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Persistent link: https://www.econbiz.de/10011689933
1998 as conditions shaping the cycle remain favorable. Real GDP in Western Europe will increase by 3 percent in 1998. Under … consequence, monetary policy in Western Europe on average will be further loosened. This will additionally stimulate economic … activity but also raise risks of inflation. The major problem in Western Europe is unemployment, which remains stubbornly high …
Persistent link: https://www.econbiz.de/10010295104
2003 marks the 40th anniversary of the founding of SUERF. To mark this milestone, some time ago the Council of Management commissioned Professor Jean-Paul Abraham to write a commemorative report. His mandate was not to write a history of SUERF itself (that would be too self-indulgent) but to...
Persistent link: https://www.econbiz.de/10011689909
Growth: Financing New Growth in Europe” at Bocconi University, Milan. The present SUERF Study includes a selection of papers …
Persistent link: https://www.econbiz.de/10011689965
properties of each single parameter in a DSGE model separately. In the case of France, Germany, and Italy our results point to … behavior for France, Italy, and Spain, while monetary policy in Germany seems to be stable over time. …
Persistent link: https://www.econbiz.de/10010294717
This paper uses a semi-structural dynamic modelling approach to investigate asymmetric monetary transmission in Europe … simultaneously estimated for France, Germany, and Italy. Extensive cross equation tests show that relatively large differences in … major EMU countries. However, monetary policy impulses show a relatively stronger effect on the output gap in Italy and …
Persistent link: https://www.econbiz.de/10010301283
This paper estimates the pass-through and speed of adjustment of Italian regional interest rates to changes in the money market rate for the period 1998Q1-2009Q4. Our main findings suggest that the markup for the lending rates that banks charge are generally higher in the South than in the...
Persistent link: https://www.econbiz.de/10010319697
The Asian financial crisis (1997) and the European crisis (2009) have both contributed to the development and deepening of regional safety net arrangements. This paper analyses the relationships between global and regional financial safety nets, and uncovers the potential tensions and...
Persistent link: https://www.econbiz.de/10011420994
This paper discusses the global financial crisis of 2008/9 in thirteen countries, the ten new EU members that previously were communist and the three countries of Western former Soviet Union. Their problems were excessive current account deficits and private foreign debt, currency mismatches,...
Persistent link: https://www.econbiz.de/10011430838
The increasing occurrence of national, regional, and global financial crises, together with their rising costs and complexity, have increased calls for greater regional and global monetary cooperation. This is particularly necessary in light of volatile capital flow movements that can quickly...
Persistent link: https://www.econbiz.de/10010397311