Similar Search Results

Conditional PPP and Real Exchange Rate Convergence in the Euro Area

Bergin, Paul R. - 2016

While economic theory highlights the usefulness of flexible exchange rates in promoting adjustment in international relative prices, flexible exchange rates also can be a source of destabilizing shocks. We find that when countries joining the euro currency union abandoned their national exchange...

Persistent link: https://www.econbiz.de/10012998959

The European Union, the Euro, and Equity Market Integration

Bekaert, Geert - 2010

At a time of historic challenges to the viability of the Eurozone, we assess the contribution of the EU and the Euro to … segmentation is significantly lower for EU versus non- EU members. Bilateral valuation differentials remain lower for EU members …, financial regulation, and interest rate differences. Importantly, we find that EU membership reduces equity market segmentation …

Persistent link: https://www.econbiz.de/10013135396

Has the European Union Achieved a Single Pharmaceutical Market?

Timur, Aysegul - 2010

This paper explores price differences in the European Union (EU) pharmaceutical market, the EU's fifth largest industry …. With the aim of enhancing quality of life along with industry competitiveness and R&D capability, many EU directives have … been adopted to achieve a single EU-wide pharmaceutical market. Using annual 1994-2003 data on prices of molecules that …

Persistent link: https://www.econbiz.de/10013139285

The Euro and European Economic Conditions

Feldstein, Martin S. - 2011

The creation of the euro should now be recognized as an experiment that has led to the sovereign debt crisis in several countries, the fragile condition of major European banks, the high levels of unemployment, and the large trade deficits that now exist in most Eurozone countries. Although the...

Persistent link: https://www.econbiz.de/10013118129

How Do Monetary and Fiscal Policy Interact in the European Monetary Union?

Canzoneri, Matthew B. - 2012

Formation of the Euro area raises new questions about the coordination of monetary and fiscal policy. Using a New Neoclassical Synthesis (NNS) model, we show that a common monetary policy, responding to area-wide aggregates, has asymmetric effects on countries within the union, depending on...

Persistent link: https://www.econbiz.de/10013100660

A Tale of Politically-Failing Single-Currency Area

Razin, Assaf - 2012

and recovery patterns for key EU members like Germany and France, within the Eurozone, were similar. However, after the … system than the Eurozone politically weakly integrated system. The disparity is traced to the EU's and Eurozone's special …

Persistent link: https://www.econbiz.de/10013100996

Comparative Advantage and the Welfare Impact of European Integration

Levchenko, Andrei A. - 2012

This paper investigates the welfare gains from European trade integration, and the role of comparative advantage in determining the magnitude of those gains. We use a multisector Ricardian model implemented on 79 countries, and compare welfare in the 2000s to a counterfactual scenario in which...

Persistent link: https://www.econbiz.de/10013106647

Coordination in the European Union

Feldstein, Martin S. - 2013

This paper examines the sources of current conflict within the EU and the EMU. The topics discussed include the recent …

Persistent link: https://www.econbiz.de/10013089018

Currency Unions and Trade : A Post-Emu Mea Culpa

Glick, Reuven - 2015

In our European Economic Review (2002) paper, we used pre-1998 data on countries participating in and leaving currency unions to estimate the effect of currency unions on trade using (then-) conventional gravity models. In this paper, we use a variety of empirical gravity models to estimate the...

Persistent link: https://www.econbiz.de/10013015976

What Lies Beneath the Euro's Effect on Financial Integration : Currency Risk, Legal Harmonization, or Trade?

Kalemli-Ozcan, Sebnem - 2010

Although recent research shows that the euro has spurred cross-border financial integration, the exact mechanisms remain unknown. We investigate the underlying channels of the euro's effect on financial integration using data on bilateral banking linkages among twenty industrial countries in the...

Persistent link: https://www.econbiz.de/10013152591