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Reinforcing EU Governance in Times of Crisis : The Commission Proposals and Beyond

Belke, Ansgar Hubertus - 2011

governance in the EU and the euro area since the launch of the Economic and Monetary Union. Broader and enhanced surveillance of …

Persistent link: https://www.econbiz.de/10013131811

The Euro Area Crisis Management Framework – Consequences and Institutional Follow-Ups

Belke, Ansgar Hubertus - 2010

The current instruments in the EU to deal with debt and liquidity crises include among others the European Financial …

Persistent link: https://www.econbiz.de/10013136117

Driven by the Markets? ECB Sovereign Bond Purchases and the Securities Markets Programme

Belke, Ansgar Hubertus - 2010

Persistent link: https://www.econbiz.de/10013138570

Modifying Taylor Reaction Functions in Presence of the Zero-Lower-Bound – Evidence for the ECB and the Fed

Belke, Ansgar Hubertus - 2012

We propose an alternative way of estimating Taylor reaction functions if the zero-lowerbound on nominal interest rates is binding. This approach relies on tackling the real rather than the nominal interest rate. So if the nominal rate is (close to) zero central banks can influence the infl ation...

Persistent link: https://www.econbiz.de/10013102781

Current Account Imbalances and Structural Adjustment in the Euro Area : How to Rebalance Competitiveness

Zemanek, Holger - 2014

Low international competitiveness of a set of euro area countries, which have become evident by large current account deficits and rising risk premiums on government bonds, is one of the most challenging economic policy issues for Europe. We analyse the role of private restructuring and public...

Persistent link: https://www.econbiz.de/10013071193

Exports and Capacity Constraints – A Smooth Transition Regression Model for Six Euro Area Countries

Belke, Ansgar Hubertus - 2013

Traditional specifications of export equations incorporate foreign demand as a demand pull factor and the real exchange rate as a relative price variable. However, such standard export equations have failed to explain the export performance of euro area countries during the crisis period. In...

Persistent link: https://www.econbiz.de/10013073245

Exchange Rate Bands of Inaction and Play -- Hysteresis in Greek Exports to the Euro Area, the US and Turkey -- Sectoral Evidence

Belke, Ansgar Hubertus - 2016

In this paper a non-linear model is applied, where suddenly strong spurts of exports occur when changes of the exchange rate go beyond a zone of inaction, which we call “play” area – analogous to mechanical play. We implement an algorithm describing path-dependent play-hysteresis into a...

Persistent link: https://www.econbiz.de/10013000552

The Importance of Global Shocks for National Policy Makers - Rising Challenges for Central Banks

Belke, Ansgar Hubertus - 2009

We analyze the importance of global shocks for the global economy and national policy makers. More specifically, we investigate whether monetary policy has become less effective in the wake of financial globalization. We also examine whether there is increasing uncertainty for central banks due...

Persistent link: https://www.econbiz.de/10013155344

Does the ECB Rely on a Taylor Rule? : Comparing Ex-Post with Real Time Data

Belke, Ansgar Hubertus - 2009

We assess the differences that emerge in Taylor rule estimations for the ECB when using ex-pos data instead of real time forecasts and vice versa.We argue that previous comparative studies i this field mixed up two separate effects. First, the differences resulting from the use of ex-post and...

Persistent link: https://www.econbiz.de/10013155355

The EU Budget Dispute - A Blessing in Disguise?

Schneider, Ondrej - 2007

This paper analyses the European budget and the position of the ten new member states. We argue that the EU budget … that the current EU budget setting is, at best, neutral with respect to the EU-wide long-term growth potential and may … actually hamper growth in the majority of the EU countries if the distortionary nature of taxation is taken into account …

Persistent link: https://www.econbiz.de/10012776902