Narrow search
Showing 1 - 10 of 24,291
Cover Image
Inter-temporal savings, current account dynamics and asymmetric shocks in a heterogeneous European Monetary Union
Schnabl, Gunther; Zemanek, Holger - 2010
theory of optimum currency areas. We show that the asymmetric shock of the German unification can be seen not only as the … round of monetary expansion in the EMU. -- monetary union ; German unification ; asymmetric shock ; current account … imbalances ; inter-temporal savings ; financial crisis ; euro crisis ; European debt crisis ; theory of optimum currency areas …
Persistent link: https://www.econbiz.de/10008798227
Cover Image
Inter-Temporal Savings, Current Account Dynamics and Asymmetric Shocks in a Heterogeneous European Monetary Union
Schnabl, Gunther - 2013
theory of optimum currency areas. We show that the asymmetric shock of the German unification can be seen not only as the …
Persistent link: https://www.econbiz.de/10013094029
Cover Image
Macroeconomic Adjustment to Monetary Union
Fagan, Gabriel - 2008
The move to monetary union in Europe led to convergence of interest rates among the participating countries. This was associated with notable cross-country differences in the behaviour of key macroeconomic aggregates. Compared to the low interest rate countries, former high interest rate...
Persistent link: https://www.econbiz.de/10012770251
Cover Image
The grand divergence : global and European current account surpluses
Darvas, Zsolt - 2015
Highlights * Global current account imbalances widened before the 2007/2008 crisis and have narrowed since then. While the post-crisis adjustment of European current account deficits was in line with global developments (though more forceful), European current account surpluses defied global...
Persistent link: https://www.econbiz.de/10011317114
Cover Image
Productivity Differentials and External Balance in Erm Ii
Henriksson, Marketta - 2005
Differences in growth, productivity and inflation levels are going to be a prominent feature of the future of EMU, as the convergence process is still ongoing in the new Member States. This convergence process can be described by the Balassa-Samuelson proposition, which states that faster growth...
Persistent link: https://www.econbiz.de/10014062951
Cover Image
German wage moderation and European imbalances : feeding the Global VAR with theor
Bettendorf, Timo; León-Ledesma, Miguel A. - 2015
bargaining shock. We then impose these restrictions on a Global VAR consisting of Germany and 8 EMU countries to identify a wage … bargaining shock in Germany. Our results show that, although the German current account was significantly affected by wage …
Persistent link: https://www.econbiz.de/10010532618
Cover Image
What Drives EMU Current Accounts? A Time Varying Structural VAR Approach
Podstawski, Maximilian - 2016
Current account imbalances have been a decisive feature of the European banking and sovereign debt crisis. This paper investigates the drivers of euro area current accounts, their divergence and subsequent rebalancing, within a structural model accommodating potential regime changes at the...
Persistent link: https://www.econbiz.de/10012992498
Cover Image
Output smoothing in EMU and OECD : can we forego government contribution? : a risk sharing approach
Marinheiro, Carlos Fonseca - 2003
This paper analyses the smoothing of asymmetric shocks to output for a sample of OECD countries. It also examines whether the private capital markets will be able to replace the government in providing output smoothing in the euro-area, in the near future. The research finds no evidence of large...
Persistent link: https://www.econbiz.de/10011509508
Cover Image
Cyclical drivers of euro area consumption : what can we learn from durable goods?
Casalis, André; Krustev, Georgi - 2020
strength of spillovers from durable to nondurable consumption, as predicted by theory, is empirically correlated with how much …
Persistent link: https://www.econbiz.de/10012197836
Cover Image
Output Smoothing in Emu and OECD : Can We Forego Government Contribution? A Risk Sharing Approach
Marinheiro, Carlos Fonseca - 2021
This paper analyses the smoothing of asymmetric shocks to output for a sample of OECD countries. It also examines whether the private capital markets will be able to replace the government in providing output smoothing in the euro-area, in the near future. The research finds no evidence of large...
Persistent link: https://www.econbiz.de/10013319692