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The euro area crisis is the main external factor threatening the Swiss economy. In 2010 and 2011, the Swiss franc was … rapidly appreciating against the euro, causing a drop in exports, losses for the tourism business and a rise in unemployment …. This paper gives an overview of developments in the euro area and explains the reasons for the strength of the franc, the …
Persistent link: https://www.econbiz.de/10009682346
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
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...
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A monetary union among autonomous countries cannot simultaneously maintain an independent monetary policy, national fiscal sovereignty and a no-bailout clause. These three features make up an impossible trinity, and attempts to preserve all three concurrently will ultimately end in failure. In...
Persistent link: https://www.econbiz.de/10009686816
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
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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