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This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the …
Persistent link: https://www.econbiz.de/10011308548
We analyze three related but distinct concepts concerning the renminbi's role in the global monetary system: (i) "internationalization" of the currency; (ii) currency convertibility; and (iii) reserve currency status. Their sequencing in relation to other policy goals such as financial sector...
Persistent link: https://www.econbiz.de/10009530739
applies a parametric difference-in-differences approach to assess the real effects of the introduction of the euro on … the initial problems were overcome within one year of the introduction of euro cash. …
Persistent link: https://www.econbiz.de/10003522939
-S type of regression for each regime. Our results show that, for countries which pegged to or adopted the euro, the effect of … conclude that, in a catching-up country, premature euro adoption may foster excess inflation, beyond that which is to be …
Persistent link: https://www.econbiz.de/10010191206
whether uncertainty over future interest rates in the Euro area hampers monetary policy transmission. In this non-linear model … data on domestic investment and interest rates on corporate loans for 5 countries of the Euro area in the period ranging …
Persistent link: https://www.econbiz.de/10012099559
"This paper deals with potential instabilities in the Eurozone stemming from an insufficient interplay between monetary … policy and reform effort on the one hand and the emergence of intra-Euro area divergences on the other. As a first step, we … are now appearing within the Euro area which threaten its long-term cohesiveness. The most manifest example of this threat …
Persistent link: https://www.econbiz.de/10003429626
prices in the four largest economies in the euro area: France, Germany, Italy, and Spain. We first calibrate a life …-policy transmission in the euro area. …
Persistent link: https://www.econbiz.de/10012133482
In this paper, we use a Micro-Macro model to evaluate the effects of a euro's depreciation on the French economy, both … the two models is made using an iterative (or sequential) approach. We find that a 10% euro's depreciation stimulates the …
Persistent link: https://www.econbiz.de/10011738884
Financial crisis can trigger policy reversals, i.e. they can lead to a process of re- regulation of financial markets. Using a recent comprehensive dataset on financial liberalization across 94 countries for the period between 1973 and 2015, we formally test the validity of this prediction for...
Persistent link: https://www.econbiz.de/10012022690
that the euro triggered product but neither labour nor financial market reforms. Differently from previous studies, we find … that: (a) the Single Market has similar effects to the euro, and (b) sectoral heterogeneity appears less important in …
Persistent link: https://www.econbiz.de/10012291227