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Reverse Causality in Global Current Accounts
Schnabl, Gunther - 2010
Germany as center countries with rising/high current account deficits (US) and surpluses (Germany). These are matched by … analysis extends from 1981-2008, the results for Germany mostly capture the situation before the euro was created …
Persistent link: https://www.econbiz.de/10013142986
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Reverse causality in global current accounts
Schnabl, Gunther; Freitag, Stephan - 2010
Germany as center countries with rising / high current account deficits (US) and surpluses (Germany). These are matched by … analysis extends from 1981-2008, the results for Germany mostly capture the situation before the euro was created. …
Persistent link: https://www.econbiz.de/10011605254
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Macroeconomic Adjustment to Monetary Union
Fagan, Gabriel - 2008
The move to monetary union in Europe led to convergence of interest rates among the participating countries. This was associated with notable cross-country differences in the behaviour of key macroeconomic aggregates. Compared to the low interest rate countries, former high interest rate...
Persistent link: https://www.econbiz.de/10012770251
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Methodological Advances in the Assessment of Equilibrium Exchange Rates
Bussière, Matthieu - 2010
. The third issue discusses the uncertainty associated to the estimation of a reduced form relationship for the real … exchange rate, concluding that inference can be improved by panel estimation. The fourth and final issue addresses the presence … of strong and weak cross section dependence in panel estimation, suggesting which panel estimators one could use in this …
Persistent link: https://www.econbiz.de/10013149063
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The Political Economy Under Monetary Union : Has the Euro Made a Difference?
Fratzscher, Marcel; Stracca, Livio - 2021
Economic and Monetary Union (EMU) has transformed Europe and has created an integrated pan-European economy. Much research has focused on understanding this integration process and what benefits and costs it entails. This paper identifies a political economy channel of EMU as the monetary union...
Persistent link: https://www.econbiz.de/10013316460
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Macroeconomic adjustment to monetary union
Fagan, Gabriel; Gaspar, Vítor - 2008
The move to monetary union in Europe led to convergence of interest rates among the participating countries. This was associated with notable cross-country differences in the behaviour of key macroeconomic aggregates. Compared to the low interest rate countries, former high interest rate...
Persistent link: https://www.econbiz.de/10011604992
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Structural Asymmetries and Financial Imbalances in the Eurozone
Jaccard, Ivan - 2017
major source of cross-country heterogeneity in the eurozone. We develop a two-country model with incomplete international …
Persistent link: https://www.econbiz.de/10012953871
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Fiscal Devaluation in the Euro Area : A Model-Based Analysis
Gomes, Sandra - 2014
We assess the effects on trade balance of a temporary fiscal devaluation enacted by Spain or Portugal by simulating EAGLE, a large-scale multi-country dynamic general equilibrium model of the euro area. Social contributions paid by firms are reduced by 1 percent of GDP for four years and are...
Persistent link: https://www.econbiz.de/10013049272
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Euro Area Monetary Policy and Target Balances : A Trilogy
Eisenschmidt, Jens; Kedan, Danielle; Schmitz, Martin - 2022
excess liquidity is likely to persist on account of higher demand for central bank reserves compared to the pre-crisis period …
Persistent link: https://www.econbiz.de/10014238460
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The Current Account and Monetary Policy in the Euro Area
Schuler, Tobias; Sun, Yiqiao - 2022
account and interest rate. Examining the VAR impulse responses for Germany, Italy and Spain we find that investment shocks and …
Persistent link: https://www.econbiz.de/10014079214