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We analyze the feedback mechanisms between economic downturns and financial stress for several euro area countries. Our study employs newly constructed financial condition indices that incorporate banking variables extensively. We apply a non-linear Vector Smooth Transition Autoregressive...
Persistent link: https://www.econbiz.de/10010238376
We analyze the feedback mechanisms between economic downturns and financial stress for euro area countries. Our study employs newly constructed financial condition indices that incorporate extensively banking variables. We apply a nonlinear Vector Smooth Transition Autoregressive (VSTAR) model...
Persistent link: https://www.econbiz.de/10009792964
We analyze the feedback mechanisms between economic downturns and financial stress for several euro area countries. Our study employs newly constructed financial condition indices that incorporate banking variables extensively. We apply a non-linear Vector Smooth Transition Autoregressive...
Persistent link: https://www.econbiz.de/10010489891
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Die stabilitätspolitischen Erfolgsaussichten der europäischen Geldpolitik werden im ersten Kapitel einer kritischen … Abkehr von national orientierter Geldpolitik als Folge der zunehmenden Globalisierung rational und erforderlich ist …. Schließlich wird gezeigt, daß auch die europäische Geldpolitik einer Einbettung in ein wirtschaftspolitisches Gesamtkonzept, wie …
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Although there is no single yardstick to gauge the degree of integration, there is ample evidence that financial markets in the euro area have some way to go before national demarcation lines will effectively disappear and financial market integration is satisfactory. While there has been a push...
Persistent link: https://www.econbiz.de/10012446663