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The introduction of the euro meant that countries with sovereign debt problems could not use monetisation and … devaluation as a way to prevent default. The institutional structures of the euro were also widely thought to prevent a country in … difficulties being bailed out by other euro members or having its sovereign debt purchased by the ECB. Despite these restrictions …
Persistent link: https://www.econbiz.de/10009774847
Rules of Origin (RoO) are essential components of any preferential trade agreement (PTA) short of a full customs union. The recent proliferation of PTAs has led to increased interest in the effects of RoO with empirical estimates consistently showing that they act as barriers to intra-PTA trade....
Persistent link: https://www.econbiz.de/10009733761
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This paper empirically investigates the transmission of systemic risk across the Euro Area by employing a Global VAR …
Persistent link: https://www.econbiz.de/10012704731
In line with the recent policy discussion on the use of macroprudential measures to respond to crossborder risks arising from capital flows, this paper tries to quantify to what extent macroprudential policies (MPPs) have been able to stabilize capital flows in Central, Eastern and Southeastern...
Persistent link: https://www.econbiz.de/10012510734
The paper looks at two aspects of the Covid-19 pandemic. These are (i) the nature of this event and its implication for evaluating past policy and policy into the future, and (ii) the suitability of proposed changes in the implementation of competition policy affecting firm behaviour, market...
Persistent link: https://www.econbiz.de/10012221295
Over the period 2015-2050 the consumption of natural gas of European OECD countries is expected to grow more than the consumption of any other energy source. Although these countries are interconnected and in most cases share a common currency, their wholesale national gas markets are highly...
Persistent link: https://www.econbiz.de/10012395753
In this paper, we analyze the importance of international banking models, along the operational and the funding dimensions, for the decline in international positions of European banks since the crisis. Using BIS Consolidated Banking Statistics, we find that the multinational model (higher...
Persistent link: https://www.econbiz.de/10012312194
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