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Target-Kredite, Leistungsbilanzsalden und Kapitalverkehr: Der Rettungsschirm der EZB
Sinn, Hans-Werner; Wollmershäuser, Timo - In: ifo Schnelldienst 64 (2011) Sonderausgabe Juni 2011, pp. 1-29
Target-Kredite im Eurosystem – Die Stellungnahmen der Bundesbank – Was sind Target-Salden? – Kreditverlagerung – Zur ökonomischen Interpretation der Kreditverlagerung – Target-Kredite, Leistungsbilanz und Kapitalverkehr – Fünf vor zwölf – Target-Salden in den USA – Anhang:...
Persistent link: https://www.econbiz.de/10011693126
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The Eurozone 'Debt' Crisis : Another 'Center' – 'Periphery' Crisis Under Financial Globalization?
O'Connell, Arturo - 2016
largely fund themselves in international financial markets so that their lending – providing purchasing power to finance … institutions provide some fraction of the debt service to borrowing governments in the form of new debt, for them to add to the …
Persistent link: https://www.econbiz.de/10012978352
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The Implications of TARGET2 in the European Balance of Payments Crisis and Beyond
Cesaratto, Sergio - 2015
The paper provides an account of the meaning and implications of TARGET2 in the eurozone (EZ) balance of payments crisis. In this context, it discusses Hans-Werner Sinn's thesis about a stealth bail-out of the EZ periphery by the ECB from a heterodox perspective. Financial liberalisation, a...
Persistent link: https://www.econbiz.de/10013017589
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Current Account Adjustment in EU Countries : Does Euro-Area Membership Make a Difference?
Herrmann, Sabine - 2016
The paper evaluates current account dynamics in countries with different exchange rate regimes within the EU. In this, the empirical analysis explicitly differentiates between countries with a flexible and a fixed exchange rate regime and members of a monetary union. In addition, we model the...
Persistent link: https://www.econbiz.de/10012988643
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Current account adjustment in EU countries : does euro-area membership make a difference?
Herrmann, Sabine; Jochem, Axel - 2013
The paper evaluates current account dynamics in countries with different exchange rate regimes within the EU. In this, the empirical analysis explicitly differentiates between countries with a flexible and a fixed exchange rate regime and members of a monetary union. In addition, we model the...
Persistent link: https://www.econbiz.de/10010211960
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Regional and global financial safety nets : the recent European experience and its implications for regional cooperation in Asia
Darvas, Zsolt M. - 2017
/08 global financial and economic crisis-which were supported by the International Monetary Fund (IMF) and various European …, such as the size of imbalances, financing, unique cooperation of the IMF and various European facilities, and membership of …, including the coexistence of the IMF and regional safety nets, cooperation issues, systemic spillovers, and social implications …
Persistent link: https://www.econbiz.de/10011715721
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Regional and global financial safety nets : the recent European experience and its implications for regional cooperation in Asia
Darvas, Zsolt M. - 2017
/08 global financial and economic crisis - which were supported by the International Monetary Fund (IMF) and various European … as the size of imbalances, financing, unique cooperation of the IMF and various European facilities, and membership of a … lessons from European experiences, including the coexistence of the IMF and regional safety nets, cooperation issues, systemic …
Persistent link: https://www.econbiz.de/10011635367
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Target-Kredite, Leistungsbilanzsalden und Kapitalverkehr: Der Rettungsschirm der EZB
Sinn, Hans-Werner; Wollmershäuser, Timo - In: Ifo Schnelldienst 64 (2011) 06, pp. 01-29
Target-Kredite im Eurosystem – Die Stellungnahmen der Bundesbank – Was sind Target-Salden? – Kreditverlagerung – Zur ökonomischen Interpretation der Kreditverlagerung – Target-Kredite, Leistungsbilanz und Kapitalverkehr – Fünf vor zwölf – Target-Salden in den USA – Anhang:...
Persistent link: https://www.econbiz.de/10009293517
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The Economic Rationale of an EMU Fiscal Capacity
2018
This paper explores the economic rationale of an EMU fiscal capacity. It explains that the EMU's architecture suffers from two structural weaknesses: a tendency to develop imbalances and an inherent deflationary bias. The analysis shows that the external imbalances developed during the first...
Persistent link: https://www.econbiz.de/10012914443
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L'Eurosystème : un mécanisme de transferts en faveur des pays déficitaires ?. Le débat
Grjebine, André - In: Revue de l'OFCE N° 126 (2012) 7, pp. 269-298
A number of economists, following Professor Hans-Werner SINN, President of the Munich Institut für Wirtschaftsforschung (Ifo), have opened a debate on the true significance and the risks entailed by the system of compensation operating within the Eurozone, TARGET2 (Trans-European Automated...
Persistent link: https://www.econbiz.de/10011187097