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Completing the monetary union of Europe as mid-term solution of the Euro crisis
Fischer, Justina A. V.; Pastore, Francesco - 2015
This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the …
Persistent link: https://www.econbiz.de/10011308548
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Designing the Policy Mix in a Monetary Union
Kempf, Hubert - 2020
This paper studies the design of the policy mix in a monetary union, that is, the institutional arrangement specifying the relationships between the various policymakers present in the union and the extent of their capacity of action. It is assumed that policymakers do not cooperate. Detailing...
Persistent link: https://www.econbiz.de/10012832189
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Unconventional Monetary Policy Shocks in the Euro Area and the Sovereign-Bank Nexus
Hristov, Nikolay - 2020
exposure of banks to the debt issued by the national government. Our results suggest that euro area crisis countries' banks …
Persistent link: https://www.econbiz.de/10012838235
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The Euro Area Periphery Sovereigns' Fiscal Positions and Unconventional Monetary Policy
Hülsewig, Oliver - 2020
We explore the reaction of the euro area periphery sovereigns' fiscal positions to an unconventional monetary policy …
Persistent link: https://www.econbiz.de/10012843420
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Macroprudential Policy and the Sovereign-Bank Nexus in the Euro Area
Hristov, Nikolay; Hülsewig, Oliver; Kolb, Benedikt - 2021
We explore how changes in capital-based macroprudential regulation in the euro area affect the exposure of national … responses to the unsystematic component of macroprudential policy in panel vector autoregressive models for euro area ”core” and …
Persistent link: https://www.econbiz.de/10013324211
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Unconventional Monetary Policy in the Euro Area. Impacts on Loans, Employment, and Investment
Afonso, António; Gomes Pereira, Francisco - 2022
transmission effectiveness of ECB’s large-scale asset purchasing programs programs (i.e. APP and PEPP) in the Euro area. Our …
Persistent link: https://www.econbiz.de/10013296738
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Euro Area House Prices and Unconventional Monetary Policy Surprises
Hülsewig, Oliver; Rottmann, Horst - 2021
This paper examines the reaction of house prices in a panel of euro area countries to monetary policy surprises over …
Persistent link: https://www.econbiz.de/10013229702
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The Euro Exchange Rate and Germany's Trade Surplus
Hohberger, Stefan - 2019
We estimate a three-region (DE-REA-RoW) structural macroeconomic model, and we provide a counterfactual on how nominal exchange rate flexibility would have affected the German trade balance (TB) by simulating the shocks of the estimated model under a counterfactual flexible exchange rate regime....
Persistent link: https://www.econbiz.de/10012890627
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The Euro Crisis and Economic Growth : A Novel Counterfactual Approach
Terzi, Alessio - 2019
Macroeconomic adjustment in the euro area periphery was more recessionary than pre-crisis imbalances would have … 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 …
Persistent link: https://www.econbiz.de/10012866042
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Characteristics of the Euro, the demand for reserves, and policy coordination under EMU
Masson, Paul R. - 1997
Persistent link: https://www.econbiz.de/10000967640