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"This paper deals with potential instabilities in the Eurozone stemming from an insufficient interplay between monetary …
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What political objective should a common central bank in a heterogeneous monetary union pursue? Should it base its decisions on the EU-wide average of inflation and growth or should it instead focus on (appropriately weighted) national rates of inflation and growth? We find that a central bank...
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formal sovereign default with a haircut and debt monetization, which reduces the purchasing power for investors by the same … less effort and financing should be devoted to trying to lower yields on peripheral government debt, but a lender of last … a way that it can survive even if government debt yields increase …
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makroökonomischen Anpassungsprogramme außerhalb der Eurozone (z.B. Lettland) waren noch viel strikter. Trotzdem erfolgte die Anpassung …
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