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Leading Indicators of Euroland Business Cycles

Fritsche, Ulrich; Marklein, Felix - EconWPA - 2001

The introduction of a common monetary policy in eleven European countries increased the need for leading indicators for that area. A reliable leading indicator should possess the following properties: (1) The movements in the indicator series should resemble those in the business cycle reference...

Persistent link: https://www.econbiz.de/10005076700

Macroeconomic Policies of the Economic and Monetary Union: Theorectical Underpinnings and Challenges

Arestis, Philip; Sawyer, Malcolm - EconWPA - 2003

decipher the type of economic analysis and macroeconomic policies of the Economic and Monetary Union (EMU) theoretical and … the EMU macroeconomic policies lie in their potential to achieve full employment and low inflation in the euro area. We … conclude that the institutional and policy arrangements surrounding the EMU and the euro are neither adequate for dealing with …

Persistent link: https://www.econbiz.de/10005076715

From Hard Currency Policy to Monetary Union

Handler, Heinz - EconWPA - 2004

changeover in 1999 to EMU and its implications for Austria's economic policy strategy are evaluated. With regard to the critique … that the ECB had no other choice given the credibility gap at the start of EMU and the economic circumstances of the time …

Persistent link: https://www.econbiz.de/10005076802

The role of national central banks within the European System of Central Banks: The example of De Nederlandsche Bank

Wellink, Nout; Chapple, Bryan; Maier, Philipp - EconWPA - 2002

This paper considers the position of national central banks within the ESCB. The funda-mental framework underlying the ESCB is that of a system of central banks in which component institutions are individually and collectively responsible for carrying out vari-ous tasks. Within this framework,...

Persistent link: https://www.econbiz.de/10005076804

Staying Together or Breaking Apart: Policy-Makers’ Endogenous Coalitions Formation in the European Economic and Monetary Union

Bartolomeo, Giovanni Di; Engwerda, Jacob; Plasmans, Joseph - EconWPA - 2003

In this paper, we analyze coordination of macroeconomic stabilization policies within the EMU by focusing, in a dynamic …

Persistent link: https://www.econbiz.de/10005126333

Bad for Euroland, Worse for Germany-The ECB's Record

Bibow, Jorg - EconWPA - 2005

This paper assesses the contribution of the European Central Bank (ECB) to Germany’s ongoing economic crisis, a vicious circle of decline in which the country has become stuck since the early 1990s. It is argued that the ECB continues the Bundesbank tradition of asymmetric policymaking: the...

Persistent link: https://www.econbiz.de/10005412611

Cross-country asymmetries in euro area monetary transmission: the role of national financial systems

Putkuri, Hanna - EconWPA - 2004

Since 1 January 1999 the ECB has conducted a single monetary policy in the euro area, but the mechanisms by which and the extent to which monetary shocks are transmitted into prices and real economic activity may vary from country to country. This paper investigates how and to what extent the...

Persistent link: https://www.econbiz.de/10005412657

Multilateral Aggregation-Theoretic Monetary Aggregation over Heterogeneous Countries

Barnett, William A. - EconWPA - 2004

We derive fundamental new theory for measuring monetary service flows aggregated over countries within a multicountry economic union. We develop three increasingly restrictive approaches: (1) the heterogeneous agents approach, (2) the multilateral representative agent approach, and (3) the...

Persistent link: https://www.econbiz.de/10005412714

Assessing the ECB's Performance since the Global Slowdown A Structural Policy Bias Coming Home to Roost?

Bibow, Jorg - EconWPA - 2004

This paper assesses the ECB’s performance, which the author finds to be seriously lacking but which is of paramount importance to understanding euroland’s ongoing stagnation and fragility. A main finding is that the series of policy blunders which characterized the bank’s conduct features...

Persistent link: https://www.econbiz.de/10005412750

Aggregation-Theoretic Monetary Aggregation over the Euro Area, when Countries are Heterogeneous

Barnett, William A. - EconWPA - 2003

Monetary Union (EMU). We develop three increasingly restrictive approaches: (1) the heterogeneous agents approach, (2) the …

Persistent link: https://www.econbiz.de/10005412834