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Persistent link: https://www.econbiz.de/10010504914
Was hat der Euro mit griechischer Mythologie zu tun? Ganz einfach: Wie Odysseus dem Klang der Sirenen, so haben die EU-Mitgliedstaaten der Verführungskraft neuer Schulden zu widerstehen. Im Rahmen der aktuellen Politik werden sie jedoch immer wieder schwach. Der neue Chef des ifo Instituts,...
Persistent link: https://www.econbiz.de/10011566235
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The rest of this paper is set up as follows. In section 2 we provide a brief description of the ECB's comprehensive assessment of the European banking system. In section 3 we describe the data we are using and provide some descriptive statistics, particularly regarding the changes between the...
Persistent link: https://www.econbiz.de/10012937723
This paper investigates to what extent the tax and transfer systems in Europe protect households at different income levels against losses in current income caused by economic downturns like the present financial crisis. We use a multi country micro simulation model to analyse how shocks on...
Persistent link: https://www.econbiz.de/10013143688
The current debt crisis has given rise to a debate about deeper fiscal integration in Europe. The view is widespread that moving towards a 'fiscal union' would have a stabilising effect in the event of macroeconomic shocks. In this paper we study the economic effects of introducing two elements...
Persistent link: https://www.econbiz.de/10013105006
The 2008-09 crisis has shown that some euro area member countries were unable to sufficiently stabilize their economies which has given rise to a debate about deeper fiscal integration in Europe. In this paper, we analyze the redistributive and stabilizing effects of two scenarios of fiscal...
Persistent link: https://www.econbiz.de/10013072139
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 proce-dure for sovereigns faces a dilemma: In the foreseeable future, its introduction would risk pushing Europe...
Persistent link: https://www.econbiz.de/10013048549
Convergence is one of the key goals of the European Union and has been at the centre of many recent debates. This paper strives to identify the types of convergence that are pivotal to the well-functioning of the euro area and discusses their role in the context of the EMU's governance...
Persistent link: https://www.econbiz.de/10015285974