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French taxpayer. In the aftermath of the devaluation of the Franc CFA in 1994, and of the peg of the currency to the Euro in …, as the CFA - Zone never fulfilled the most crucial preconditions of an optimal currency area. The peg to the EMU …
Persistent link: https://www.econbiz.de/10012746668
Transcript of an interview with Roland Vaubel, who discusses the Euro as a creature of politics. He explains the …
Persistent link: https://www.econbiz.de/10010604802
The eurozone is the crown jewel in the process of European integration. This monetary zone includes the most advanced integration grouping of countries in the European Union. The eurozone has been expanding the number of its participants, a sign of success in any economic or political union....
Persistent link: https://www.econbiz.de/10010991753
The impact of EMU on the transatlantic exchange rate stability raises the more general question of whether the exchange … States, Germany and France, over the 1972-1995 period. Then we compare EMU, the ERM and a floating regime through stochastic … simulations. We show that EMU could reduce the variability of the transatlantic exchange rate compared both to the ERM and to a …
Persistent link: https://www.econbiz.de/10014181129
This study inspects if there is greater convergence with Germany amongst the Eurozone founding members and if their relations with the hegemonic economy have been more symmetrical after "euroization". The dimensions explored are those inspired by the optimum currency areas (OCA) framework. To...
Persistent link: https://www.econbiz.de/10011708719
This study inspects if there is greater convergence with Germany amongst the Eurozone founding members and if their relations with the hegemonic economy have been more symmetrical after "euroization". The dimensions explored are those inspired by the optimum currency areas (OCA) framework. To...
Persistent link: https://www.econbiz.de/10011499412
Foreign exchange intervention (FXI) is a highly debated topic. Yet, comprehensive and comparable data on FXI is hard to find. This paper provides a new dataset of FXI covering a large number of countries over the period 2000-20 at monthly and quarterly frequencies. It includes publicly available...
Persistent link: https://www.econbiz.de/10013226447
In this paper, we analyze the volume of euro banknotes issued by Germany within the euro area with several seasonal … methods. We draw a distinction between movements within Germany, circulation outside Germany but within the euro area and … demand from non-euroarea countries. Our approach suggests that only about 20% of euro notes issued by Germany are used for …
Persistent link: https://www.econbiz.de/10010209428
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/10014363189
In 1871-73, newly unified Germany adopted the gold standard, replacing the silver-based currencies that had been prevalent in most German states until then. The reform sparked a series of steps in other countries that ultimately ended global bimetallism, i.e., a near-universal fixed exchange...
Persistent link: https://www.econbiz.de/10012889160