Persistent link: https://www.econbiz.de/10010365887

The design of fiscal rules and forms of governance in European Union countries

Hallerberg, Mark; Strauch, Rolf; Hagen, Jürgen von - 2006

procedures in EU countries on public finances. It briefly describes the main pattern of budgetary institutions and their … determinants across the EU 15 member states. Empirical evidence for the time period 1985-2004 suggests that the centralisation of …

Persistent link: https://www.econbiz.de/10010343939

What do deficits tell us about debt? : empirical evidence on creative accounting with fiscal rules in the EU

Hagen, Jürgen von; Wolff, Guntram B. - 2006

Fiscal rules, such as the Excessive Deficit Procedure and the Stability and Growth Pact (SGP), aim at constraining government behavior. Milesi-Ferretti (2003) develops a model in which governments circumvent such rules by reverting to creative accounting. The amount of this depends on the...

Persistent link: https://www.econbiz.de/10010366529

An economic approach to Article 82 : report by the European Advisory Group on Competition Policy

Gual i Solé, Jordi; Hellwig, Martin; Perrot, Anne; … - 2005

This report argues in favour of an economics-based approach to Article 82, in a way similar to the reform of Article 81 and merger control. In particular, we support an effects-based rather than a form-based approach to competition policy. Such an approach focuses on the presence of...

Persistent link: https://www.econbiz.de/10010366559

Fiscal rules and fiscal performance in the EU and Japan

Hagen, Jürgen von - 2006

such rules in Japan and in the EU. Comparing the performance of fiscal policy in the 1980s and 1990s until 2003, we find … rule of the Maastricht Treaty had a significant impact on political budget cycles in the EU, but did little to constrain … fiscal rule in the EU has vanished. Next, we discuss the importance of budgetary institutions for the effectiveness of fiscal …

Persistent link: https://www.econbiz.de/10010374865

Sustainable regimes of capital movements in accession countries

Begg, David K. H.; Eichengreen, Barry; Halpern, László; … - 2003

Persistent link: https://www.econbiz.de/10001745572

A dynamic approach to Europe's unemployment problem : policy report

Burgess, Simon M.; Garrett, Patrick - 2005

Persistent link: https://www.econbiz.de/10002916787

Fiscal sustainability and policy implications for the euro area

Balassone, Fabrizio; Cunha, Jorge Correia da; Langenus, … - 2009

critically assess the widely used projections of the Working Group on Ageing Populations (AWG) of the EU's Economic Policy …

Persistent link: https://www.econbiz.de/10011597068