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Enlargement versus Deepening : The Trade-Off Facing Economic Unions

Lorz, Oliver - 2012

This paper analyzes the relationship between the size of an economic union and the degree of policy centralization. We consider a political economy setting in which elected representatives bargain about the degree of centralization within the union. In our model strategic delegation affects the...

Persistent link: https://www.econbiz.de/10012754994

Financial Stability in Europe : Banking and Sovereign Risk

Bruha, Jan - 2017

We analyze the link between banking sector quality and sovereign risk in the whole European Union over 1999–2014. We employ four different indicators of sovereign risk (including market- and opinion-based assessments), a rich set of theoretically and empirically motivated banking sector...

Persistent link: https://www.econbiz.de/10012955275

Goods and Factor Market Integration : A Quantitative Assessment of the EU Enlargement

Caliendo, Lorenzo - 2017

use the EU Labour Force Survey to construct migration ows by skill and nationality across 17 countries for the period 2002 …-2007. We then exploit the timing variation of the 2004 EU enlargement to estimate the elasticity of migration ows to labor … model and use these estimates, as well as the observed changes in tariffs, to quantify the effects from the EU enlargement …

Persistent link: https://www.econbiz.de/10012948334

SMEs and Access to Bank Credit : Evidence on the Regional Propagation of the Financial Crisis in the UK

Degryse, Hans - 2015

We study the sensitivity of banks' credit supply to small and medium size enterprises (SMEs) in the UK to banks' financial condition before and during the financial crisis. Employing unique data on the geographical location of all bank branches in the UK, we connect firms' access to bank credit...

Persistent link: https://www.econbiz.de/10013019405

Fiscal Rules, Financial Stability and Optimal Currency Areas

De Grauwe, Paul - 2015

In this paper we suggest that Eurozone countries face a policy trade-off among: 1) a common rule imposing co-movements in fiscal policy; 2) financial stability; and 3) financial integration. We provide empirical evidence documenting the existence of such a trade-off in the period characterized...

Persistent link: https://www.econbiz.de/10013020581

Ordoliberalism, Pragmatism and the Eurozone Crisis : How the German Tradition Shaped Economic Policy in Europe

Feld, Lars P. - 2015

German policy during the Eurozone crisis supposedly follows an ordoliberal tradition. In this paper, we discuss to what extent this contention holds and to what extent Germany pragmatically responded to different crisis phenomena. A proper analysis of ordoliberal thinking reveals that the...

Persistent link: https://www.econbiz.de/10013021693

FDI, Trade Integration and the Border Effect : Evidence from the European Union

Martinez-San Roman, Valeriano - 2014

-tariff barriers. We find that, for the particular case of the EU, it is not possible to strictly discriminate between horizontal or …

Persistent link: https://www.econbiz.de/10013051267

Labor Standards and Economic Integration in the European Union : An Empirical Analysis

Dehejia, Vivek H. - 2006

between labor standards and economic integration in the European Union (EU) and, in particular, investigate the following … standards and export performance. Our estimates based on data for the period 1980-2001 for EU-15 countries provides mixed …

Persistent link: https://www.econbiz.de/10012779788

Sovereign Rating News and Financial Markets Spillovers : Evidence from the European Debt Crisis

Arezki, Rabah - 2011

This paper examines the spillover effects of sovereign rating news on European financial markets during the period 2007-2010. Our main finding is that sovereign rating downgrades have statistically and economically significant spillover effects both across countries and financial markets. The...

Persistent link: https://www.econbiz.de/10013127179

The Diversity of Debt Crises in Europe

Stein, Jerome L. - 2011

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