Showing 1 - 7 of 7
We test the hypothesis that the government bond markets in the Eurozone are more fragile and more susceptible to self-fulfilling liquidity crises than in stand-alone countries. We find evidence that a significant part of the surge in the spreads of the PIGS countries in the Eurozone during...
Persistent link: https://www.econbiz.de/10013090949
We analyze the similarities and the differences in the fragility of the European Monetary system (EMS) and the Eurozone. We test the hypothesis that in the EMS the fragility arose from the absence of a credible lender of last resort in the foreign exchange markets while in the Eurozone it was...
Persistent link: https://www.econbiz.de/10013072510
This paper estimates the effects of the EU enlargements in the 2000s for trade in parts and components and trade in … EU and OECD countries. The estimation approach accounts for firm heterogeneity and selection bias in a panel …-data framework. We find a positive and significant effect of the EU-accession on CEECs trade in intermediate and final goods. The …
Persistent link: https://www.econbiz.de/10013049209
In a major setback for the EU, only two of four Eastern Partnership countries actually initialed Association Agreements … the EU, the paper shows that the Eastern Partnership countries, including Ukraine, by far the largest in the group, gain … significantly from free trade agreements with the EU, but gain little if anything from free trade agreements with Russia …
Persistent link: https://www.econbiz.de/10013050477
Eastern Partnership attempted to further political stability and economic development by liberalizing trade between the EU and … establishing political democracy and human rights in key countries. In response, the EU increased the emphasis in the ENP on … among the countries of the region as well as between each such country and the EU. Using a panel gravity model of trade …
Persistent link: https://www.econbiz.de/10013315891
Persistent link: https://www.econbiz.de/10013442496
In this paper we provide empirical evidence documenting the nature of the Eurozone's fragility. We find that during periods of turmoil, financial markets have tended to impose strong programs of austerity on member countries of the Eurozone. This confirms the evidence we found in a previous...
Persistent link: https://www.econbiz.de/10013029461