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Coin migration between Germany and other euro area countries

Uhl, Matthias - 2020

Euro coins have a common European side and an individual national side. Thanks to coin migration, coins bearing a panoply of national sides are in circulation throughout the euro area. In this paper, we model the mixing of coins circulating in the euro area countries and in particular the extent...

Persistent link: https://www.econbiz.de/10012272025

Consumer cash usage : a cross-country comparison with payment diary survey data

Bagnall, John; Bounie, David; Huynh, Kim P.; Kosse, Anneke - 2014

We measure consumers’ use of cash by harmonizing payment diary surveys from seven countries: Australia, Austria, Canada …-country differences, for example, the level of cash usage differs across countries. Cash has not disappeared as a payment instrument …, especially for low-value transactions. We also find that the use of cash is strongly correlated with transaction size …

Persistent link: https://www.econbiz.de/10010384150

The impact of the European Monetary Union on inflation persistence in the euro area

Meller, Barbara; Nautz, Dieter - 2009

This paper uses the European Monetary Union (EMU) as a natural experiment to investigate whether more effective monetary policy reduces the persistence of inflation. Taking into account the fractional integration of inflation, we confirm that inflation dynamics differed considerably across Euro...

Persistent link: https://www.econbiz.de/10003875991

German and the rest of euro area fiscal policy during the crisis

Gadatsch, Niklas; Hauzenberger, Klemens; Stähler, Nikolai - 2015

We present the estimated large-scale three-region DSGE model GEAR picturing Germany, the Euro Area and the Rest of the world. Compared to existing models of this type, GEAR incorporates a comprehensive fiscal block, involuntary unemployment and a complex international structure. We use the model...

Persistent link: https://www.econbiz.de/10010516561

The interest rate pass-through in the euro area during the sovereign debt crisis

Borstel, Julia von; Eickmeier, Sandra; Krippner, Leo - 2015

We investigate the pass-through of monetary policy to bank lending rates in the euro area during the sovereign debt crisis, in comparison to the pre-crisis period. We make the following contributions. First, we use a factor-augmented vector autoregression, which allows us to assess the responses...

Persistent link: https://www.econbiz.de/10011280074

Asymmetric credit growth and current account imbalances in the euro area

Unger, Robert - 2015

The euro area crisis is often linked to the emergence of current account imbalances. As most of the deficit countries experienced pronounced credit booms at the same time that these imbalances were building up, this paper investigates the link between domestic credit developments and the current...

Persistent link: https://www.econbiz.de/10011373649

Identifying income and wealth-poor households in the euro area

Müller, Philip; Schmidt, Tobias - 2015

In this paper, we analyse different measures of asset and income poverty using micro-data for 15 euro area countries from the 2010 Household Finance and Consumption Survey (HFCS). We are particularly interested in the way in which specific definitions of income and wealth poverty affect the...

Persistent link: https://www.econbiz.de/10011373659

Cross-border banking and business cycles in asymmetric currency unions

Dräger, Lena; Proaño Acosta, Christian - 2015

Against the background of the recent housing boom and bust in countries such as Spain and Ireland, we investigate in this paper the macroeconomic consequences of cross-border banking in monetary unions such as the euro area. For this purpose, we incorporate in an otherwise standard two-region...

Persistent link: https://www.econbiz.de/10011299044

The synchronization of European credit cycles

Meller, Barbara; Metiu, Norbert - 2015

We study the synchronization of credit booms and busts among 12 major European economies and the United States between 1972-2011. We propose a regression-based procedure to test whether boom-bust phases of credit cycles coincide across countries and to cluster countries with positively...

Persistent link: https://www.econbiz.de/10011299045

Distributional consequences of asset price inflation in the euro area

Adam, Klaus; Tzamourani, Panagiota - 2015

We study the distributional consequences of housing price, bond price and equity price increases for Euro Area households using data from the Household Finance and Consumption Survey (HFCS). The capital gains from bond price and equity price increases turn out to be concentrated among relatively...

Persistent link: https://www.econbiz.de/10011316626

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