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nachgegangen, welche Faktoren hinter diesen Unterschieden stehen. Die zentrale Hypothese ist, dass Kultur eine große Rolle spielt … asking how to explain these traditional differences in non-cash payment preferences. Our basic hypothesis is that culture … payment data is gathered with the European Central Bank (ECB) and Eurostat. We examine the impact of culture on payment …
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The fiscal governance of the EMU is in dire need of reform. Its current arrangements suff er from several shortcomings, most notably, the limitations they impose on national fiscal policies, steering them towards too restrictive or pro-cyclical stances; the absence of an unconditional lender of...
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This paper investigates determinants of convergence in GDP per capita in the euro area and the EU between 1995 and 2021. It finds that the COVID-19 crisis temporarily slowed convergence but the estimated negative impact is significantly smaller than during the global financial crisis. Diverging...
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