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This paper investigates Germany's vulnerability to the ongoing Euroland crisis. In 2010-11, Germany experienced a strong rebound from the global financial crisis of 2008-09. The Euroland crisis then meant record low interest rates and a depressed euro that boosted German extra-area exports. But...
Persistent link: https://www.econbiz.de/10009757118
This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the social and political costs of a GREXIT, but also of a continuing austerity policy. It proposes a reform policy fostering growth in Greece and discusses the role of conditionality....
Persistent link: https://www.econbiz.de/10011308548
real gross domestic product (RGDP), which, in the optimum currency area (OCA) theory, supposes that countries with higher … optimum currency crisis (OCC) model is affected by mobility factors, as the defined theory has not been perfectly realised in …. This study analysed the application of the Eurozone in the light of the OCA of Mundel's theory.Social implications: The OCA …
Persistent link: https://www.econbiz.de/10013307159
indicate substantial improvements in inflation and unemployment. Amongst the founding states, Ireland has idiosyncratically …
Persistent link: https://www.econbiz.de/10011499412
Highlighting that France and Germany held largely contradicting hopes and aspirations for Europe's common currency, this paper analyzes how the resulting euro contradiction conditioned the ongoing euro crisis as well as current strategies to resolve it. While Germany generally prevailed in...
Persistent link: https://www.econbiz.de/10009732260
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...
Persistent link: https://www.econbiz.de/10010209428
broke the golden rule of a monetary union: commitment to a common inflation rate. As a result, the country faces a trilemma …
Persistent link: https://www.econbiz.de/10009533362
broke the golden rule of a monetary union: commitment to a common inflation rate. As a result, the country faces a trilemma …
Persistent link: https://www.econbiz.de/10013106538
This paper reviews the performance of the euro area since the euro's launch 20 years ago. It argues that the euro crisis has exposed existential flaws in the euro regime. Intra-area divergences and the corresponding buildup of imbalances had remained unchecked prior to the crisis. As those...
Persistent link: https://www.econbiz.de/10011894027
This paper assesses the contribution of the European Central Bank (ECB) to Germany's ongoing economic crisis, a vicious circle of decline in which the country has become stuck since the early 1990s. It is argued that the ECB continues the Bundesbank tradition of asymmetric policymaking: the bank...
Persistent link: https://www.econbiz.de/10003229840