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The EMS : achievements, current issues and directions for the future
Gros, Daniel; Thygesen, Niels - 1988
Persistent link: https://www.econbiz.de/10000033713
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A new two-pillar strategy for the ECB
De Grauwe, Paul; Gros, Daniel - 2009
The ECB has been arguing in the past that since there is no trade-off between price stability and financial stability, the pursuit of price stability is the best a central bank can do to also maintain financial stability. We argue that there is a potential trade-off between price stability and...
Persistent link: https://www.econbiz.de/10003888991
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Alcohol taxation and regulation in the European Union
Cnossen, Sijbren (contributor) - 2006
Persistent link: https://www.econbiz.de/10003379807
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Equity price dynamics before and after the introduction of the euro : a note
Cheung, Yin-Wong; Westermann, Frank - 2001
Daily data from the German and U.S. equity markets before and after the introduction of the Euro are used to study the effect of exchange rate regime choices on equity markets. It is found that, since the introduction of the Euro, the volatility and the persistence of the German stock index have...
Persistent link: https://www.econbiz.de/10011397990
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Europe's new border taxes
Cnossen, Sijbren; Verwaal, Ernst - 2001
Instead of abolishing internal border controls in 1993, the European Union (EU) replaced them with VAT and statistical …, 5 per cent of the value of their intra-EU trade. This figure is probably higher for other EU Member States. Obviously …, the costs constitute a (differentiated) border tax that impedes intra-EU trade. The paper analyses the determinants of the …
Persistent link: https://www.econbiz.de/10011398053
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Why has the Euro been falling?
Sinn, Hans-Werner; Westermann, Frank - 2001
This paper reconsiders the determinants of the exchange rate by studying the historical episode after the fall of the Iron Curtain. Testing a modified portfolio balance model, we attribute the strength of the deutschmark in the early nineties and the puzzling decline of the euro during its...
Persistent link: https://www.econbiz.de/10011398903
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How should tobacco be taxed in EU-accession countries?
Cnossen, Sijbren - 2001
affectsrevenue, tobacco consumption control, and EU competition. Thispaper examines the arguments and concludes that a …
Persistent link: https://www.econbiz.de/10011399671
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Ordoliberalism, pragmatism and the Eurozone crisis : how the German tradition shaped economic policy in Europe
Feld, Lars P.; Köhler, Ekkehard A.; Nientiedt, Daniel - 2015 - This version: May 18, 2015
German policy during the Eurozone crisis supposedly follows an ordoliberal tradition. In this paper, we discuss to what extent this contention holds and to what extent Germany pragmatically responded to different crisis phenomena. A proper analysis of ordoliberal thinking reveals that the...
Persistent link: https://www.econbiz.de/10010528303
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The long arm of the European VAT, exemplified by the Dutch experience
Bettendorf, Leon; Cnossen, Sijbren - 2014
these design shortcomings, the EU VAT is in danger of becoming an anachronism compared with modern VATs elsewhere. This …
Persistent link: https://www.econbiz.de/10010337520
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On creditor seniority and sovereign bond prices in Europe : conference paper
Steinkamp, Sven; Westermann, Frank - 2013
The recent increase of interest rate spreads in Europe and their apparent detachment from underlying fundamental variables has generated a debate on multiple equilibria in the sovereign bond market (see De Grauwe and Ji (2012)). We critically evaluate this hypothesis, by pointing towards an...
Persistent link: https://www.econbiz.de/10010341164