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, Europäische Zentralbank, haben der Euro und die gemeinsame europäische Geldpolitik in den letzten zehn Jahren eine Entwicklung … Quaisser die Tagung "Zehn Jahre Euro - Bewährung in der Finanzkrise" statt. Einige der dort vorgestellten Referate sind hier … Geldpolitik der Europäischen Zentralbank auseinander. Es sei die Frage zu stellen, ob die EZB nicht im Windschatten der Fed über …
Persistent link: https://www.econbiz.de/10011692881
quasi-fiscal rescue operations can undermine this consensus and lead to a disintegration of the Eurozone. There are also …
Persistent link: https://www.econbiz.de/10011430901
Persistent link: https://www.econbiz.de/10014306479
In this paper, we provide evidence on the nature and the relative importance of domestic and foreign shocks in Slovak economy based on block-restriction vector autoregression model in 1999-2007. We document well-functioning monetary transmission mechanism in Slovakia. Subject to various...
Persistent link: https://www.econbiz.de/10010322189
After almost four decades of price stability, inflation has recently approached historical highs. Initially driven by global energy and food price increases, the magnitude of the surge in inflation caught central banks and markets by surprise. Price pressures are now increasingly broadening to...
Persistent link: https://www.econbiz.de/10014334696
Persistent link: https://www.econbiz.de/10014334698
side or a state behind it, just as the euro, Europe's common currency that the ECB is tasked with guarding, is a … 'denationalised' currency. The euro area is a rare exception to the global 'one state, one currency' rule. But the ECB is not the only … central bank in the euro area. Rather, the ECB is designed as the headquarters (or perhaps 'cockpit') of the Eurosystem, the …
Persistent link: https://www.econbiz.de/10014565903
eminently. The euro has proven credible both in the countries that officially adopted it and in the countries that adopted it … facilitate the accession of willing EU members to the euro by relaxing the ERM II conditions. …
Persistent link: https://www.econbiz.de/10011430838
Existing work on wage bargaining (as exemplified by Cukierman and Lippi, 2001) typically predicts more aggressive wage setting under monetary union. This insight has not been confirmed by the EMU experience, which has been characterised by wage moderation, thereby eliciting criticism from Posen...
Persistent link: https://www.econbiz.de/10011605104
This paper analyzes the dynamic effects of anticipated monetary and fiscal policies in a large monetary union, which is characterized by asymmetric interest rate transmission. We explicitly solve the asymmetric three-country model using the decomposition methods of Aoki (1981) and Fukuda (1993)....
Persistent link: https://www.econbiz.de/10010296252