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Persistent link: https://www.econbiz.de/10000138863
not economic necessity have dictated the consolidation in the EU during the 90s. …
Persistent link: https://www.econbiz.de/10000683878
The establishment of a sovereign debt restructuring mechanism (SDRM) is one of the important issues in the academic debate on a viable constitution for the European Monetary Union (EMU). Yet the topic seems to be taboo in official reform contributions to the debate. Against this backdrop, the...
Persistent link: https://www.econbiz.de/10012421950
element of a promising EU membership strategy. Besides that, the potential role of a stabilization fund is discussed that …
Persistent link: https://www.econbiz.de/10011621428
Since the negotiation of the Maastricht Treaty in December 1991 expectations on the new European currency could possibly influence European interest rates. The focus of this paper is both on the theoretical and empirical analysis of the link between European Monetary Union (EMU) and German...
Persistent link: https://www.econbiz.de/10011621678
Die Bestimmungen zur europäischen Wirtschafts- und Währungsunion (WWU) im Unionsvertrag haben die Anreize für öffentliche Verschuldung verändert. Die Analyse zeigt, daß trotz der Bemühungen, die nationale Eigenverantwortlichkeit zu bewahren, nicht mit einer effektiven Disziplinierung...
Persistent link: https://www.econbiz.de/10011621819
Durch den Maastrichter Vertrag soll Europa auf den Weg zu einer solidarischen und subsidiären Währungsunion gebracht werden. Nach einer Übersetzung dieser Begriffe in ökonomische Termini werden die Konsequenzen für die Fortentwicklung der EG-Finanzen untersucht. Es zeigt sich, daß das...
Persistent link: https://www.econbiz.de/10011622162
There are at least two reasons why sustainability of public debt is an issue of increasing importance. First, public choice considerations show the danger of an excessive use of deficit finance in a democracy. Second, the conditions of a European Monetary Union (EMU) imply further incentives for...
Persistent link: https://www.econbiz.de/10011622826
We use event study regressions to compare the impact of EU monetary versus fiscal policy announcements on government … bond spreads of ten euro member countries. Our motivation is to evaluate which of the two players - the ECB or the EU … only for the announcement of the 'Next Generation EU' program. In contrast, a temporary relaxation of European fiscal rules …
Persistent link: https://www.econbiz.de/10012534642
of three dimensions on EU and euro area fiscal reform preferences: nationality, political ideology, and populism. We …
Persistent link: https://www.econbiz.de/10012596720