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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
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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
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Loan Officer Incentives and the Limits of Hard Information
Berg, Tobias - 2013
Poor loan quality is often attributed to loan officers exercising poor judgment. A potential solution is to base loans on hard information alone. However, we find other consequences of bypassing discretion stemming from loan officer incentives and limits of hard information verifiability. Using...
Persistent link: https://www.econbiz.de/10013081841
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Banks and Markets : The Changing Character of European Finance
Zingales, Luigi - 2010
this trend will continue. Based on our analysis, we conjecture that even if Europe might benefit from a continuation of the …, the trend is likely to benefit Southern Europe less than Northern Europe …
Persistent link: https://www.econbiz.de/10012762834
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The Transmission Mechanism of Monetary Policy in Europe : Evidence from Banks' Balance Sheets
Favero, Carlo A.; Giavazzi, Francesco; Flabbi, Luca - 2021
Available studies on asymmetries in the monetary transmission mechanism within Europe are invariably based on macro … study occurred during 1992, when monetary conditions were tightened throughout Europe. Evidence on such tightening is … importance of the Europe and thus on one possibly important source of asymmetries in the monetary transmission mechanism. We do …
Persistent link: https://www.econbiz.de/10013235277
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Automatic Stabilizers and Economic Crisis : Us vs. Europe
Dolls, Mathias - 2010
stabilizers in Eastern and Southern Europe are much lower than in Central and Northern European countries. We also investigate …
Persistent link: https://www.econbiz.de/10013139144
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What is a Sustainable Public Debt?
D'Erasmo, Pablo - 2015
three approaches to analyze debt sustainability in the United States and Europe after the recent surge in public debt …
Persistent link: https://www.econbiz.de/10013015096
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A Long Term Perspective on the Euro
Bordo, Michael D. - 2008
This study grounds the establishment of EMU and the euro in the context of the history of international monetary cooperation and of monetary unions, above all in the U.S., Germany and Italy. The purpose of national monetary unions was to reduce transactions costs of multiple currencies and...
Persistent link: https://www.econbiz.de/10012772728
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Monetary Policy and Performance in the U.S., Japan and Europe, 1973-86
Fischer, Stanley - 2007
Monetary policies in the U.S., Japan, Germany and the United Kingdom over the period 1973-1986 are compared and evaluated, with the aim of drawing lessons for monetary policy from the recent historical record. All four countries shifted during this period to money targeting, though with...
Persistent link: https://www.econbiz.de/10012777224
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Skill of the Immigrants and Vote of the Natives : Immigration and Nationalism in European Elections 2007-2016
Moriconi, Simone - 2018
In this paper we document the impact of immigration at the regional level on Europeans' political preferences as expressed by voting behavior in parliamentary or presidential elections between 2007 and 2016. We combine individual data on party voting with a classification of each party's...
Persistent link: https://www.econbiz.de/10012910650