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The sovereign default problem in the Eurozone : an insurance-based approach
Arnold, Nadjeschda Katharina; Rees, Ray - 2015
This paper argues that the Eurozone crisis stems from a risk management failure in the Eurosystem's design, and that … monetary union and other assets. We firstly analyse a country's debt choice, assuming as a benchmark case that the no-bailout …
Persistent link: https://www.econbiz.de/10010533082
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Completing the monetary union of Europe as mid-term solution of the Euro crisis
Fischer, Justina A. V.; Pastore, Francesco - 2015
This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the … growth in Greece and discusses the role of conditionality. Finally, the important role of mid-left parties is highlighted. …
Persistent link: https://www.econbiz.de/10011308548
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Sovereign Debt, Bail-Outs and Contagion in a Monetary Union
Eijffinger, Sylvester C. W. - 2015
1998 and 2012. Our key theoretical argument is related to the bail-out guarantee provided by a monetary union, which … the European monetary integration in late 1990s, and (ii) - following the heightened default risk of Greece - the sudden …
Persistent link: https://www.econbiz.de/10013027003
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Lessons of the European crisis for regional monetary and financial integration in East Asia
Volz, Ulrich - 2012
The debt crisis in several member states of the euro area has raised doubts on the viability of European Economic and Monetary Union (EMU) and the future of the euro. While the launch of the euro in 1999 stirred a lot of interest in regional monetary integration and even monetary unification in...
Persistent link: https://www.econbiz.de/10009492387
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The economics of sovereign debt, bailouts and the Eurozone crisis
Gourinchas, Pierre-Olivier; Martin, Philippe J.; … - 2022
Persistent link: https://www.econbiz.de/10013375394
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Greek sovereign debt crisis : causes, fiscal adjustment programs and lessons for Croatia
Brkić, Mislav - In: Croatian economic survey 18 (2016) 1, pp. 71-99
Persistent link: https://www.econbiz.de/10011720016
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Completing the Monetary Union of Europe as Mid-Term Solution of the Euro Crisis
Fischer, Justina A. V. - 2015
This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the … growth in Greece and discusses the role of conditionality. Finally, the important role of mid-left parties is highlighted …
Persistent link: https://www.econbiz.de/10013016262
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Fiscal or bailout union : where is the EU/EMU's fiscal integration heading?
Dąbrowski, Marek - 2013
Eurozone. Each variant of fiscal integration must be based on sound foundations of fiscal discipline. Market discipline, i … problem. Unfortunately, since 2010, the 'no bail out' principle has been replaced by a policy of conditional bailout of …
Persistent link: https://www.econbiz.de/10010187949
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The political economy of a diverse monetary union
Perotti, Enrico C.; Soons, Oscar - 2020
We analyze the political economy of monetary unification among countries with different quality of institutions. Countries with stronger institutions have lower public spending and better investment incentives, even under a stronger currency. Governments under weaker institutions spend more so...
Persistent link: https://www.econbiz.de/10012270428
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The political economy of a diverse monetary union
Perotti, Enrico C.; Soons, Oscar - 2020 - Revision: September 7, 2020
We analyze the political economy of monetary unification among countries with different quality of institutions. Countries with stronger institutions have lower public spending and better investment incentives, even under a stronger currency. Governments under weaker institutions spend more so...
Persistent link: https://www.econbiz.de/10012251381