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Shocking Aspects of European Monetary Unification

Bayoumi, Tamim - 2007

of adjustment to these shocks are then compared to the results from US regional data. We find that the underlying shocks … are significantly more idiosyncratic across EC countries than across US regions, which may indicate that the EC will find … neighbors, experience shocks of similar magnitude and cohesion as the US regions. EC countries also exhibit a slower response to …

Persistent link: https://www.econbiz.de/10012778838

Mpc Heterogeneity in Europe : Sources and Policy Implications

Ampudia, Miguel - 2018

This paper studies the implications of household financial choices for the effects of monetary policy on consumption. Based on data from four major euro area countries, the paper estimates the key structural parameters using a simulated method of moments approach to match moments related to...

Persistent link: https://www.econbiz.de/10012910644

Establishing a Monetary Union

Cooper, Russell; Kempf, Hubert - 2021

This paper explores the gains to monetary union. We consider a two-country overlapping generations model. Agents work when young and have random tastes over the composition (domestic vs. foreign goods) of old age consumption. In equilibrium, governments require that local currency be used for...

Persistent link: https://www.econbiz.de/10013218515

Benefits and Spillovers of Greater Competition in Europe : A Macroeconomic Assesment

Bayoumi, Tamim; Laxton, Douglas; Pesenti, Paolo A. - 2021

and the US. Second, it may improve macroeconomic management by increasing the responsiveness of wages and prices to market …

Persistent link: https://www.econbiz.de/10013223084

Is Regionalism Simply a Diversion? Evidence from the Evolution of the EC and Efta

Bayoumi, Tamim; Eichengreen, Barry - 2021

This paper considers the impact on trade of preferential arrangements in Europe since the 1950s. Using a first difference version of the gravity model, we find that the EC and EFTA altered the pattern of international trade. We also find evidence of trade diversion in several cases, notably that...

Persistent link: https://www.econbiz.de/10013224188

Is it is or is it Ain't My Obligation? Regional Debt in a Fiscal Federation

Cooper, Russell - 2015

different federations: the US, the European Union and Argentina …

Persistent link: https://www.econbiz.de/10012750657

Is There a Conflict between EC Enlargement and European Monetary Unification?

Bayoumi, Tamim; Eichengreen, Barry - 2022

. This leads us to distinguish an EC "core" (made up of Germany and its immediate neighbors) and an EC periphery (made up of …

Persistent link: https://www.econbiz.de/10013324014

Exit from a Monetary Union Through Euroization : Discipline Without Chaos

Cooper, Russell - 2012

This paper studies the role of exit from a monetary union during a debt crisis. A monetary union, such as the European Monetary Union, needs to establish a procedure for exit as a tool to cope with debt default. The paper studies various forms of exit and argues that "Euroization" is both a...

Persistent link: https://www.econbiz.de/10013109443