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The Stability and Growth Pact : Crisis and Reform

Schuknecht, Ludger - 2011

The sovereign debt crisis in the euro area is a symptom of policy failures and deficiencies in – among other things – fiscal policy coordination. The first nine years of the euro were not used effectively in order to improve public finances, while the Stability and Growth Pact was watered...

Persistent link: https://www.econbiz.de/10013128170

Euro Area Cross-Border Financial Flows and the Global Financial Crisis

Forster, Katrin - 2011

This paper analyses the impact of the global financial crisis on euro area cross-border financial flows by comparing recent developments with the main pre-crisis trends. Two prominent features of the period of turmoil were (i) the sizeable deleveraging of external financial exposures by the...

Persistent link: https://www.econbiz.de/10013128178

The Global Downturn and its Impact on Euro Area Exports and Competitiveness

di Mauro, Filippo - 2010

hindered by the geographical orientation of its export markets, which are mainly focused on advanced economies and other EU …

Persistent link: https://www.econbiz.de/10013137758

The Size and Composition of Government Debt in the Euro Area

Hartwig Lojsch, Dagmar - 2011

surveillance in the EU and for the Excessive Deficit Procedure in particular; beyond the size of government debt its composition is …

Persistent link: https://www.econbiz.de/10013120240

Euro Area Labour Markets and the Crisis

Anderton, Robert - 2012

Between the start of the economic and financial crisis in 2008, and early 2010, almost four million jobs were lost in the euro area. Employment began to rise again in the first half of 2011, but declined once more at the end of that year and remains at around three million workers below the...

Persistent link: https://www.econbiz.de/10013100053

Financial Shocks and the Macroeconomy : Heterogeneity and Non-Linearities

Hubrich, Kirstin - 2013

investigated from an empirical perspective for the euro area as a whole, for individual euro area member countries and for other EU …

Persistent link: https://www.econbiz.de/10013088959

The Benefits of Fiscal Consolidation in Uncharted Waters

Rother, Philipp - 2014

This paper looks at fiscal sustainability and fiscal risks from a comprehensive, global perspective. It argues that the benefits of consolidation have to be re-assessed given that industrialised countries have entered uncharted waters with unsustainable public debt dynamics and enormous...

Persistent link: https://www.econbiz.de/10013069525

Extraordinary Measures in Extraordinary Times : Public Measures in Support of the Financial Sector in the EU and the United States

Stolz, Stéphanie Marie - 2014

preliminary assessment of the effectiveness of such measures. The geographical focus of the paper is on the European Union (EU …, not only between the EU and the United States (e.g. with regard to the involvement of the central bank), but also within … the EU (e.g. asset relief schemes) …

Persistent link: https://www.econbiz.de/10013069662

Euro Area Fiscal Stance

Bańkowski, Krzysztof - 2017

The authors are grateful for helpful comments following presentations at the ESCB Monetary Policy Committee and its Working Group on Public Finance, and at the ECB. Special thanks are due to Iñigo Arruga Oleaga, Niccolò Battistini, Francesco Drudi, Pascal Jacquinot, Christophe Kamps,...

Persistent link: https://www.econbiz.de/10012963904

Fiscal Expenditure Spillovers in the Euro Area : An Empirical and Model-Based Assessment

Alloza, Mario - 2020

The paper describes the main transmission channels of the spillovers of national fiscal policies to other countries within the euro area and investigates their magnitude using different models. In the context of Economic and Monetary Union (EMU), fiscal spillovers are relevant for the accurate...

Persistent link: https://www.econbiz.de/10012836254