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Sources of euro real exchange rate fluctuations : what is behind the euro weakness in 1999-2000?

Döpke, Jörg; Gottschalk, Jan; Kamps, Christophe - 2001

This paper analyzes the factors underlying the weakness of the euro. For this purpose, the framework advocated by Clarida and Gali (1994) is used. Within this model, three structural shocks drive the dynamics of the endogenous variables: aggregate supply shocks, aggregate spending shocks, and...

Persistent link: https://www.econbiz.de/10011473872

Does the dispersion of unit labor cost dynamics in the EMU imply long-run divergence? : results from a comparison with the United States of America and Germany

Dullien, Sebastian; Fritsche, Ulrich - 2007

Using unit labor cost (ULC) data from Euro area countries as well as US States and German Länder we investigate inflation convergence using different approaches, namely panel unit root tests, cointegration tests and error-correction models. All in all we cannot reject convergence of ULC growth...

Persistent link: https://www.econbiz.de/10010426361

Regional heterogeneity, the rise of public debt and monetary policy in post-bubbles Japan : lessons for the EMU

Fischer, Raphael; Schnabl, Gunther - 2016

Both Japan and parts of the European Monetary Union have experienced boom and bust in stock and real estate markets … public debt and monetary policy in the context of crisis. It is shown for Japan that the attempts to maintain regional … expansion. Econometric estimations show that in Japan regional redistribution of funds has ensured homogeneous living conditions …

Persistent link: https://www.econbiz.de/10011476067

Risk sharing in the EMU : a time-varying perspective

Foresti, Pasquale; Napolitano, Oreste - In: Journal of common market studies : JCMS 60 (2022) 2, pp. 319-336

Persistent link: https://www.econbiz.de/10012820575

Narrowing the US twin deficits: simulations with a world macroeconometric model

Bagnai, Alberto; Galli, Silvia; Pierucci, Eleonora; … - EconWPA - 2004

particular, on the Euro area and Japan). …

Persistent link: https://www.econbiz.de/10005556489

Ten years of European Monetary Union: What's gone right and What's gone wrong

Kenen, Peter B. - In: International Journal of Economics and Business Research 2 (2010) 1/2, pp. 6-9

In 1991, the European Union undertook to form a full-fledged monetary union. It established the European Monetary Union with a European Central Bank (ECB) at its apex and a mandate to pursue price stability. The European regime differs from the US Federal Reserve System, which must pursue high...

Persistent link: https://www.econbiz.de/10010669628

Looking backwards and living forwards: the EMU and the history of monetary unions in Western Europe

Barbezat, Daniel - In: International Journal of Economics and Business Research 2 (2010) 1/2, pp. 10-30

European monetary history prior to 1950 presents many attempts at international monetary coordination, but none were as bold and as far reaching as the European Monetary Union envisioned in the Delors Report of 1989 and enacted through the 1991 Treaty on the European Union in Maastricht. This...

Persistent link: https://www.econbiz.de/10010669631

Transatlantic monetary and fiscal policy interaction

Aarle, Bas van; Garretsen, Harry; Huart, Florence - 2003

This paper studies the design, effects and interactions of monetary and fiscal policies in the euro-area and between the euro-area and the non euro-area. To do so, a stylized three-country model of monetary and fiscal policy rules is constructed. It is analyzed how monetary and fiscal rules...

Persistent link: https://www.econbiz.de/10011509484

On the origins of the Franco-German EMU controversies

Maes, Ivo - 2002

postwar period, there were significant differences in ideas and economic policy-making in Germany and France. France was … dominated by the "tradition républicaine", giving a central role to the state in economic life. In Germany, the federal …

Persistent link: https://www.econbiz.de/10011506556

Germany versus the United States : monetary Dominance in the Eurozone

Quah, Chee Heong - In: Economies : open access journal 4 (2016) 2, pp. 1-16

This study inspects if there is greater convergence with Germany amongst the Eurozone founding members and if their … significantly endogenous. At the same time, to assess the relative dominance of Germany, the features against Germany are compared … remarkable convergence with Germany and across the states but also relative convergence with US. On economic erformance, results …

Persistent link: https://www.econbiz.de/10011499412