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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

Evaluating emission trading as a policy tool : evidence from conditional jump models

Gronwald, Marc; Ketterer, Janina - 2009

This paper, first, empirically investigates European emission allowance (EUA) prices and, second, evaluates emission trading as a policy measure. Applying combined jump GARCH models yields strong evidence of conditional jump behavior. This implies that EUA prices are subject to unexpected...

Persistent link: https://www.econbiz.de/10003854402

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

Discretionary fiscal policy : review and estimates for the EU

Beetsma, Roel; Giuliodori, Massimo - 2010

provide our own estimates for the EU countries. A fiscal expansion raises output and consumption and reduces the trade balance … open EU economies, consistent with larger leakage effects. Further direct estimates suggest that fiscal expansions in large … EU economies have non-negligible consequences for economic activity in the main trading partners. This provides a …

Persistent link: https://www.econbiz.de/10003937804

Pension systems, ageing and the stability and growth pact

Beetsma, Roel (contributor); Oksanen, Heikki (contributor) - 2007

Persistent link: https://www.econbiz.de/10003623944

The dependence structure between carbon emission allowances and financial markets : a copula analysis

Gronwald, Marc; Ketterer, Janina; Trück, Stefan - 2011

This paper applies different copulas in order to investigate the complex dependence structure between EU emission …

Persistent link: https://www.econbiz.de/10009011778

What moves the European carbon market? : insights from conditional jump models

Gronwald, Marc; Ketterer, Janina - 2012

This paper is concerned with carbon price volatility and the underlying causes of large price movements in the European emissions trading market. Based on the application of a combined jump-GARCH model the behavior of EUA prices is characterized. The jump-GARCH model explains the unsteady carbon...

Persistent link: https://www.econbiz.de/10009533967

Is fiscal policy coordination in EMU desirable?

Beetsma, Roel; Debrun, Xavier; Klaassen, Franc - 2001

It is widely argued that Europe's unified monetary policy calls for the international coordination at the fiscal level. We survey the issues involved with such coordination of fiscal policy as a demand management tool and we use a simple model to investigate the circumstances under which...

Persistent link: https://www.econbiz.de/10011400878

Explaining the EUA-CER spread

Gronwald, Marc; Hintermann, Beat - 2016

Because of a link between the EU ETS and the Kyoto Flexible Mechanisms, the emission certificates traded on these … spread using a theoretical model that combines three features: A binding limit for the use of Kyoto offsets within the EU ETS … informational frictions governing the use of offsets within the EU ETS. …

Persistent link: https://www.econbiz.de/10011436163

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