Showing 1 - 10 of 29
, fluctuations in the Swiss franc against the euro have been surprisingly moderate. The Swiss franc has thus tracked the euro … monetary policy with the new landscape defined by EMU. Four hypotheses of euro tracking are considered. …
Persistent link: https://www.econbiz.de/10011430039
For Matías Vernengo and Esteban Pérez Caldentey (2020), the MMT literature overemphasizes the choice of the exchange rate regime and the relevance of a flexible exchange rate regime, as well as the ultimate effect of that choice upon the policy space. In addition, they argue that the role of...
Persistent link: https://www.econbiz.de/10014581843
Monetary union in Germany as part of the reunification process required a conversion rate between the Deutschmark and the Mark, the currencies of West and East Germany respectively. Flows (in particular wages and pensions) were converted at a rate of 1:1, whilst there were different conversion...
Persistent link: https://www.econbiz.de/10005870598
Der Beitrag analysiert die inner-europäischen Leistungsbilanzungleichgewichte auf der Grundlage der Theorie der optimalen Währungsräume. Wir zeigen, dass die deutsche Wiedervereinigung nicht nur zur EWS-Krise 1992/93 führte, sondern auch der Ursprung der derzeitigen europäischen...
Persistent link: https://www.econbiz.de/10010305581
originated from the financial convergence that followed adoption of the euro. …
Persistent link: https://www.econbiz.de/10011545307
The initial introduction of the euro has, against many expectations, been accompanied by a decline in the value of the … euro (notably vis-à-vis the dollar and sterling). It has also been introduced at a time of high levels of unemployment … the euro, specifically from the policy and institutional arrangements within which the euro is embedded. It is the …
Persistent link: https://www.econbiz.de/10010263262
The effect of the single currency on the Purchasing Power Parity (PPP) hypothesis is examined in this study for the 15 … EU countries, vis a vis the US dollar, before and after the advent of the euro. Standard as well as nonlinear unit root … the introduction of the single currency. Panel unit root (Pesaran, 2007) and stationarity tests (Hadri and Kurozumi, 2008 …
Persistent link: https://www.econbiz.de/10010273678
The standard way today to obtain measures of inflationary expectations is to use questionnaires to ask a representative group of respondents about their beliefs of the future rate of inflation during the coming 12 months. This type of data on inflationary expectations as well as on inflationary...
Persistent link: https://www.econbiz.de/10013208567
This paper investigates trade effects of the euro focusing on the impact on bystanders. A common currency is expected … to lower both variable and fixed trade costs, inducing increased trade flows between currency-union members on both … of the euro on Swedish exports. We consider variations in the impact of the euro taking both firm, industry and export …
Persistent link: https://www.econbiz.de/10013208700
This paper explores the evolution and determinants of public support for the euro since its creation in 1999 until the … end of 2017, thereby covering the pre-crisis experience of the euro, the crisis years and the recent recovery. Using … public support for the euro. First, we find that a majority of respondents support the euro in nearly all 19 euro area member …
Persistent link: https://www.econbiz.de/10013208809