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Europe Needs More than a Capital Markets Union: Focus on the Integration of Euro Area Sovereign Debt Markets

Breitenfellner, Andreas; Schuberth, Helene - In: Vierteljahrshefte zur Wirtschaftsforschung 86 (2017) 2, pp. 9-20

With a view to establishing a Capital Markets Union (CMU), efforts to integrate (private) capital markets and private risk-sharing in the European Union are underway. However, the single (capital) market will be burdened by a perennial potential threat to sovereign bond market stability in the...

Persistent link: https://www.econbiz.de/10012054624

Capital requirements in Pillar 1 or Pillar 2: Does it matter for market discipline?

Witte, Niklas - 2024

The results of this paper provide empirical evidence that regulatory capital ratios drive bank Credit Default Swaps (CDS) and that markets react more to changes in capital requirements if implemented via direct adjustments to Pillar 1 risk weights than imposed as a percentage of Risk-Weighted...

Persistent link: https://www.econbiz.de/10015199475

Real and Financial Integration in Europe - Evidence for the Accession States and for the Pre-Ins

Buch, Claudia M.; Döpke, Jörg - 1999

The process of European integration has gained considerable momentum during the past couple of years. This paper provides an assessment of the degree of integration of both the accession states of central and eastern Europe and of the pre-ins for monetary union with respect to Germany. Using...

Persistent link: https://www.econbiz.de/10010285355

Has expansion of mobile phone and internet use spurred financial inclusion in the SAARC countries?

Lenka, Sanjaya Kumar; Barik, Rajesh - In: Financial Innovation 4 (2018) 1, pp. 1-19

Exclusion from the mainstream financial world is a burden on the poor of many countries. The proliferation of new mobile and online financial services, such as e-banking, money transfers, and payment processing has the potential to provide access to basic financial products and services to...

Persistent link: https://www.econbiz.de/10012602771

Narrative Oekonomik: Europa als "Transferunion" oder "Risikogemeinschaft"? Eine empirische Analyse

Neuberger, Doris; Beretta, Edoardo - 2022

Oekonomische Entwicklungen werden oft durch Narrative, d. h. populaere bzw. allgemein verstaendliche und leicht wiedergebbare Erzaehlungen, Bilder sowie Interpretationen, beeinflusst. In Debatten ueber europaeische Integration, Staatsschuldenkrise und Loesungen zur Bewaeltigung der Coronakrise...

Persistent link: https://www.econbiz.de/10014459455

Paths to Eurobonds

Claessens, Stijn; Mody, Ashoka; Vallee, Shahin - 2012

This paper discusses proposals for common euro area sovereign securities. Such instruments can potentially serve two functions: in the short-term, stabilize financialmarkets and banks and, in the medium-term, help improve the euro area economic governance framework through enhanced fiscal...

Persistent link: https://www.econbiz.de/10010317344

Creating a Euro Area Safe Asset without Mutualizing Risk (Much)

Leandro, Álvaro; Zettelmeyer, Jeromin - 2019

This paper explains and evaluates three proposals to create “safe assets” for the euro area based on sovereign bonds, in which sovereign risk is limited through diversification and some form of seniority. These assets would be held by banks and other financial institutions, replacing...

Persistent link: https://www.econbiz.de/10012052872

The origins of the Platonic approach to monetary systems: Retracing European and Chinese monetary thoughts on Chartalism, Nominalism, and the origins of monetary systems

Tymoigne, Éric - 2024

A monetary approach that combines Chartalism, Nominalism, and Command origins of monetary systems is often deemed to have emerged only recently, while the Aristotelian approach (Commodity, Metallism, and Market origins of monetary systems) is the only one that existed until the end of the...

Persistent link: https://www.econbiz.de/10015189321

Keynes und die Finanzmärkte: Auf halbem Weg vom "homo oeconomicus" zum "homo humanus"

Schulmeister, Stephan - 2019

John Maynard Keynes war ein Ökonom, der stets zwischen der Welt der Theorien und der Realität pendelte, er prüfte und verwarf theoretische Annahmen aufgrund seiner Beobachtungen, die er wiederum als Ausgangspunkte für die Entwicklung neuer Theorien nutzte. Gleichzeitig betrieb er als...

Persistent link: https://www.econbiz.de/10012140970

Public support for institutionalised solidarity: Europeans' reaction to the establishment of eurobonds

Daniele, Gianmarco; Geys, Benny - 2012

, the European Commission's November 2011 Green Paper discussed the introduction of Stability Bonds (or Eurobonds) that … Eurobonds, and the step towards further European fiscal integration they represent. Using a novel dataset derived from the … appear more relevant than self-interest in shaping preferences for/against Eurobonds. However, at the country level, opinion …

Persistent link: https://www.econbiz.de/10010311083