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Brexit, What Brexit? Euro Area Portfolio Exposures to the United Kingdom Since the Brexit Referendum
Carvalho, Daniel; Schmitz, Martin - 2022
We study euro area investors' portfolio adjustment since the Brexit referendum in terms of securities issued in the UK … since the Brexit referendum. The analysis also reveals an increase in the euro area's exposure to listed shares issued by UK … referendum, which appear to have largely outweighed the uncertainties associated with Brexit …
Persistent link: https://www.econbiz.de/10014239454
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Trade integration of Central and Eastern European countries: lessons from a gravity model
Bussière, Matthieu; Fidrmuc, Jarko; Schnatz, Bernd - 2005
The aim of the paper is to analyse the factors behind the rapid trade integration of the Central and Eastern European countries with the euro area in the past ten years and to gauge the potential for further integration. We use as benchmark an enhanced gravity model estimated with a large sample...
Persistent link: https://www.econbiz.de/10011604591
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Trade Integration of Central and Eastern European Countries : Lessons from a Gravity Model
Bussière, Matthieu; Fidrmuc, Jarko; Schnatz, Bernd - 2021
This paper analyses the rapid trade integration of the Central and Eastern European countries (CEEC's) with the euro area in the past ten years and draws implications for further integration. We use as benchmark an enhanced gravity model estimated for a large sample of bilateral trade flows...
Persistent link: https://www.econbiz.de/10013318195
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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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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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Trade with central and eastern Europe: Is it really a threat to wages in the west?
Polgár, Éva Katalin; Wörz, Julia - 2010
This paper analyses the relationship between openness to trade and wages at the industry level (15 manufacturing industries) in 25 EU countries over the period from 1995 to 2005. By applying a cross-country and industry-specific approach, it is possible to control for unobserved heterogeneity at...
Persistent link: https://www.econbiz.de/10011605290
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Determinants of business cycle synchronisation across euro area countries
Böwer, Uwe; Guillemineau, Catherine - 2006
We investigate the key factors underlying business cycle synchronisation in the euro area applying the extreme-bounds analysis. We examine both traditional determinants and new, EMU-specific policy and structural indicators over the past 25 years. Our evidence seems to support the endogeneity...
Persistent link: https://www.econbiz.de/10011604633
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Global Value Chains : A View from the Euro Area
Amador, Joao L.M. - 2015
This paper describes the main features of Global Value Chains (GVCs) in the euro area taken as a whole and compares with other large trade players like the US, China and Japan. In addition, the perspective of individual euro area countries is considered, with a focus on intra euro area linkages....
Persistent link: https://www.econbiz.de/10013026619
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The Role of Price and Cost Competitiveness for Intra- and Extra-Euro Area Trade of Euro Area Countries
Bobeica, Elena - 2016
This paper studies the importance of price and cost competitiveness for intra- and extra-euro area trade flows of euro area countries. A standard error correction framework shows that price competitiveness is a relatively more important driver of trade flows outside the euro area as compared to...
Persistent link: https://www.econbiz.de/10012984573
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Fiscal and monetary policy in the enlarged European Union
Pogorelec, Sabina - 2006
I build a quantitative two-country DSGE model of the European Union (EU) and investigate whether there are welfare gains from fiscal policy cooperation between the new EU members and the euro area (EMU). Fiscal cooperation is defined in terms of joint maximization of the weighted average of...
Persistent link: https://www.econbiz.de/10011604701