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TARGET2 imbalances and the need for a lender of last resort
Astarita, Caterina; Purificato, Francesco - Volkswirtschaftliche Fakultät, … - 2013
This paper analyses the issue of the dynamics of the TARGET2 system balances during the sovereign debt crisis. The … sovereign debt crisis, while some countries, among which Germany, registered a decisive inflow of monetary base, some others, as …
Persistent link: https://www.econbiz.de/10011259805
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Euro and the three Cs - competition, competitiveness, convergence
Iordan-Constantinescu, Nicolae - Volkswirtschaftliche Fakultät, … - 2014
The article argues that neither the EU member states, nor the EU candidate states give enough attention to the requirement of maintaining a high economic performance of their economies by convergence and competitiveness strategies, so that they could have "the capacity to cope with competitive...
Persistent link: https://www.econbiz.de/10011108218
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Models of Competitiveness (I)
Dusa, Silvia - Volkswirtschaftliche Fakultät, … - 2014
The current study presents the main models of competitiveness, developed by different organization or institutions, primarily those established by the World Economic Forum, International Institute for Management Development, European Commission and the Institute for Strategy and Competitiveness,...
Persistent link: https://www.econbiz.de/10011110224
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Rating the Rating Agencies
Reinhart, Carmen; Goldstein, Morris; Kaminsky, Graciela - Volkswirtschaftliche Fakultät, … - 2000
In this study, we begin by assessing the ability of sovereign credit ratings to anticipate crises. In addition, given the wave of sovereign credit ratings downgrades that have followed the crises in Asia, we investigate formally the extent to which credit ratings are reactive. Along the way, we...
Persistent link: https://www.econbiz.de/10008531919
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Some Policy Issues Regarding an Early Warning System
Reinhart, Carmen; Goldstein, Morris; Kaminsky, Graciela - Volkswirtschaftliche Fakultät, … - 2000
In focusing on the 24 month window prior to the onset of the crisis, the criteria for ranking the indicators presented in our related work does not distinguish between a signal given 12 months prior to the crisis and one given one month prior to the crisis. In what follows we examine this issue,...
Persistent link: https://www.econbiz.de/10008531924
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Early Warning System: An Assessment of Vulnerability
Reinhart, Carmen; Goldstein, Morris; Kaminsky, Graciela - Volkswirtschaftliche Fakultät, … - 2000
Predicting the timing of currency and banking crises is likely to remain an elusive task for academics, financial market participants, and policymakers. Few foresaw the Asian crises and fewer still could have imagined their severity. However, recent events have highlighted the importance of...
Persistent link: https://www.econbiz.de/10008531929
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Early Warning System: Empirical Results from The Signals Approach
Reinhart, Carmen; Goldstein, Morris; Kaminsky, Graciela - Volkswirtschaftliche Fakultät, … - 2000
The signals approach was applied to 24 of the indicators around the dates of the 29 banking and the 87 currency crises. In what follows, we first compare our results for the 15 original indicators in Kaminsky and Reinhart (1996) to those presented in that study. This exercise assesses the...
Persistent link: https://www.econbiz.de/10008531936
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Zum politischen Machtwechsel in Griechenland. Die Parlamentswahlen von Januar 2015 aus einem kritischen Blickwinkel
Mavrozacharakis, Emmanouil - Volkswirtschaftliche Fakultät, … - 2015
. The Intention of the restructuring program is to lead as soon as possible Greece out from the debt. In fact however the …
Persistent link: https://www.econbiz.de/10011185382
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The Single Global Currency - Common Cents for the World (2007 Edition)
Bonpasse, Morrison - Volkswirtschaftliche Fakultät, … - 2007
increase by about $9 trillion. - Global currency imbalances will be eliminated. - All Balance of Payments problems will be … current monetary unions, especially the euro. Each successive annual edition of this book will be priced in the remaining …
Persistent link: https://www.econbiz.de/10005621973
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Deciphering financial contagion in the euro area during the crisis
Tola, Albi; Wälti, Sébastien - Volkswirtschaftliche Fakultät, … - 2012
Financial market interdependence has been at the epicenter of the crisis in the euro area. This paper tests for the … euro area shocks from country-specific shocks. Financial contagion has been widespread during the crisis in the euro area … between the core and the periphery of the euro area. Global and euro area shocks have been important drivers of sovereign bond …
Persistent link: https://www.econbiz.de/10011114307