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Interdependence between the euro area and the US: what role for EMU?
Ehrmann, Michael; Fratzscher, Marcel - European Central Bank - 2002
This paper investigates whether the degree and nature of interdependence between the United States and the euro area … States and the euro area. The paper finds that the interdependence of money markets has steadily increased over time, with …
Persistent link: https://www.econbiz.de/10005530902
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Exchange rates and fundamentals: new evidence from real-time data
Ehrmann, Michael; Fratzscher, Marcel - European Central Bank - 2004
This paper analyses the link between economic fundamentals and exchange rates by investigating the importance of real-time data. We find that such economic news in the United States, Germany and the euro area have indeed been a driving force behind daily US dollar – euro/DEM exchange rate...
Persistent link: https://www.econbiz.de/10005070386
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Equal size, equal role? Interdependence between the euro area and the United States
Ehrmann, Michael; Fratzscher, Marcel - European Central Bank - 2004
This paper investigates whether the degree and the nature of economic and monetary policy interdependence between the … interest rates in the United States and the euro area. First, the paper finds that the interdependence of money markets has …. This indicates that the higher money market interdependence between the United States and the euro area is at least partly …
Persistent link: https://www.econbiz.de/10005070391