Showing 1 - 10 of 5,759
Persistent link: https://www.econbiz.de/10011948558
Using principal components analysis, I examine capital market integration of 15 industrialized economies from 1875 to 2009. The methodology accounts for several dimensions of integration (markets comovement and segmentation) and delivers more credible conclusions concerning the patterns of...
Persistent link: https://www.econbiz.de/10009785581
We study gains from introducing a common numerical fiscal rule in a “Union” of model economies facing sovereign default risk. We show that among economies in the Union, there is significant disagreement about the common debt limit the Union should implement: the limit preferred by some...
Persistent link: https://www.econbiz.de/10013306767
In this paper, we examine the impact of eurozone membership on sovereign creditworthiness over the period 1996-2017 and the underlying channels through which the impact operates. We find that: (a) eurozone membership improved sovereign credit ratings, on average by over one notch; (b) the...
Persistent link: https://www.econbiz.de/10014263269
Persistent link: https://www.econbiz.de/10012025574
of history confirm the stability of the euro as a single currency in the region and it is seen as a great achievement of …
Persistent link: https://www.econbiz.de/10012212663
Persistent link: https://www.econbiz.de/10012159350
This paper studies the process of business cycle synchronization in the European Union and the euro area. As our … in the core and peripheral members of the euro area. Our analysis of quarterly data covering the first two decades of the … euro area shows that there was a certain synchronization tendency in the first years of the common currency. However, the …
Persistent link: https://www.econbiz.de/10012626655
Persistent link: https://www.econbiz.de/10000964643