Similar Search Results

EMU and fiscal discipline : the end of the depreciation threat

Heinemann, Friedrich - 1998

Are the characteristics of the exchange rate regime relevant for the degree of fiscal discipline? What are the conclusions for fiscal behavior in Europe after the transition to EMU? These are the central questions that are analyzed in this paper from a theoretical point of view. After a general...

Persistent link: https://www.econbiz.de/10011441669

The EMU consolidation game - or: does 3.0 really mean 3.0?

Heinemann, Friedrich - 1998

Within the economic profession, it is a widely held view that the fiscal criteria of the Maastricht treaty are arbitrary numbers without economic foundation. Much of this criticism seems to overlook an important aspect - the strategic dimension of the criteria. This paper focuses on one...

Persistent link: https://www.econbiz.de/10011441024

Capital mobility within EMU

Stirböck, Claudia; Heinemann, Friedrich - 1999

in the Eurozone. It is the aim of this paper to assess the likely degree of capital mobility in the FH sense within EMU …

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

Die Theorie der optimalen Währungsräume und die politische Reformfähigkeit : ein vernachlässigtes Kriterium

Heinemann, Friedrich - 1998

In diesem Beitrag wird neben einem kurzen Überblick über die Argumentationsweise und Probleme der Theorie optimaler … vor allem der Lohnflexibilität, aus. Aus dieser Erweiterung der Theorie der optimalen Währungsräume resultiert Skepsis …In this paper, a short survey is given on the contents and some problems of the theory of optimal currency areas. In …

Persistent link: https://www.econbiz.de/10011441036

The political economy of EU enlargement and the Treaty of Nice

Heinemann, Friedrich - 2000

The paper applies standard public choice reasoning to the negotiations on EU enlargement and the Treaty of Nice. The starting point is the assumption that accession can only be successfully completed if the interests of decisive actors in present EU countries are respected. Decisive actors in...

Persistent link: https://www.econbiz.de/10011444905

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 future, its introduction would risk pushing Europe...

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

Public deficits and borrowing costs : the missing half of market discipline

Heinemann, Friedrich; Winschel, Viktor - 2001

EMU driven interest rate convergence has led to a significant reduction of borrowing costs for some European governments in the second half of the nineties. The paper deals with the possible consequences for deficit behaviour. Although the impact of interest rates on deficits is a crucial...

Persistent link: https://www.econbiz.de/10011445942

Sovereign risk premia : the link between fiscal rules and stability culture

Heinemann, Friedrich; Osterloh, Steffen; Kalb, Alexander - 2013 - This version: March 2013

There is a growing empirical literature studying whether fiscal rules reduce borrowing costs. Nevertheless, it remains an open question whether these rules are effective genuinely or just because they mirror fiscal preferences of politicians and voters. In our analysis of European bond spreads,...

Persistent link: https://www.econbiz.de/10009721879

Die Reformperspektive der EU-Finanzverfassung nach den Beschlüssen zur Agenda 2000

Heinemann, Friedrich - 1999

A rational financial constitution of the EU should be able to fulfil redistributive objectives at minimum costs. The present financial system of the Community is not compatible with this requirement. After the decisions of the European Council in Berlin on the Agenda 2000 the fundamental flaw of...

Persistent link: https://www.econbiz.de/10011443326

Who's afraid of an EU tax and why? : revenue system preferences in the European Parliament

Heinemann, Friedrich (contributor); … - 2008

The EU's revenue system is still typical for an organisation based on international cooperation and stands in contrast to the Union's far advanced legislative and political role. This contrast feeds the debate on granting the EU an autonomous tax source. Our contribution explores the factors...

Persistent link: https://www.econbiz.de/10003721754