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The East Asian Dollar Standard, Fear of Floating, and Original Sin

McKinnon, Ronald I. - 2007

-crisis levels. By 2002, the day-to-day volatility of each country's exchange rate against the dollar has again become negligible. In …

Persistent link: https://www.econbiz.de/10012729302

Exit strategies from monetary expansion and financial repression

Schnabl, Gunther - In: Monetary policy in an uncertain world : ten years after …, (pp. 105-123). 2018

Persistent link: https://www.econbiz.de/10011994461

Exit strategies from monetary expansion and financial repression

Schnabl, Gunther - In: The Cato journal : an interdisciplinary journal of … 38 (2018) 2, pp. 447-465

Persistent link: https://www.econbiz.de/10011981467

Inter-temporal savings, current account dynamics and asymmetric shocks in a heterogeneous European Monetary Union

Schnabl, Gunther; Zemanek, Holger - 2010

theory of optimum currency areas. We show that the asymmetric shock of the German unification can be seen not only as the … round of monetary expansion in the EMU. -- monetary union ; German unification ; asymmetric shock ; current account … imbalances ; inter-temporal savings ; financial crisis ; euro crisis ; European debt crisis ; theory of optimum currency areas …

Persistent link: https://www.econbiz.de/10008798227

Inter-Temporal Savings, Current Account Dynamics and Asymmetric Shocks in a Heterogeneous European Monetary Union

Schnabl, Gunther - 2013

theory of optimum currency areas. We show that the asymmetric shock of the German unification can be seen not only as the …

Persistent link: https://www.econbiz.de/10013094029

Macroeconomic policy making and current account imbalances in the euro area

Murai, Taiki; Schnabl, Gunther - 2021

The paper analyses the role of fiscal and monetary policy for the development of the current account imbalances in the euro area, including the most recent developments during the coronavirus crisis. Several financial transmission channels such as international bank lending, changes in TARGET2...

Persistent link: https://www.econbiz.de/10012550195

Reverse causality in global current accounts

Schnabl, Gunther; Freitag, Stephan - 2010

The paper discusses global imbalances under the aspect of an asymmetric world monetary system. It identifies the US and Germany as center countries with rising / high current account deficits (US) and surpluses (Germany). These are matched by current account surpluses of countries stabilizing...

Persistent link: https://www.econbiz.de/10009640332

Macroeconomic Policy Making and Current Account Imbalances in the Euro Area

Murai, Taiki; Schnabl, Gunther - 2021

Persistent link: https://www.econbiz.de/10013221180

Reverse Causality in Global Current Accounts

Schnabl, Gunther - 2010

The paper discusses global imbalances under the aspect of an asymmetric world monetary system. It identifies the US and Germany as center countries with rising/high current account deficits (US) and surpluses (Germany). These are matched by current account surpluses of countries stabilizing...

Persistent link: https://www.econbiz.de/10013142986

Fiscal Divergence, Current Account and TARGET2 Imbalances in the EMU

Abad, José M. - 2012

The paper scrutinizes the reasons for the European debt crisis, the implications for TARGET2 imbalances and options for surplus liquidity absorption within an asymmetric EMU. It is argued that starting from the turn of the millennium diverging fiscal policy paths and diverging unit labor costs...

Persistent link: https://www.econbiz.de/10013108357