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Reforming the architecture of EMU: Ensuring stability in Europe

Haan, Jakob de; Hessel, Jeroen; Gilbert, Niels - de Nederlandsche Bank - 2014

This paper analyses the reforms in the architecture of EMU since the eruption of the euro crisis in 2010. We describe … major weaknesses in the original set-up of EMU, such as lack of fiscal discipline, diverging financial cycles and … weaknesses in the EMU architecture in some way or the other, which is a major achievement. Yet, the effectiveness of the new …

Persistent link: https://www.econbiz.de/10010945595

Reforming the architecture of EMU : ensuring stability in Europe

Haan, Jakob de; Hessel, Jeroen; Gilbert, Niels - 2014

Persistent link: https://www.econbiz.de/10010425557

The European Economic and Monetary Union and Labour Market Reform

ElÅ¼bieta Bednarek-Sekunda; Jong-A-Pin, Richard; … - In: European Union Politics 11 (2010) 1, pp. 3-27

We examine whether the EMU has led to greater labour market flexibility, differentiating between reform that enhances … types of labour market reform are driven by different variables. Most importantly, our results suggest that the EMU has had … increases long-run output suggests that the EMU has not affected this type of reform either. …

Persistent link: https://www.econbiz.de/10009004581

Convergence of Monetary Transmission in EMU New Evidence

Toolsema, Linda A.; Sturm, Jan-Egbert; Haan, Jakob de - CESifo - 2001

This paper examines how the pass-through of monetary policy measures in 6 EMU countries has evolved over time and …

Persistent link: https://www.econbiz.de/10005181532

Is there Really a European Business Cycle?

Inklaar, Robert; Haan, Jakob de - CESifo - 2000

may have important consequences, as existing differences in business cycles in the EMU-countries may not disappear due to …

Persistent link: https://www.econbiz.de/10005405768

Interest Rate Linkages in EMU Countries: A Rolling Threshold Vector Error-Correction Approach

Haan, Jakob de; Poghosyan, Tigran - CESifo - 2007

This paper revisits financial market integration in the European Economic and Monetary Union, using a threshold vector error-correction model (TVECM) for a fixed rolling window. This approach enables us to analyze the dynamics of transaction costs and detect any co-movements with (policy...

Persistent link: https://www.econbiz.de/10005406100

Asymmetric Monetary Transmission in EMU: The Robustness of VAR Conclusions and Cecchetti’s Legal Family Theory

Elbourne, Adam; Haan, Jakob de - CESifo - 2004

We review studies on monetary transmission in the EU countries using the VAR approach and analyse why they often lead to divergent outcomes. Firstly, we estimate 43 VAR models across ten EU countries and compare the robustness of the ranking of the magnitudes of the price and output responses....

Persistent link: https://www.econbiz.de/10005406120

The End of the Stability and Growth Pact?

Haan, Jakob de; Berger, Helge; Jansen, David-Jan - CESifo - 2003

This paper evaluates the Stability and Growth Pact. After examining the rules in place and the experience so far, the Pact is analysed from a political economy perspective, focusing on the choice for so-called soft law and drawing inferences from characteristics of successful fiscal rules at the...

Persistent link: https://www.econbiz.de/10005406264

Restructuring the ECB

Berger, Helge; Haan, Jakob de; Inklaar, Robert - CESifo - 2003

Soon, euro area membership could more than double, with the vast majority of accession countries being quite different in economic terms compared with current members. Under the current decision-making system, this can lead to high decisionmaking costs and there is a risk that monetary policy...

Persistent link: https://www.econbiz.de/10005094278

Is there really a European business cycle?

Inklaar, Robert; Haan, Jakob de - 2000

may have important consequences, as existing differences in business cycles in the EMU-countries may not disappear due to …

Persistent link: https://www.econbiz.de/10009781543