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We estimate that the euro has increased trade within the eurozone by about 26 percent and trade between the eurozone … significant and substantial effects on the extensive margin of trade. The euro effects were concentrated to semi-finished and …
Persistent link: https://www.econbiz.de/10013317266
lost in terms of economic and social cost from 2002 to 2014 as a consequence of the super-evaluation of the Euro and the … -- PART II: Some Empirical Evidence: Why European Treaties are a Negative-sum Game -- 11. The Cost of the Super-Euro: 2002 …
Persistent link: https://www.econbiz.de/10012397533
1 Introduction -- 2 What Went Wrong With the Euro?.- 3 Public Debt: Introductory Remarks -- 4 Was the Eurozone an … of the Euro? -- 12 On the Destabilizing Effects of Bailouts -- 13 On Sound Money and Credit Conditions -- 14 The Case of … Problem -- 18 Can There Be Stable Currencies After the Euro? -- 19 The Gold Standard and Free Banking -- 20 An Unexpected …
Persistent link: https://www.econbiz.de/10014017066
A detailed and informed analysis of the current crisis facing the eurozone, examining the root causes and exploring the possible outcomes and uncertain future of the European Union and its currency. Chapters include case studies of Portugal, Ireland, Spain and Greece, as well as broader...
Persistent link: https://www.econbiz.de/10012053992
This sequel to the author's earlier well-received Euro On Trial, shows how European Monetary Union became a main engine …
Persistent link: https://www.econbiz.de/10012106226
Euro Crash diagnoses the three fatal design flaws in EMU as constructed by the Maastricht Treaty and analyses future …
Persistent link: https://www.econbiz.de/10012106248
The foreign debts of the European countries are at the core of the current crises. Generally, the crises are attributed to government budget deficits in excess of the values stated in the Stability and Growth Pact (SGP)/Maastricht treaty. Proposals for reform generally involve increasing the...
Persistent link: https://www.econbiz.de/10013130015
this result in a dynamic general equilibrium model where market participants have heterogeneous liquidity needs and where … money market rate and the volumes traded at the ECB's deposit and lending facilities in response to the recent financial …
Persistent link: https://www.econbiz.de/10013135781
The paper compares the boom-and-bust cycles in Japan and Europe with respect to the reasons for excessive booms, the characteristics of the crises, and the (potential) effects of the crisis therapies. As in Japan the consequence of expansionary monetary and fiscal policies is the hysteresis of...
Persistent link: https://www.econbiz.de/10013081055
analysis is that since T2 imbalances were caused by a sudden stop and are unlikely to grow without bounds since Euro area CA …
Persistent link: https://www.econbiz.de/10013082613