Showing 1 - 10 of 31
It is conventionally held that countries are worse off by forming a monetary union when it comes to macroeconomic stabilization. However, this conventional view relies on assuming that monetary policy is conducted optimally. Relaxing the assumption of optimal monetary policy not only uncovers...
Persistent link: https://www.econbiz.de/10011415479
of Asian suppliers and hosts as a result of EU integration deepening and widening in the nineties. Based on recent …), trade resistance factors on the EU import side can be explained mainly by slow growth in Europe in the first half of the … of the Europe Agreements. As trade overlaps between Asian and CEE supply on EU markets are low, the trade diversion fear …
Persistent link: https://www.econbiz.de/10011472114
This paper examines the transition process within Eastern Europe and the integration process with the EU and shows that … the requirements for the transition towards a market economy overlap with the requirements for EU accession. Furthermore … economic development between the Central and Eastern European countries and the EU. The paper argues that the acceding …
Persistent link: https://www.econbiz.de/10011472269
The Eastern enlargement of the European Union (EU) is likely to give a further boost to trade and capital flows, yet … determinants of international asset holdings and trade flows. We find in most regressions that EU membership has a significant … effect. Based on additional simulations of the expected flows to ten transition economies, we conclude that for the EU …
Persistent link: https://www.econbiz.de/10011472489
Der Aufsatz untersucht einige populäre Methoden zur Messung des Output Gaps auf der Basis von aggregierten Daten für die Euro-Zone. Obwohl die Methoden einige wichtige gemeinsame Eigenschaften aufweisen, zeigen sie auch erhebliche Unterschiede; insbesondere ist die Korrelation zwischen...
Persistent link: https://www.econbiz.de/10011473858
The EU has recently entered accession talks with five transition economies of eastern Europe. Membership in the EU … and investment. A comparison with the southern members of the EU shows that the countries under review have reached a …
Persistent link: https://www.econbiz.de/10011474898
The process of European integration has gained considerable momentum during the past couple of years. This paper provides an assessment of the degree of integration of both the accession states of central and eastern Europe and of the pre-ins for monetary union with respect to Germany. Using...
Persistent link: https://www.econbiz.de/10011474986
The introduction of the euro marks a milestone in the process of European financial market integration. This paper analyzes the implications of the euro for cross-border banking activities. A portfolio model is used which captures the role of banks as providers of informational and of...
Persistent link: https://www.econbiz.de/10011475635
A small expectations-expanded "Mundell-Fleming" model is built for the European Union Accession Countries and estimated to assess the optimality of different exchange rate regimes (a peg and a float) through a simple welfare function. Floating appears as the best option for most of the countries...
Persistent link: https://www.econbiz.de/10011475894
We examine the indicator property of the monetary indicator for inflation. Using a P*-model, Svensson shows theoretically in a recent paper that the relationship between these two variables is rather tenuous. The present study employs empirical evidence on the relations in his model to quantify...
Persistent link: https://www.econbiz.de/10011476494