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Modelling monetary and fiscal governance in the wake of the sovereign debt crisis in Europe

Herzog, Bodo - In: Economies 4 (2016) 2, pp. 1-11

This paper analyzes different government debt relief programs in the European Monetary Union. I build a model and study different options ranging from debt relief to the European Stability Mechanism (ESM). The analysis reveals the following: First, patient countries repay debt, while impatient...

Persistent link: https://www.econbiz.de/10011708718

Germany versus the United States: Monetary Dominance in the Eurozone

Quah, Chee-Heong - In: Economies 4 (2016) 2, pp. 1-16

This study inspects if there is greater convergence with Germany amongst the Eurozone founding members and if their relations with the hegemonic economy have been more symmetrical after "euroization". The dimensions explored are those inspired by the optimum currency areas (OCA) framework. To...

Persistent link: https://www.econbiz.de/10011708719

Convergence and heterogeneity in euro based economies: Stability and dynamics

Haynes, Philip; Haynes, Jonathan - In: Economies 4 (2016) 3, pp. 1-16

euro, from the inception of the currency in 2002 through to 2013. An original applied statistical approach searches for a … points in time of the euro integration process. These hypotheses are tested using the rigour of a bivariate analysis and the … labour productivity. The paper concludes that in the last decade the convergence of countries sharing the euro has been …

Persistent link: https://www.econbiz.de/10011708728

Going forward from B to A? Proposals for the Eurozone crisis

Amato, Massimo; Fantacci, Luca; Papadimitriou, Dimitri B.; … - In: Economies 4 (2016) 3, pp. 1-14

, these processes could help the transition of the euro from its current status of single currency to a status of 'common …

Persistent link: https://www.econbiz.de/10011708730

Money and pay-as-you-go pension

Yasuoka, Masaya - In: Economies 6 (2018) 2, pp. 1-15

This paper presents examination of how a pension policy affects income growth and the inflation rate in a utility model. Even if the contribution rate of pension increases because of an aging society, an aging society increases income growth and the inflation rate. Moreover, this paper presents...

Persistent link: https://www.econbiz.de/10012009824

The formation of new monetary policies: Decisions of central banks on the great recession

Castro, Ana Esther; Teixeira, José Francisco - In: Economies 2 (2014) 2, pp. 109-123

The effect that the Great Recession had on monetary policies has led to the profound reorientation of central banks' actions from 2007 to 2013. The purpose of this work is to analyze the monetary policies applied by the main central banks, mainly the European Central Bank, the Federal Reserve...

Persistent link: https://www.econbiz.de/10011708694

Leaning against the wind policies on Vietnam's economy with DSGE model

Huynh, Phuc; Nguyen, Trang; Duong, Thanh; Pham, Duc - In: Economies 5 (2017) 1, pp. 1-18

The global financial crisis of 2007-2008 had a negative impact on many countries, including Vietnam. Many policies have been applied to stabilize the macro-economic indicators. However, most of them are based on old qualitative models, which do not help policy makers understand deeply how each...

Persistent link: https://www.econbiz.de/10011708742

Reasons fostering or discouraging the implementation of central bank-backed digital currency: A review

Náñez Alonso, Sergio Luis; Echarte Fernández, Miguel … - In: Economies 8 (2020) 2, pp. 1-27

This study analyses the current debate around central bank-backed digital currency (CBDC). A comparative study was carried out considering countries for and against implementing a CBDC and their reasons, looking for common causes, differences, etc. The conclusion was that there are opposite...

Persistent link: https://www.econbiz.de/10013199670

Impact of monetary policy on private investment: Evidence from Vietnam's provincial data

Dang, Thuy T.; Pham, A. D.; Tran, Diem N. - In: Economies 8 (2020) 3, pp. 1-15

This study sheds new light on the relationship between monetary policy and private investment using Vietnam's provincial data and a system generalized method of moment (GMM) framework. To capture monetary policy's effect, different indicators, viz. money supply, domestic credit to the private...

Persistent link: https://www.econbiz.de/10013199699

The impacts of credit standards on aggregate fluctuations in a small open economy: The role of monetary policy

Le, Hai - In: Economies 9 (2021) 4, pp. 1-26

Empirical evidence demonstrates that credit standards, including lending margins and collateral requirements, move in a countercyclical direction. In this study, we construct a small open economy model with financial frictions to generate the countercyclical movement in credit standards. Our...

Persistent link: https://www.econbiz.de/10013199941