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Completing the Monetary Union of Europe as Mid-term Solution of the Euro Crisis
Fischer, Justina A.V.; Pastore, Francesco - 2015
This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the …
Persistent link: https://www.econbiz.de/10011307457
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The Trade and FDI Effects of EMU Enlargement
Brouwer, Jelle; Paap, Richard; Viaene, Jean-Marie - Tinbergen Institute - 2007
This paper considers the nature and the distribution of trade and FDI effects of a potential enlargement of the European Monetary Union (EMU) to the 10 countries that obtained EU membership in 2004. One-way and two-way error component gravity models are estimated using a data set of unbalanced...
Persistent link: https://www.econbiz.de/10005137357
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The Trade and FDI Effects of EMU Enlargement
Brouwer, Jelle; Paap, Richard; Viaene, Jean-Marie - Tinbergen Instituut - 2007
This paper considers the nature and the distribution of trade and FDI effects of a potential enlargement of the European Monetary Union (EMU) to the 10 countries that obtained EU membership in 2004. One-way and two-way error component gravity models are estimated using a data set of unbalanced...
Persistent link: https://www.econbiz.de/10011257592
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Close Encounters of the European Kind: Economic Integration, Sectoral Heterogeneity and Structural Reforms
Campos, Nauro F.; Eichenauer, Vera Z.; Sturm, Jan-Egbert - 2020
that the euro triggered product but neither labour nor financial market reforms. Differently from previous studies, we find … that: (a) the Single Market has similar effects to the euro, and (b) sectoral heterogeneity appears less important in …
Persistent link: https://www.econbiz.de/10012322505
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Agency and communication in IMF conditional lending: theory and empirical evidence
Marchesi, Silvia; Sabani, Laura; Dreher, Axel - 2009
We focus on the role that the transmission of information between a multilateral (the IMF) and a country has for the optimal design of conditional reforms. Our model predicts that when agency problems are especially severe, and/or IMF information is valuable, a centralized control is indeed...
Persistent link: https://www.econbiz.de/10010269064
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Are the East African Community's Countries Ready for a Common Currency?
Kigabo-Rusuhuzwa, Thomas; Heshmati, Almas - 2022
This paper investigates the East African Community (EAC) partner states' readiness for a common currency. It uses recent data to assess the impact of policy coordination in the region during the last seven years of East African Monetary Union's protocol implementation. Despite some similarities...
Persistent link: https://www.econbiz.de/10013351749
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How Economic, Political and Institutional Factors Influence the Choice of Exchange Rate Regimes? New Evidence from Selected Countries of the MENA Region
Maraoui, Najia; Hadj Amor, Thouraya; Khefacha, Islem; … - 2022
In this paper, we investigate how economic, political and institutional factors affect the choice of exchange rate regimes, using data on eight MENA (Middle East and North Africa) countries over the 1984-2016 period. Specifically, we run random-effects ordered probit regressions of the...
Persistent link: https://www.econbiz.de/10013351773
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Efficiency Gains of a European Banking Union
Schoenmaker, Dirk; Siegmann, Arjen - Tinbergen Instituut - 2013
An anticipated benefit of the prospective European Banking Union is stronger supervision of European banks. Another benefit would be enhanced resolution of banks in distress. While national governments confine themselves to the domestic effects of a banking failure, a European Resolution...
Persistent link: https://www.econbiz.de/10011255493
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Can European Bank Bailouts work?
Schoenmaker, Dirk; Siegmann, Arjen - Tinbergen Instituut - 2012
Cross‐border banking needs cross‐border recapitalisation mechanisms. Each mechanism, however, suffers from the financial trilemma, which is that cross‐border banking, national financial autonomy and financial stability are incompatible. In this paper, we study the efficiency of different...
Persistent link: https://www.econbiz.de/10011255675
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The Importance of Accounting for Time Trends when Estimating the Euro Effect on Trade
Bun, Maurice J.G.; Klaassen, Franc J.G.M. - Tinbergen Instituut - 2003
To study the effect of the euro on international goods trade one typically estimates a panel model for the level of … euro is only present at the end of the sample, this may have led to an upward bias in existing euro estimates to help … have different effects across country-pairs. Data on industrialized countries over 1967-2002 show the existing euro effects …
Persistent link: https://www.econbiz.de/10011255682