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Why Has the Euro Been Falling? An Investigation into the Determinants of the Exchange Rate

Sinn, Hans-Werner - 2001

nineties and the puzzling decline of the euro during its virtual existence to changes in the demand for deutschmarks in eastern … the dollar and the weakness of the euro reflect the prosperity of the US and the weakness of the European economy on both …

Persistent link: https://www.econbiz.de/10012470368

MPC Heterogeneity in Europe : Sources and Policy Implications

Ampudia, Miguel - 2018

This paper studies household financial choices in four euro area countries. The goal of the analysis is to understand …. The estimation of key parameters uses a simulated method of moments approach to match moments related to asset market … household income and asset market returns, has a differential impact on individuals within and across countries. Generally, poor …

Persistent link: https://www.econbiz.de/10012480733

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

Cooper, Russell - 2005

This paper studies the repayment of regional debt in a multi-region economy with a central authority: who pays the obligation issued by a region? With commitment, a central government will use its taxation power to smooth distortionary taxes across regions. Absent commitment, the central...

Persistent link: https://www.econbiz.de/10012467021

The Minimum Inflation Rate for Euroland

Sinn, Hans-Werner - 2001

As a result of the Balassa effect relative prices change rapidly between and within the euro countries. Thus it is … no country face a deflation. This minimum aggeragate inflation rate is 0.94% in the euro-11 countries and 1.13% in an …

Persistent link: https://www.econbiz.de/10012470644

Establishing a Monetary Union

Cooper, Russell - 1998

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/10012472022

Eurowinners and Eurolosers : The Distribution of Seigniorage Wealth in EMU

Sinn, Hans-Werner - 1997

banks, because the Euro will have to be bought by these banks in exchange for assets which have been accumulated in the …

Persistent link: https://www.econbiz.de/10012472742

Tax Harmonization and Tax Competition in Europe

Sinn, Hans-Werner - 1990

Opening Europe's borders in 1993 makes the allocation of resources more vulnerable to differences in the national tax rates. The first part of the paper demonstrates that direct consumer purchases will imply distortions resulting from diverging VAT rates and it clarifies why the frequently cited...

Persistent link: https://www.econbiz.de/10012475789

The ECB's Fiscal Policy

Sinn, Hans-Werner - 2018

While the ECB helped mitigate the euro crisis in the aftermath of Lehman, it has stretched its monetary mandate and …

Persistent link: https://www.econbiz.de/10012453105

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/10012460750