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What lies beneath the euro's effect on financial integration? Currency risk, legal harmonization, or trade?
Kalemli-Ozcan, Sebnem; Papaioannou, Elias; Peydró, … - 2010
-regulatory convergence has also contributed to the spur of cross-border financial transactions. Trade in goods, while highly correlated with …
Persistent link: https://www.econbiz.de/10011605262
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Fiscal Variables and Bond Spreads : Evidence from Eastern European Countries and Turkey
Nickel, Christiane - 2009
, Hungary, Poland, Russia and Turkey from May 1998 to December 2007. To account for the importance of market expectations we use …
Persistent link: https://www.econbiz.de/10013155821
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Home sweet home: The home bias in trade in the European Union
Mika, Alina - 2017
This study examines the home bias in trade in goods and services within the European Union. Using the newest release of … trade-reducing effect of borders is found to be sizeable. It is greater for trade in services than for goods, though the …
Persistent link: https://www.econbiz.de/10011667192
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Determinants of business cycle synchronisation across euro area countries
Böwer, Uwe; Guillemineau, Catherine - 2006
the single market intensified bilateral trade across euro area countries and contributed to higher business cycle symmetry …. The introduction of the single currency led to an intensification of intra-industry trade which has become the main …
Persistent link: https://www.econbiz.de/10011604633
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Euro's influence upon trade: Rose effect versus border effect
Cafiso, Gianluca - 2008
This paper assesses the Euro’s influence upon European trade by estimating two different indicators. The first is the … with its trade partners. This study of the Euro’s influence by means of the Border Effect is a novelty in the literature …, it reveals that the Euro’s influence upon trade is not so clear as papers focused only on the Rose Effect claim. This …
Persistent link: https://www.econbiz.de/10011604987
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Sectorial Border Effects in the European Single Market: an Explanation through Industrial Concentration
Cafiso, Gianluca - 2009
The purpose of this paper is to explain the relation between the Border Effect and industrial concentration. This is achieved by founding this relation on the Home Market Effect and testing the robustness of this foundation through an application to the European Single Market. A sectorial...
Persistent link: https://www.econbiz.de/10011605162
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The effects of EMU on structural reforms in labour and product markets
Duval, Romain; Elmeskov, Jørgen - 2006
Will EMU accelerate or retard structural reform in labour and product markets? The theoretical literature is ambiguous. New descriptive evidence provided in this paper suggests that euro-area countries have made relatively good progress in structural reform. However, it is much less clear...
Persistent link: https://www.econbiz.de/10011604642
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The political economy under monetary union: has the euro made a difference?
Fratzscher, Marcel; Stracca, Livio - 2008
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/10011605002
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Ricardian fiscal regimes in the European Union
Afonso, António - 2005
The prevalence of either Ricardian or non-Ricardian fiscal regimes is important both for practical policy reasons and to assess fiscal sustainability, and this is of particular relevance for European Union countries. The purpose of this paper is to assess, with a panel data set, the empirical...
Persistent link: https://www.econbiz.de/10011604604
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Expansionary fiscal consolidations in Europe: new evidence
Afonso, António - 2006
In order to assess the existence of expansionary fiscal consolidations in Europe, panel data models for private consumption are estimated for the EU15 countries, using annual data over the period 1970–2005. Three alternative approaches to determine fiscal episodes are used, and the level of...
Persistent link: https://www.econbiz.de/10011604721