Similar Search Results

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

Why Has the Euro Been Falling? An Investigation into the Determinants of the Exchange Rate

Sinn, Hans-Werner - 2001

Europe and to variations in the demand for black money balances in Europe as a whole. We reject the view that the strength of …

Persistent link: https://www.econbiz.de/10012470368

The Minimum Inflation Rate for Euroland

Sinn, Hans-Werner - 2001

extended Europe which incorporates the east European countries …

Persistent link: https://www.econbiz.de/10012470644

Eurowinners and Eurolosers : The Distribution of Seigniorage Wealth in EMU

Sinn, Hans-Werner - 1997

The European Monetary Union (EMU) will involve socialization of the existing seigniorage wealth of the national central banks, because the Euro will have to be bought by these banks in exchange for assets which have been accumulated in the historical process of money creation. This socialization...

Persistent link: https://www.econbiz.de/10012472742

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

Tax Harmonization and Tax Competition in Europe

Sinn, Hans-Werner - 1990

Opening Europe's borders in 1993 makes the allocation of resources more vulnerable to differences in the national tax …

Persistent link: https://www.econbiz.de/10012475789

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