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The euro bloc, the dollar bloc and the yen bloc : how much monetary policy independence can exchange rate flexibility buy in an interdependent world?

Fratzscher, Marcel (contributor) - 2002

Persistent link: https://www.econbiz.de/10001702791

The role of IMF conditionality for central bank independence

Kern, Andreas; Reinsberg, Bernhard; Rau-Goehring, Matthias - 2020

This paper studies the role of the International Monetary Fund (IMF) in promoting central bank independence (CBI). While anecdotal evidence suggests that the IMF has been playing a vital role for CBI, the underlying mechanisms of this influence are not well understood. We argue that the IMF has...

Persistent link: https://www.econbiz.de/10012271557

Reverse causality in global current accounts

Schnabl, Gunther; Freitag, Stephan - 2010

The paper discusses global imbalances under the aspect of an asymmetric world monetary system. It identifies the US and … current account balance of the euro area has been by and large balanced. The paper finds that changes of world current account … Imbalances ; Asymmetric World Monetary System ; Twin Deficit ; Twin Surplus ; International Currency ; Sterilization ; Granger …

Persistent link: https://www.econbiz.de/10003973544

A new optimum currency area index for the euro area

Kunovac, Davor; Rodriguez Palenzuela, Diego; Sun, Yiqiao - 2022

We propose a new and time-varying optimum currency area (OCA) index for the euro area in assessing the evolution of the OCA properties of the monetary union from an international business cycle perspective. It is derived from the relative importance of symmetric vs. asymmetric shocks that result...

Persistent link: https://www.econbiz.de/10013375123

Business cycle synchronization and insurance mechanisms in the EU

Afonso, António (contributor); Furceri, Davide (contributor) - 2007

In this paper we provide a positive exercise on past business-cycle correlations and risk sharing in the European Union, and on the ability of insurance mechanisms and fiscal policies to smooth income fluctuations. The results suggest in particular that while some of the new Member States have...

Persistent link: https://www.econbiz.de/10003599656

Optimal monetary policy rules for the euro area : an analysis using the area wide model

Dieppe, Alistair (contributor); Küster, Keith (contributor) - 2004

Persistent link: https://www.econbiz.de/10002125159

What effects is EMU having on the euro area and its member countries? : an overview

Mongelli, Francesco Paolo (contributor); … - 2006

This paper addresses the effects of the European Economic and Monetary Union (EMU) since the introduction of the euro -- on economic and financial structures, institutions and performance. What type of changes is the euro fostering? What forces is it setting in motion that were not there before?...

Persistent link: https://www.econbiz.de/10003297555

Endogeneities of optimum currency areas : what brings countries sharing a single currency closer together?

De Grauwe, Paul (contributor); … - 2005

This paper brings together several strands of the literature on the endogenous effects of monetary integration: i.e., whether sharing a single currency may set in motion forces bringing countries closer together. The start of EMU has spurred a new interest in this debate. Four areas are...

Persistent link: https://www.econbiz.de/10002821109

The admission of accession countries to an enlarged monetary union : a tentative assessment

Ca'Zorzi, Michele (contributor); … - 2003

Persistent link: https://www.econbiz.de/10001762876

Exchange rate volatility and growth in small open economies at the EMU periphery

Schnabl, Gunther (contributor) - 2007

Since the introduction of the euro in January 1999, exchange rate stability at the periphery of the euro area is growing. The paper investigates the impact of exchange rate stability on growth for a sample of 41 mostly small open economies at the EMU periphery. It identifies international trade,...

Persistent link: https://www.econbiz.de/10003507015

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