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This paper investigates determinants of convergence in GDP per capita in the euro area and the EU between 1995 and 2021 …-driven persistent divergence in growth. Regression results provide further evidence of convergence in the euro area and the EU over the … growth, especially in euro area countries. …
Persistent link: https://www.econbiz.de/10014334683
leveraging the EFSF/ESM, introducing Eurobonds and a European Troubled Asset Relief Programme (Euro-TARP). However, it is unclear …
Persistent link: https://www.econbiz.de/10010369097
One possible solution to the sovereign debt crisis is the European Redemption Pact (ERP) proposed by the German Council of Economic Experts. The ERP provides sustainable financing conditions for participating sovereigns to facilitate bringing public debt ratios below the reference value of 60%...
Persistent link: https://www.econbiz.de/10010290842
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the bank has put its independence at risk. The bank's vow to do 'whatever it takes' to save the euro has added a second …
Persistent link: https://www.econbiz.de/10011477720
This paper analyses the adjustment mechanism in the euro area prior to the crisis. Results show that the real exchange …
Persistent link: https://www.econbiz.de/10011307030
The eurozone crisis has revealed certain shortcomings of the EMU, such as its vulnerability to asymmetric shocks and … increased since the introduction of the euro, dissimilarities in economic structure combined with high degrees of industrial …
Persistent link: https://www.econbiz.de/10011418796
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There are many reasons to reform the Stability and Growth Pact, but that reform is no panacea. This is because the euro …
Persistent link: https://www.econbiz.de/10013468419