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Comment on: "How much fiscal discipline in a monetary union?"

Hondroyiannis, George B. - In: Journal of macroeconomics 39 (2014) 2, pp. 361-363

Persistent link: https://www.econbiz.de/10010496466

How much fiscal discipline in a monetary union?

De Grauwe, Paul; Ji, Yuemei - In: Journal of macroeconomics 39 (2014) 2, pp. 348-360

Persistent link: https://www.econbiz.de/10010496474

The Fragility of Two Monetary Regimes : The European Monetary System and the Eurozone

De Grauwe, Paul - 2013

We analyze the similarities and the differences in the fragility of the European Monetary System (EMS) and the Eurozone. We test the hypothesis that in the EMS the fragility arose from the absence of a credible lender of last resort in the foreign exchange markets while in the Eurozone it was...

Persistent link: https://www.econbiz.de/10013074520

European Monetary Union Reform Preferences of French and German Parliamentarians

Blesse, Sebastian - 2019

We analyze data from an author‐conducted survey of members of the French and German parliaments on European Monetary Union reform preferences. We consider three potential drivers of preferences: nationality, ideology, and personal characteristics. For European Monetary Union policies like...

Persistent link: https://www.econbiz.de/10012900533

A Viable Insolvency Procedure for Sovereigns (VIPS) in the Euro Area

Fuest, Clemens - 2014

A mechanism to restructure the debt of an insolvent euro country is a missing element in the emerging institutional architecture of the euro area. The introduction of an insolvency proce-dure for sovereigns faces a dilemma: In the foreseeable future, its introduction would risk pushing Europe...

Persistent link: https://www.econbiz.de/10013048549

Reconciling Insurance with Market Discipline : A Blueprint for a European Fiscal Union

Dolls, Mathias - 2015

This contribution develops a blueprint for a European fiscal union. The proposal addresses the shortcomings of most other reform designs which do not offer a solution for insolvent or non-cooperative euro countries. We suggest a design which combines fiscal insurance with an orderly procedure to...

Persistent link: https://www.econbiz.de/10013018079

The Future of the European Fiscal Union : Survey Results from Members of National Parliaments in France, Italy and Germany

Blesse, Sebastian; Bordignon, Massimo; Boyer, Pierre; … - 2021

of three dimensions on EU and euro area fiscal reform preferences: nationality, political ideology, and populism. We …

Persistent link: https://www.econbiz.de/10013215606

Dispelling the Shadow of Fiscal Dominance? Fiscal and Monetary Announcement Effects for Euro Area Sovereign Spreads in the Corona Pandemic

Havlik, Annika; Heinemann, Friedrich; Helbig, Samuel; … - 2021

We use event study regressions to compare the impact of EU monetary versus fiscal policy announcements on government … bond spreads of ten euro member countries. Our motivation is to evaluate which of the two players – the ECB or the EU … only for the announcement of the ‘Next Generation EU’ program. In contrast, a temporary relaxation of European fiscal rules …

Persistent link: https://www.econbiz.de/10013221648

The Political Economy of Euro Area Sovereign Debt Restructuring

Heinemann, Friedrich - 2021

The establishment of a sovereign debt restructuring mechanism (SDRM) is one of the important issues in the academic debate on a viable constitution for the European Monetary Union (EMU). Yet the topic seems to be taboo in official reform contributions to the debate. Against this backdrop, the...

Persistent link: https://www.econbiz.de/10013248324

Does it Pay to Watch Central Bankers' Lips? The Information Content of Ecb Wording

Heinemann, Friedrich; Ullrich, Katrin - 2008

In this analysis, the informational content of central bank rhetoric is assessed based on the experience with the ECB since 1999. Among the ECB's communication channels we focus on the monthly press conferences. Based on a counting of certain signal words we construct a wording indicator...

Persistent link: https://www.econbiz.de/10014061640