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Reverse causality in global current accounts
Schnabl, Gunther; Freitag, Stephan - 2010
Germany as center countries with rising / high current account deficits (US) and surpluses (Germany). These are matched by … analysis extends from 1981-2008, the results for Germany mostly capture the situation before the euro was created. - Global …
Persistent link: https://www.econbiz.de/10003973544
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Sudden stops and asset purchase programmes in the euro area
Fabiani, Josefina; Fidora, Michael; Setzer, Ralph; … - 2021
This paper analyses the incidence and severity of sudden stops in euro area countries before and after the introduction of the ECB's asset purchase programmes. We define sudden stops as abrupt declines in private net financial inflows, i.e. total flows adjusted for EU and IMF loans and changes...
Persistent link: https://www.econbiz.de/10012643263
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Towards expenditure rules and fiscal sanity in the euro area
Hauptmeier, Sebastian; Fuentes, Jesus Sanchez; … - 2010
trends. It finds that, all sample countries except Germany applied expansionary expenditure policies. This resulted in much …
Persistent link: https://www.econbiz.de/10008728760
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Towards expenditure rules and fiscal sanity in the euro area
Hauptmeier, Sebastian; Sanchez Fuentes, Jesus; … - 2011
Persistent link: https://www.econbiz.de/10009356898
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The current account and monetary policy in the euro area
Schuler, Tobias; Sun, Yiqiao - 2022
account and interest rate. Examining the VAR impulse responses for Germany, Italy and Spain we find that investment shocks and …
Persistent link: https://www.econbiz.de/10013329445
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The Resilience of Central, Eastern and Southeastern Europe (CESEE) Countries During ECB's Monetary Cycles
Aizenman, Joshua; Saadaoui, Jamel - National Bureau of Economic Research - 2024
variables for financial development, central bank independence, and the inflation rate preceding the cycles. These findings may …
Persistent link: https://www.econbiz.de/10015072898
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Does it pay to have the euro? : Italy's politics and financial markets under the lira and the euro
Fratzscher, Marcel; Stracca, Livio - 2009
's prosperity. The paper focuses on political events in Italy over the past 35 years and asks whether the adoption of the euro in … 1999 has helped insulate Italy's financial markets from the adverse consequences of its traditionally unstable political … system. We find that important political events have exerted a statistically and economically significant effect on Italy …
Persistent link: https://www.econbiz.de/10003867036
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The political economy under monetary union: has the euro made a difference?
Fratzscher, Marcel; Stracca, Livio - 2008
Economic and Monetary Union (EMU) has transformed Europe and has created an integrated pan-European economy. Much research has focused on understanding this integration process and what benefits and costs it entails. This paper identifies a political economy channel of EMU as the monetary union...
Persistent link: https://www.econbiz.de/10003794175
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Nonlinearities in Sovereign Risk Pricing : The Role of CDS Index Contracts
Delatte, Anne-Laure - 2014
Is the pricing of sovereign risk linear during bearish episodes? Or can initial shocks on economic fundamentals be exacerbated by endogenous factors that create nonlinearities? We test for nonlinearities in the sovereign bond market of European peripheral countries during the debt crisis and...
Persistent link: https://www.econbiz.de/10012458679
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Structural asymmetries and financial imbalances in the eurozone
Jaccard, Ivan; Smets, Frank - 2017
major source of cross-country heterogeneity in the eurozone. We develop a two-country model with incomplete international …
Persistent link: https://www.econbiz.de/10011662924