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Cross-country insurance mechanisms in currency unions
Beers, Nancy van; Bijlsma, Michiel J.; Zwart, Gijsbert T. J. - 2014
Countries in a monetary union can adjust to shocks either through internal or external mechanisms. We quantitatively assess for the European Union a number of relevant mechanisms suggested by Mundell’s optimal currency area theory, and compare them to the United States. For this purpose, we...
Persistent link: https://www.econbiz.de/10010354695
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Regional currency arrangements : insights from Europe
Christl, Josef - 2006
Persistent link: https://www.econbiz.de/10003340416
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The relative importance of symmetric and asymmetric shocks : the case of United Kingdom and euro area
Peersman, Gert - 2007
Persistent link: https://www.econbiz.de/10003511397
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The Euro Crisis and Economic Growth : A Novel Counterfactual Approach
Terzi, Alessio - 2019
warranted. To make this claim, this paper uses a Propensity Score Matching Model to produce counterfactuals for the Eurozone … more in the Eurozone periphery than in the standard counterfactual scenario. These results are not dictated by any specific … Eurozone's specificity, which is instead to be traced back to a sharper-than-expected contraction in investment and fiscal …
Persistent link: https://www.econbiz.de/10012866042
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Transmission of business cycle shocks between the US and the euro area
Schneider, Martin; Fenz, Gerhard - 2008
Persistent link: https://www.econbiz.de/10003773540
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Proposal for a common currency among rich democracies
Cooper, Richard N. - 2006
Persistent link: https://www.econbiz.de/10003340384
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Interaction between US and EU monetary policy
Heimonen, Kari - 1999
Persistent link: https://www.econbiz.de/10001372406
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The Global Financial Cycle and Capital Flow Episodes : A Wobbly Link?
Scheubel, Beatrice - 2019
We add to the literature on the influence of the global financial cycle (GFC) and gyrations in capital flows. First, we build a new measure of the GFC based on a structural factor approach, which incorporates theoretical priors in its definition. This measure can also be decomposed in a...
Persistent link: https://www.econbiz.de/10012858195
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Measuring financial cycles in a model-based analysis : empirical evidence for the United States and the euro area
Galati, Gabriele; Hindrayanto, Irma; Koopman, Siem Jan; … - 2016
We adopt an unobserved components time series model to extract financial cycles for the United States and the five largest euro area countries over the period 1970 to 2014. We find that credit, the credit-to-GDP ratio and house prices have medium-term cycles which share a few common statistical...
Persistent link: https://www.econbiz.de/10011456728
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From the Investment Plan to the Capital Markets Union : European financial structure and cross border risk-sharing
Berg, Jesper; Clerc, Laurent; Garnier, Olivier; … - 2015
Persistent link: https://www.econbiz.de/10011506287