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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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Towards economic and monetary union : problems and prospects
Gros, Daniel - 1996
Persistent link: https://www.econbiz.de/10000940296
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Who needs foreign banks?
Gros, Daniel - 2003
10 countries from Central and Eastern Europe (CEEC) that will join the EU in 2004/7 the banking system is now dominated …
Persistent link: https://www.econbiz.de/10011508110
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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
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One size must fit all : national divergences 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/10009781604
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The EU self-surplus puzzle : an indication of VAT fraud?
Braml, Martin; Felbermayr, Gabriel - 2019
percent of the global surplus is a trade surplus that the EU has with itself. In this paper, we show that this EU self … within the Euro Area, and is strongest between neighboring countries. Around the 2004 Eastern Enlargement, the EU self … due to measurement error. Rather, a large fraction of the EU's self-surplus puzzle seems related to fraud in value added …
Persistent link: https://www.econbiz.de/10012138841
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What do we really know about the transatlantic current account?
Braml, Martin T.; Felbermayr, Gabriel - 2019
Do the U.S. have a current account surplus or a deficit with the EU? Since 2009, official sources disagree: The U …
Persistent link: https://www.econbiz.de/10012065058
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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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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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The Euro Area's common pool problem revisited : has the Single Supervisory Mechanism ameliorated forbearance and evergreening?
Steinkamp, Sven; Tornell, Aaron; Westermann, Frank - 2017 - Last revision: October 6, 2017
The Single Supervisory Mechanism was introduced to eliminate the common-pool problem and limit uncontrolled lending by national central banks (NCBs). We analyze its effectiveness. Second, we model how, by forbearing and providing refinancing credit, NCBs avoid domestic resolution costs and,...
Persistent link: https://www.econbiz.de/10011723498