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Is the Eurozone not a monetary union, but an extraordinary exchange rate union?
Sauer, Beate; Sell, Friedrich L. - 2013
The Target imbalances within the Eurozone can be interpreted as a sign of a missing balance of payments adjustment … mechanism for the member countries. As the Eurozone lacks a fiscal union, in economic theory it is more an exchange rate union … payments, but only one for the whole Eurozone. This paper will show why the Target System is a crucial indicator for the …
Persistent link: https://www.econbiz.de/10009751600
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Monetary/fiscal policy regimes in post-war Europe
Bouabdallah, Othman; Jacquinot, Pascal; Patella, Valeria - 2023
inflation facts. Using a Dynamic Stochastic General Equilibrium model with Markov-switching policy rules, we identify three …
Persistent link: https://www.econbiz.de/10014482924
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COVID-19 and public support for the euro
Roth, Felix; Jonung, Lars; Most, Aisada - 2023
The COVID-19 pandemic had disastrous effects on health and economic activity worldwide, including in the Euro Area. The application of mandatory lockdowns contributed to a sharp fall in production and a rise in unemployment, inducing an expansionary fiscal and monetary response. Using a uniquely...
Persistent link: https://www.econbiz.de/10013541792
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COVID-19 and public support for the euro
Roth, Felix; Jonung, Lars; Most, Aisada - 2022
The COVID-19 pandemic had disastrous effects on health and economic activity worldwide, including in the Euro Area. The application of mandatory lockdowns contributed to a sharp fall in production and a rise in unemployment, inducing an expansionary fiscal and monetary response. Using a uniquely...
Persistent link: https://www.econbiz.de/10013455597
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Economic integration in the six Middle Eastern Gulf countries : a look from the perspective of money demand
Azar, Samih Antoine; Asrawi, Fadi; Gharzuddine, Emad - In: Journal of emerging market finance 16 (2017) 3, pp. 189-218
Persistent link: https://www.econbiz.de/10011925261
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Monetary-fiscal policy relations in the euro area : the impact on the primary balance
Dascher-Preising, Fabienne; Greiner, Alfred - 2022
With this paper, our objective is to empirically study public debt sustainability by estimating a fiscal reaction function where the primary balance relative to GDP is assumed to be a function of the public debt to GDP ratio of the previous year and of other macroeconomic variables. In...
Persistent link: https://www.econbiz.de/10013335018
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Macroeconomic effects of carbon transition policies : an assessment based on the ECB's New Area-Wide Model with a disaggregated energy sector
Coenen, Günter; Lozej, Matija; Priftis, Romanos - 2023
entails a transitory rise in inflation and a lasting, albeit moderate decline in GDP. We show that the short and medium …
Persistent link: https://www.econbiz.de/10014315252
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Causes of the outbreak of the Eurozone crisis : the role of the USA and the European Central Bank monetary policy
Białek, Natalia - In: E-Finanse : finansowy kwartalnik internetowy 11 (2015) 2, pp. 47-63
This paper argues that the loose monetary policy of two of the world’s most important financial institutions-the US Federal Reserve Board and the European Central Bank-were ultimately responsible for the outburst of global financial crisis of 2008 - 09. Unusually low interest rates in 2001 -...
Persistent link: https://www.econbiz.de/10011402491
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The eurozone : what is to be done?
Minford, Patrick; Ou, Zhirong; Wickens, Michael R.; … - 2021 - This draft: May2021
We construct a macro DSGE model of the eurozone and its two main regions, the North and the South, with the aim of …
Persistent link: https://www.econbiz.de/10012591814
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Monetary policy, macroeconomic policy mix and economic performance in the Euro area
Hein, Eckhard; Truger, Achim - 2006
. Our analysis confirms that it is the ECB's overemphasising a too low inflation target which is a major problem for … macroeconomic performance in the Euro area. The ECB is too exclusively occupied with inflation and wage developments and pays too … deflation in the largest economy of the Euro area, Germany, it is therefore required that the ECB raises its inflation target …
Persistent link: https://www.econbiz.de/10003744533