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of the EMU has been hit stronger than the northern part. The common currency prevents nominal exchange rate adjustment in … depreciation. The introduction of a parallel currency in Germany would lead to capital inflows and a real appreciation of the new …
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private international credit and deposit fl ight from the crisis economies is intermediated by central bank credit. Given that …
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Using a novel approach, this paper analyses the deliberately communicated uncertainty of the ECB to the market. Specifically, it semantically analyses the uncertainty expressed in official ECB press statements. The analysis shows how the ECB tries to alert or appease the market with different...
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achieve this without adding further risky assets to the European Central Bank's balance sheet and thereby transferring credit …
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