Nachdem der Stabilitäts- und Wachstumspakt seine Bindungswirkung nur unzureichend entfaltet hat, setzen die Staats- und Regierungschefs der Eurozone nun auf eine noch stärkere Regelbindung. Was sind die Vorteile einer solchen Politik gegenüber diskretionären Entscheidungen? Lässt sich...

There is a wide consensus that the existence of structural rigidities in the Eurozone reduces the effectiveness of the ECB's monetary policies. In order to test this ECB-handicapʺ hypothesis, we perform a meta-analysis of the effects of monetary policies in the US and the Eurozone countries....

The paper analyses and compares the domestic and cross-border effects of US and euro area unconventional monetary policy measures on 24 major advanced and emerging economies, based on an estimated global vector error-correction model (GVECM). Unconventional monetary policies are measured using...

There is a wide consensus that the existence of structural rigidities in the Eurozone reduces the effectiveness of the ECB's monetary policies. In order to test this "ECB-handicap" hypothesis, we perform a meta-analysis of the effects of monetary policies in the US and the Eurozone countries....