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The process of European integration and especially the introduction of the euro as the single currency for up to now 12 … member countries of the EU in 1999 may alter the existing clear currency hierarchy. The euro area is comparable in size to …
Persistent link: https://www.econbiz.de/10005616646
This paper develops an information-based theory of international currency based on search frictions, private trading histories, and imperfect recognizability of assets. Using an open-economy search model with multiple competing currencies, the value of each currency is determined without...
Persistent link: https://www.econbiz.de/10011111179
learned from current monetary unions, especially the euro. Each successive annual edition of this book will be priced in the …
Persistent link: https://www.econbiz.de/10005835646
As globalization continues, businesses are increasingly importing and exporting from countries with different currencies. To conduct that business, they (whether one or both parties) must pay fees for exchanging one currency for another and they must determine the exchange rate for a particular...
Persistent link: https://www.econbiz.de/10005836848
In Italy the rate of growth of GDP has declined over the period 2000-2006, after joining the single currency. The decrease is not incidental, but it has a structural and long-term nature, so this decrease relates to the potential growth. This weakening of growth takes place in an international...
Persistent link: https://www.econbiz.de/10011258338
the euro which has shown the weaknesses of the European institutions and stressed the heterogeneity of member countries …. The global financial crisis struck the euro area very severely because it coincided with the lack of appropriate policy … euro. In the following section it describes the euro crisis and examines the remedies put in place, noting that despite the …
Persistent link: https://www.econbiz.de/10011258694
One solution to the euro crisis as a debt crisis can be found in stimulating economic growth. The Troika has proposed … wages only will not solve the euro crisis. Only in the case of Greece, Europe’s biggest 'problem child', would a general …
Persistent link: https://www.econbiz.de/10011258799
of a future Europe without the Euro as state of political and economic marginalisation. I am contrasting this vision by … demanding European values and civic duties that make the common currency Euro sustainable: solidarity among Europeans and … Euro als Zustand von politischer und wirtschaftlicher Bedeutungslosigkeit. Dagegen stelle ich europäische Werte und …
Persistent link: https://www.econbiz.de/10011259362
The Bank of the Euro, that is the European Central Bank, is the topic of this paper, since on January 1999 started the … European Monetary Union that introduced a single currency, the euro, which in turn will be managed by the European Central Bank … European Central Bank, or the Bank of the Euro, will play effectively and efficiently its role and ensure the stability and …
Persistent link: https://www.econbiz.de/10011201262
This paper addresses the sustainability of government debt in Europe and is motivated by the recent debt increases following the crisis. We evaluate the sustainability in a time frame of ten years in which governments will be able to implement budget rules to get budget deficits under control....
Persistent link: https://www.econbiz.de/10008924824