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Soon, euro area membership could more than double, with the vast majority of accession countries being quite different in economic terms compared with current members. Under the current decision-making system, this can lead to high decisionmaking costs and there is a risk that monetary policy...
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markets, LIBOR markets have minimal frictions which could lead to rejecting UIP. Using panel unit root test suggested by Palm …, when market-specific heterogeneity is controlled for. Furthermore, the estimation results show that the speed of adjustment … to the long-run equilibrium is proportional to the maturity of the underlying instrument. -- UIP ; LIBOR ; panel …
Persistent link: https://www.econbiz.de/10009570031
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, and panel regressions in which all variables are defined as five-year averages to examine the impact of inflation on the …
Persistent link: https://www.econbiz.de/10012197609
This paper examines the impact of labour market and product market reforms on income inequality for 25 OECD countries, using the local projections approach and updates of the reform indicators put together by Duval et al. (2018) until 2020. Our results suggest that both types of (endogenized)...
Persistent link: https://www.econbiz.de/10013489588
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This paper examines how the pass-through of monetary policy measures in 6 EMU countries has evolved over time and whether there is convergence in monetary transmission. The countries included are: Belgium, France, Germany, Italy, the Netherlands and Spain, and the sample period is 1980-2000. We...
Persistent link: https://www.econbiz.de/10011398432
This paper studies the reaction of the mean and volatility of the euro-dollar exchange rate to statements of ECB officials during the first years of EMU. We focus on statements on monetary policy and the (potential) strength of the euro. We find that the Bundesbank has dominated the news...
Persistent link: https://www.econbiz.de/10011507830