We study how differences in the aggregate structure of corporate debt financing affect the transmission of monetary policy. Using high-frequency financial market data to identify monetary policy shocks in a panel of euro area countries, we find that: bond finance dampens the overall response of...

The rise of bond financing in EuropeUsing large panel data of public and private firms, this paper dissects the growth of bond financing in the Euro Area through the lens of the cross-section of issuers. In recent years, the composition of bond issuers has shifted, with the entry of many smaller...

Greece's economy symbolizes in many ways the Eurozone's economic problems and divergent interests as it amasses most of the economic disadvantages characterizing the Eurozone's economy itself. This book presents the economic and political challenges to Greece and the EU member states

Praise for the first edition: 'The new book by Michael Mitsopoulos and Theodore Pelagidis offers insightful analysis of the Greek drama. It makes fascinating reading and well demonstrates that the blame is widely shared.' André Sapir, University Professor, Université libre de Bruxelles,...

Einführung -- Gemeinsamer Markt.- Politische Institutionen der EU -- Europäisches System der Zentralbanken (ESZB) -- Europäische Kohäsionspolitik -- Agrarpolitik -- Koordination der Finanzpolitik - Stabilitäts- und Wachstumspaket -- Europäische Beschäftigungspolitik und die Offene Methode...

Einführung -- Theoretische Grundlagen -- Politische Institutionen der Europäischen Union -- Europäisches System der Zentralbanken (ESZB) -- Europäische Kohäsionspolitik -- Agrarpolitik -- Koordination der Finanzpolitik — Stabilitäts- und Wachstumspakt -- Europäische...

Within the New Consensus Macroeconomics, monetary policy is upgraded while fiscal policy is downgraded. This new monetary policy has been the main instrument of policy under the guise of inflation targeting, an approach pursued by a number of central banks worldwide. This book raises problems...

We characterize the Laffer curves for labor taxation and capital income taxation quantitatively for the US, the EU-14 and individual European countries by comparing the balanced growth paths of a neoclassical growth model featuring "constant Frisch elasticity" (CFE) preferences. We derive...