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Why the European Securities Market is Not Fully Integrated

Giovannini, Alberto - 2008

I describe the challenge of fully integrating securities markets in Europe by integrating the clearing and settlement …

Persistent link: https://www.econbiz.de/10012464171

The Determinants of Realignment Expectations Under the EMS : Some Empirical Regularities

Chen, Zhaohui - 1993

The stability of the EMS depends crucially on realignment expectations of the market participants. In this paper we discuss how to measure such expectations and how to relate them to economic fundamentals, central bank reputation, and institutional arrangements of the EMS. We find the following...

Persistent link: https://www.econbiz.de/10012474669

The Currency Reform as the Last Stage of Economic and Monetary Union : Some Policy Questions

Giovannini, Alberto - 1991

The paper discusses the policy problems of a project aimed at substituting several national currencies with one single currency. While these problems are of general interest, the analysis is motivated by the plan for Economic and Monetary Union among the members of the European Community. The...

Persistent link: https://www.econbiz.de/10012475071

Capital Flight and Tax Competition : Are There Viable Solutions to Both Problems?

Giovannini, Alberto - 1990

This paper discusses a model corporate tax system based on the application of the residence principle. This tax system, while preserving national sovereignties, minimizes the distortions from international capital mobility. The paper is motivated by an analysis of European capital income tax...

Persistent link: https://www.econbiz.de/10012475702

Can The European Monetary System Be Copied Outside Europe? Lessons From Ten Years of Monetary Policy Coordination In Europe

Giavazzi, Francesco - 1988

This paper addresses the question of whether the European Monetary System can be copied outside Europe. Our answer is … negative. The EMS is just one element of a more comprehensive design of institutional integration within Europe: the presence … to EMS exchange rate targets in a way that would not be present. say, among the United States, Europe and Japan. The EMS …

Persistent link: https://www.econbiz.de/10012476271

How Do Fixed-Exchange-Rates Regimes Work : The Evidence From The Gold Standard, Bretton Woods and The EMS

Giovannini, Alberto - 1988

This paper defines two competing hypotheses on the working of fixed exchange rates. The "symmetry" hypothesis states that every country is concerned with the good functioning of the system, and cannot afford to deviate from world averages. Every country is just left to follow the rules of the...

Persistent link: https://www.econbiz.de/10012476294

The threat of systemic risk in banking - evidence for Europe

Schüler, Martin - 2002

Persistent link: https://www.econbiz.de/10013428472

Integration of the European Market for e-finance : evidence from online brokerage

Schüler, Martin - 2002

The internet revolution is said to foster integration of the market for financial services, since consumers are able to shop around at all companies worldwide and firms can easily offer their services on the internet at a minimum of distribution cost. However, the European market for online...

Persistent link: https://www.econbiz.de/10013428474

Integration benefits on EU retail credit markets : evidence from interest rate pass-through

Heinemann, Friedrich - 2002

Lending and borrowing interest rates are often slow to adjust to changing capital market conditions. This paper argues that national differences of the pass-through speed in the EU can be regarded as a retail-oriented indicator of financial integration. Based on an ECB database the speed of...

Persistent link: https://www.econbiz.de/10013428476

Incentive problems in banking supervision : the European case

Schüler, Martin - 2003

Persistent link: https://www.econbiz.de/10013428589