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Is There a Common European Business Cycle? New Insights from a Frequency Domain Analysis
Breitung, Jörg; Candelon, Bertrand - In: Vierteljahrshefte zur Wirtschaftsforschung 70 (2001) 3, pp. 331-338
einige schwache Anzeichen für ein gemeinsames Konjunkturmuster für Frankreich, die Niederlande, Österreich und Deutschland … clearly rejected for U.K. data whereas some weak evidence for a joint cyclical pattern is found for France, The Netherlands …, Austria and Germany. …
Persistent link: https://www.econbiz.de/10010377545
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The French block of the ESCB multi-country model
Boissay, Frédéric; Villetelle, Jean-Pierre - 2005
collaboration by the ECB and the Banque de France. The theoretical structure of the model is in line with most current …
Persistent link: https://www.econbiz.de/10011604502
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Country and industry equity risk premia in the euro area: an intertemporal approach
Cappiello, Lorenzo; Lo Duca, Marco; Maddaloni, Angela - 2008
This paper provides new evidence on the dynamics of equity risk premia in euro area stock markets across country and industry portfolios. We develop and estimate a conditional intertemporal CAPM where returns on aggregate euro area, country and industry portfolios depend on the market risk as...
Persistent link: https://www.econbiz.de/10011604959
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Futures contract rates as monetary policy forecasts
Ferrero, Giuseppe; Nobili, Andrea - 2008
The prices of futures contracts on short-term interest rates are commonly used by central banks to gauge market expectations concerning monetary policy decisions. Excess returns - the difference between futures rates and the realized rates - are positive, on average, and statistically...
Persistent link: https://www.econbiz.de/10011605025
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Differences between Financial Systems in Europe: Consequences for EMU
Schmidt, Reinhard H. - 1999
, Germany and the United Kingdom differ most with respect to their financial systems, the present paper addresses its topic … system, the author shows that there are indeed profound differences between the national financial systems of Germany and the … sector. In Germany, the central bank has a stronger influence on the financial sector than in England, while, for systemic …
Persistent link: https://www.econbiz.de/10010316251
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OMT-Urteil des Bundesverfassungsgerichts: Pro&Contra
Konrad, Kai A.; Winkler, Adalbert - In: Wirtschaftsdienst 94 (2014) 3, pp. 154-155
Persistent link: https://www.econbiz.de/10010368618
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European Currency Union and Rule of Law
Seidel, Martin - In: CESifo DICE Report 10 (2012) 3, pp. 36-43
Persistent link: https://www.econbiz.de/10011696790
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Propping up Europe?
Pisani-Ferry, Jean; Wolff, Guntram B. - 2012
The Bank of England, the Federal Reserve (Fed) and the European Central Bank (ECB) have responded to the crisis with exceptional initiatives resulting in a major increase in their balance sheets. After the ECB's end-2011 launch of three-year bank refinancing (LTRO), there has been speculation...
Persistent link: https://www.econbiz.de/10010293582
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A new approach to measuring competition in the loan markets of the euro area
van Leuvensteijn, Michiel; Bikker, Jacob A.; van … - 2007
, whereas overall loan markets in Germany and Spain were among the best competitive in the EU. The Netherlands occupied a more …, particularly in Germany and the US, than savings and cooperative banks. …
Persistent link: https://www.econbiz.de/10011604814
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Joint estimation of the natural rate of interest, the natural rate of unemployment, expected inflation, and potential output
Benati, Luca; Vitale, Giovanni - 2007
We jointly estimate the natural rate of interest, the natural rate of unemployment, expected inflation, and potential output for the Euro area, the United States, Sweden, Australia, and the United Kingdom. Particular attention is paid to time-variation in (i) the data-generation process for...
Persistent link: https://www.econbiz.de/10011604843