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the Euro-zone. Moreover, the EMU creates conditions for economic and monetary stability all over Europe which allows for …
Persistent link: https://www.econbiz.de/10009478178
The theory of credibility (George Tavlas) pursues a neoclassical approach, ignoring the demand side. If aggregate offer is the subject of asymmetric shocks, it can no longer be possible to assert the superiority of the fixed rule to discretion, so that giving up currency and currency...
Persistent link: https://www.econbiz.de/10011645301
entry to the euro. We derive conditional probability distributions for the difference between the future realisations of …, Pesaran and Smith (2005). The paper briefly describes the GVAR which has been estimated for 25 countries and the euro area … euro area as a result of entry. It examines the sensitivity of these results to a variety of assumptions about UK entry. …
Persistent link: https://www.econbiz.de/10009442008
after the introduction of the euro for the EMU countries asopposed to the non-EMU countries. I do not obtain strong evidence … supporting PPP forthe EMU countries since the euro adoption, but the faster mean reversion I observe inthe few EMU countries …) countriesthat adopted the euro, and 3 non-EMU countries] from 1993 to 2002 using a dynamicpanel data model. My main contributions to …
Persistent link: https://www.econbiz.de/10009465029
This thesis examines exchange rate exposure of 30 U.S. industries between 1974 and 2008 using traditional and orthogonalized linear models. Similar to the literature, when using traditional linear model we find that exposure is very time dependent and often insignificant. However, we discover...
Persistent link: https://www.econbiz.de/10009475845
This paper reviews recent work on macroeconomic management with varying organization of wage/price bargaining and degrees of credible monetary conservatism. The emerging literature synthesizes and extends theory and empirics on central bank independence (CBI) and coordinated wage/price...
Persistent link: https://www.econbiz.de/10009476726
exchange rate stability constraints imposed by the obligatory participation in the ERM2 on the path to the euro. The modified … policy framework is based on targeting the differential between the domestic and the implicit euro area inflation forecasts …
Persistent link: https://www.econbiz.de/10009476869
In this paper we present an overview of a number of issues relating to the equilibrium exchange rates of transition economies of the former soviet bloc. In particular, we present a critical overview of the various methods available for calculating equilibrium exchange rates and discuss how...
Persistent link: https://www.econbiz.de/10009477512
Straipsnyje nagrinėjamos galimos euro įvedimo Lietuvoje pasekmės bei euro įvedimo strategija. Nurodomi svarbiausi … istoriniai Europos integravimosi momentai, vedę prie Europos pinigų sąjungos susikūrimo. Aptariama tarptautinė euro reikšmė bei … bendrosios valiutos privalumai bei trūkumai. Aptariama Lietuvos strategija bei būtinos priemonės euro įvedimui. …
Persistent link: https://www.econbiz.de/10009478229
Bakalauro baigiamajame darbe nagrinėjamas euro ir JAV dolerio kursas 1999-2011 metais ir jo perspektyvos. Pirmoje … fundamentalioji analizė ir išanalizuoti pagrindiniai makroekonominiai euro zonos ir JAV rodikliai. Nustatyta, kad ilguoju laikotarpiu … regresijos lygtis. Kiti faktoriai, tokie kaip valstybių skolų lygis, palūkanų skirtumai, įtakojo euro-JAV dolerio kursą …
Persistent link: https://www.econbiz.de/10009479209