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Vamvakidis, Athanasios - 2008

The emerging European economies have been converging rapidly towards the more advanced European economies in recent years. However, large external imbalances in parts of the region have raised questions about sustainability and concerns about vulnerabilities. Empirical evidence in this paper...

Persistent link: https://www.econbiz.de/10012677624

The Economics of Sovereign Debt, Bailouts, and the Eurozone Crisis

Gourinchas, Pierre-Olivier - 2023

Cyprus, Greece, Ireland, Portugal, and Spain, ranging from roughly 0.5% (Ireland) to a whopping 43% (Greece) of 2010 output … during the Eurozone crisis. We propose a model to analyze and understand bailouts in a monetary union, and the large observed … bailout was to prevent an exit from the eurozone and possible contagion. Bailouts to avoid sovereign default were …

Persistent link: https://www.econbiz.de/10015059348

Policy Credibility and Sovereign Credit--The Case of New EU Member States

Kumar, Manmohan S. - 2007

References to policy credibility, particularly with regard to fiscal policy, are ubiquitous in both economic literature and financial markets, even though it is not directly observable. The case of the EU new member states (NMS)-emerging markets joining a supranational entity that is generally...

Persistent link: https://www.econbiz.de/10012677845

Price Impacts of Non-Adoption of the Euro for Small European Countries.

Yelten, Sibel - 2006

Intro -- Contents -- I. INTRODUCTION -- II. OPTIMAL CURRENCY AREA LITERATURE BEFORE 1999 -- III. ESTIMATION METHOD FOR SJAASTAD MODEL -- IV. DATA -- V. ESTIMATION RESULTS -- VI. EUROPEAN ECONOMIES BEFORE AND AFTER THE INTRODUCTION OF THE EURO, AND THE BAYOUMI- EICHENGREEN MODEL -- VII....

Persistent link: https://www.econbiz.de/10012690997

Are Weak Banks Leading Credit Booms? Evidence from Emerging Europe

Igan, Deniz - 2008

This paper examines the behavior of bank soundness indicators during episodes of brisk loan growth, using bank-level data for central and eastern Europe and controlling for the feedback effect of credit growth on bank soundness. No evidence is found that rapid loan expansion has weakened banks...

Persistent link: https://www.econbiz.de/10012677467

Common Volatility Trends in the Central and Eastern European Currencies and the Euro.

Pramor, Marcus - 2006

Persistent link: https://www.econbiz.de/10012691001

Maastricht Inflation Criterion : How Unpleasant is Purgatory?

Hurník, Jaromír - 2006

Persistent link: https://www.econbiz.de/10012691039

Macroeconomic Effects of EU Transfers in New Member States

Fund, International Monetary - 2008

Large inflows from the European Union to the New Member States are likely to significantlyimpact macroeconomic outcomes. In this paper, we use the IMF's Global Integrated Monetaryand Fiscal model (GIMF) to analyze the impact of the transfers and show the conditionsunder which they would help...

Persistent link: https://www.econbiz.de/10012677366

Current Account Developments in New Member States of the European Union

Rahman, Jesmin - 2008

This paper analyzes current account (CA) developments in the following 10 new EU members states: Czech Republic, Bulgaria, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia. During the last 15 years, these countries, on average, have run CA deficits that are...

Persistent link: https://www.econbiz.de/10012677571

Wage-Price Setting in New EU Member States

Goretti, Manuela - 2008

This paper analyzes wage- and price-setting relations in new EU member countries. Panel estimates indicate a strong and significant relationship between real wages and labor productivity, as well as evidence of wage pass-through to inflation. Terms of trade shocks do not feed through to real...

Persistent link: https://www.econbiz.de/10012677676

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