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Reconciling insurance with market discipline : a blueprint for a European fiscal union

Dolls, Mathias; Fuest, Clemens; Heinemann, Friedrich; … - 2015

other reform designs which do not offer a solution for insolvent or noncooperative euro countries. We suggest a design which … combines fiscal insurance with an orderly procedure to restructure the debt of an insolvent euro member. We show that fiscal …

Persistent link: https://www.econbiz.de/10011300749

Exchange rate regimes and fiscal discipline in OECD countries

Heinemann, Friedrich - 1999

Since the start of EMU national fiscal policy in the Eurozone can be conducted almost without paying any attention to consequences for the exchange rate. This might lower fiscal discipline. In order to shed light on the empirical relevance of this consideration, the impact of the exchange rate...

Persistent link: https://www.econbiz.de/10011442384

Capital mobility within EMU

Stirböck, Claudia; Heinemann, Friedrich - 1999

before the advent of the Euro. …

Persistent link: https://www.econbiz.de/10011442627

Is the view from the Eurotower purely European? : national divergence and ECB interest rate policy

Heinemann, Friedrich; Hüfner, Felix - 2002

The official view on ECB monetary policy claims that monetary decisions are based solely on average data for the euro … reaction function estimations and a probit model of interest rate decisions for the first years of the euro area. The results …

Persistent link: https://www.econbiz.de/10011447829

A viable insolvency procedure for sovereigns (VIPS) in the euro area

Fuest, Clemens; Heinemann, Friedrich; Schröder, Christoph - 2014

A mechanism to restructure the debt of an insolvent euro country is a missing element in the emerging institutional … architecture of the euro area. The introduction of an insolvency procedure for sovereigns faces a dilemma: In the foreseeable … blueprints for sovereign insolvency procedures in the euro area and develops a “Viable Insolvency Procedure for Sovereigns” (VIPS …

Persistent link: https://www.econbiz.de/10010394484

Does it pay to watch central bankers' lips? : The information content of ECB wording

Heinemann, Friedrich (contributor); … - 2005

In this analysis, the informational content of central bank rhetoric is assessed based on the experience with the ECB since 1999. Among the ECB’s communication channels we focus on the monthly press conferences. Based on a counting of certain signal words we construct a wording indicator...

Persistent link: https://www.econbiz.de/10003181015

European Monetary Union reform preferences of French and German parliamentarians

Blesse, Sebastian; Boyer, Pierre C.; Heinemann, Friedrich; … - 2017

This study analyzes results from an original survey of members of the French and German parliaments (Assemblée Nationale, Sénat and Bundestag) on economic policies and institutions of the Eurozone. We find that French politicians are significantly more supportive of Eurobonds, a European...

Persistent link: https://www.econbiz.de/10011754032

European Monetary Union reform preferences of French and German parliamentarians

Blesse, Sebastian; Boyer, Pierre C.; Heinemann, Friedrich; … - 2017 - This version: February 12, 2019

We analyze data from an author‐conducted survey of members of the French and German parliaments on European Monetary Union reform preferences. We consider three potential drivers of preferences: nationality, ideology, and personal characteristics. For European Monetary Union policies like...

Persistent link: https://www.econbiz.de/10011977499