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We model EU countries' bank ratings using financial variables and allowing for intercept and slope heterogeneity. Our … aim is to assess whether "old" and "new" EU countries are rated differently and to determine whether "new" ones are … intercepts) are a crucial determinant of ratings. Whilst "new" EU countries typically have lower ratings than "old" ones, after …
Persistent link: https://www.econbiz.de/10003974520
The EMU accession countries are obliged to fulfill the Maastrich convergence criteria prior to entering the EMU. This paper uses a DSGE model of a two-sector small open economy, to address the following question: How do the Maastricht convergence criteria modify optimal monetary policy in an...
Persistent link: https://www.econbiz.de/10003778818
industries) in 25 EU countries over the period from 1995 to 2005. By applying a cross-country and industry-specific approach, it …
Persistent link: https://www.econbiz.de/10008659411
, regions, or countries. The enlargement of the EU or the introduction of the euro, however, can be looked upon as integration … that go along with EU integration along the border. Both at the urban and regional level, we find a beneficial influence of … the EU integration process as measured by the growth in population share along the integration borders, leading to an …
Persistent link: https://www.econbiz.de/10009009598
In the course of the EU enlargement process, the participation of accession countries in the European Monetary Union …
Persistent link: https://www.econbiz.de/10011397787
Europe's monetary union is part of a broader process of integration that started in the aftermath of World War II. In this "political guide for economists" we look at the creation of the euro within the bigger picture of European integration. How and why were European institutions established?...
Persistent link: https://www.econbiz.de/10009754523
favor of remaining in the EU. Somewhat surprisingly, the intensity of immigration from the EU is positively correlated with …
Persistent link: https://www.econbiz.de/10011544086
A major characteristic of the European Union is its transitional or evolving nature, in particular with regard to the assignment of powers between the two main levels of government. More precisely, under current constitutional arrangements, this evolving nature takes the form of an integration...
Persistent link: https://www.econbiz.de/10011508094
Persistent link: https://www.econbiz.de/10010494073
In 1999, eleven European countries formed the Economic and Monetary Union (EMU); they abandoned their national currencies and adopted a new common currency, the euro. Several recent papers argue that the introduction of the euro has led (by itself) to a sizable and statistically significant...
Persistent link: https://www.econbiz.de/10002756253