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The grand divergence : global and European current account surpluses

Darvas, Zsolt M. - 2015

Global current account imbalances widened before the 2007/2008 crisis and have narrowed since. While the post-crisis adjustment of European current account deficits was in line with global developments (though more forceful), European current account surpluses defied global trends and increased....

Persistent link: https://www.econbiz.de/10011308003

Does money matter in the Euro Area? : evidence from a new Divisia index

Darvas, Zsolt M. - 2014

Standard simple-sum monetary aggregates, like M3, sum up monetary assets that are imperfect substitutes and provide different transaction and investment services. Divisia monetary aggregates, originated from Barnett (1980), are derived from economic aggregation and index number theory and aim to...

Persistent link: https://www.econbiz.de/10010423794

Productivity, labour cost and export adjustment : detailed results for 24 EU countries

Darvas, Zsolt M. - 2012

Persistent link: https://www.econbiz.de/10009564376

EIF Private Debt Survey 2021 : private debt for SMEs : market overview

Krämer-Eis, Helmut; Block, Jörn; Botsari, Antonia; … - 2022

Against the background of the need for alternative and additional financing channels for SMEs in Europe, this paper analyses the market segment of debt funds. It provides a market overview and comprehensive insight into the results of the EIF Private Debt Survey, a new study that provides unique...

Persistent link: https://www.econbiz.de/10012819641

European small business finance outlook ; 2020, September

Kraemer-Eis, Helmut; Botsari, Antonia; Gvetadze, Salome; … - 2020

This working paper provides an overview of the main markets relevant to the EIF, with a particular focus on the impact of COVID-19. It starts by discussing the general market environment, then looks at the main aspects of equity finance and the markets for SME debt products and, finally, it...

Persistent link: https://www.econbiz.de/10012285561

A new look at net balances in the European Union's next multiannual budget

Darvas, Zsolt M. - 2019

pay in more than they receive - rather than on the broader overall positive effects of EU spending. Thelargest net … regressivesystem of revenue corrections.To inform debate on the 2021-2027 EU budget, I estimated the impact on net balances of the 2018 … EU's "operating budgetary balance" indicator, and on the basis of a new and broader indicator, the "net direct balance …

Persistent link: https://www.econbiz.de/10012302015

Divorce settlement or leaving the club? : a breakdown of the Brexit bill

Darvas, Zsolt M.; Efstathiou, Konstantinos; Raposo, … - 2017

could be a prerequisite for the more meaningful discussions on the new EU-UK economic relationship after Brexit, such as ….1 billion, possibly with a large upfront UK payment followed by significant EU reimbursements later. …

Persistent link: https://www.econbiz.de/10011715693

Regional and global financial safety nets : the recent European experience and its implications for regional cooperation in Asia

Darvas, Zsolt M. - 2017

This paper compares financial assistance programmes of four euro-area countries (Greece, Ireland, Portugal, and Cyprus) and three non-euro-area countries (Hungary, Latvia, and Romania) of the European Union in the aftermath of the 2007/08 global financial and economic crisis-which were supported...

Persistent link: https://www.econbiz.de/10011715721

Reform of the European Union financial supervisory and regulatory architecture and its implications for Asia

Darvas, Zsolt M.; Schoenmaker, Dirk; Véron, Nicolas - 2016

markets. However, the policy framework proved inadequate in the context of the major financial crisis in the EU starting in … structural institutional change for the EU, arguably the most significant since the introduction of the euro. Even in its current …

Persistent link: https://www.econbiz.de/10011613840

Institutional investors and home bias in Europ's capital markets union

Darvas, Zsolt M.; Schoenmaker, Dirk - 2017

Integrated capital markets facilitate risk sharing across countries. Lower home bias in financial investments is an indicator of risk sharing. We highlight that existing indicators of equity home bias in the literature suffer from incomplete coverage because they consider only listed equities....

Persistent link: https://www.econbiz.de/10011613999