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Persistent link: https://www.econbiz.de/10011281613
Persistent link: https://www.econbiz.de/10010389588
We use high-frequency indicators to analyze the economic impact of COVID-19 in Europe and the United States during the early phase of the pandemic. We document that European countries and U.S. states that experienced larger outbreaks also suffered larger economic losses. We also find that the...
Persistent link: https://www.econbiz.de/10012299321
The paper uses survey data to analyze whether financial market expectations on government budget deficits changed in France, Germany, Italy, and the United Kingdom during the period of the Stability and Growth Pact (SGP). Our findings indicate that accuracy of financial expert deficit forecasts...
Persistent link: https://www.econbiz.de/10014412192
We examine patterns of regional adjustments to shocks in the US during the past 40 years. Using state-level data, we estimate the dynamic response of regional employment, unemployment, participation rates and net migration to state-relative labor demand shocks. We find that (i) the long-run...
Persistent link: https://www.econbiz.de/10014411406
We use event study methods to compare the market reaction to U.S. and EU-wide stress tests performed from 2009 to 2013. Typically, stress tests have a positive impact on stressed banks’ returns. While the 2009 U.S. stress test had a large positive outcome, the impact of subsequent U.S....
Persistent link: https://www.econbiz.de/10014412023
size of euro capital markets and the existing roles of European currencies in international capital markets. The paper also … examines the euro’s impact on international securities markets, including the role of the ECB, the evolution of EMU securities …, as are the broader implications of the introduction of the euro for changes in international capital flows, international …
Persistent link: https://www.econbiz.de/10014400521
The success of European Economic and Monetary Union (EMU) will depend on the stability of the euro. The monetary policy … inflation targeting rule that includes output. Implications for the euro as a reserve currency are examined in the light of the …
Persistent link: https://www.econbiz.de/10014400817
The paper compares the degree of capital market integration across euro-area countries with that across regions in … capital flows within the euro area that would entail sizable shifts in countries’ equilibrium current accounts …
Persistent link: https://www.econbiz.de/10014403500
Using symmetric data sets of 92 weekly return observations before and after the introduction of the euro, the paper …
Persistent link: https://www.econbiz.de/10014403627