Showing 1 - 10 of 414
There are many reasons to reform the Stability and Growth Pact, but that reform is no panacea. This is because the euro area periphery has increasingly entered a debt conundrum.
Persistent link: https://www.econbiz.de/10013468419
In 2022, the European Central Bank (ECB) introduced the Transmission ProtectionInstrument (TPI) to counter the risk of financial fragmentation following the normalisation ofmonetary policy. The ECB has specified conditions under which the TPI can be activated.This paper examines these conditions...
Persistent link: https://www.econbiz.de/10014459470
This paper investigates determinants of convergence in GDP per capita in the euro area and the EU between 1995 and 2021. It finds that the COVID-19 crisis temporarily slowed convergence but the estimated negative impact is significantly smaller than during the global financial crisis. Diverging...
Persistent link: https://www.econbiz.de/10014334683
The debt crisis of the eurozone revealed a structural problem of the single market rooted in the external imbalance … problem of indebted member states. The assumption of this paper is that the current account imbalances within the eurozone are … based on an intra-eurozone competitiveness disparity originated in the single currency and the heterogeneity of member state …
Persistent link: https://www.econbiz.de/10011773257
if there is a constant hold up of decisions that are in the common interest. On the other hand, with the eurozone having …
Persistent link: https://www.econbiz.de/10011631238
There is a consensus among academics and policymakers that the excess savings built up by households during the past couple of years are specific to the pandemic. Based on data from the past half century for the US, this article shows that savings generally increase during recessions; the...
Persistent link: https://www.econbiz.de/10013343199
Persistent link: https://www.econbiz.de/10010272196
Persistent link: https://www.econbiz.de/10010369111
Persistent link: https://www.econbiz.de/10010270905
With disparities in national unemployment rates reaching record levels, the debate on fiscal stabilisers in Europe has gained new momentum. Can a European unemployment insurance scheme help to absorb asymmetric shocks and bring about the desired level of macroeconomic stabilisation? What should...
Persistent link: https://www.econbiz.de/10010471476