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A New Architecture for the Single Currency : How to Solve the Euro Crisis
Mateus, Abel M. - 2011
The crisis in the Euro Zone is due to two factors: over-borrowing by some states and credit booms in others. The … architecture of the Euro remains incomplete, due to lack of enforcement of fiscal discipline and an integrated bank supervision … Euro needs once more a transition phase with a gradual fiscal and asymmetric adjustment with a decisive intervention by …
Persistent link: https://www.econbiz.de/10013117338
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Den Euroraum zukunftsfähig machen
Fichtner, Ferdinand; Fratzscher, Marcel; Podstawski, … - In: DIW Wochenbericht 81 (2014) 24, pp. 527-539
Die Krise des europäischen Währungsraums ist nicht vorbei. Zwar ist die Lage an den Finanzmärkten derzeit relativ ruhig, wirtschaftlich scheint die Talsohle in den meisten Ländern durchschritten. Aber fundamentale Konstruktionsfehler der Währungsunion bestehen weiter fort. Werden diese...
Persistent link: https://www.econbiz.de/10010369553
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Making the Euro area fit for the future
Fichtner, Ferdinand; Fratzscher, Marcel; Podstawski, … - In: DIW Economic Bulletin 4 (2014) 9, pp. 3-14
The crisis in the European currency area is not yet over. Although the situation in the financial markets is currently relatively calm, the economic crisis appears to be bottoming out in most countries. Nevertheless, there are still fundamental design flaws in the Monetary Union. If these are...
Persistent link: https://www.econbiz.de/10010427274
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Monetary union, even higher integration, or back to national currencies?
Oikonomidēs, Geōrgios; Philippopulos, Apostolēs; … - 2016
This paper quantifies the welfare differences among a monetary union, flexible exchange rates (economic disintegration) and a monetary plus fiscal transfer union (higher economic integration). The vehicle of analysis is a medium-scale New Keynesian DSGE model consisting of two heterogeneous...
Persistent link: https://www.econbiz.de/10011430977
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On deficits and symmetries in a fiscal capacity
Hebous, Shafik; Weichenrieder, Alfons J. - 2015
There is a growing debate about complementing the European Monetary Union by a more comprehensive fiscal union. Against this background, this paper emphasizes that there is a trade-off in designing a system of fiscal transfers ("fiscal capacity") in a union between members of different size. A...
Persistent link: https://www.econbiz.de/10011317727
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Fiscal policy within a common currency area : growth implications in the light of neoclassical theory
Konopczyński, Michał - In: Contemporary economics 7 (2013) 3, pp. 5-16
We examine the long-run impact of fiscal policy on economic growth under the conditions of an economic and monetary union (EMU). The analysis is based on the neoclassical growth model of a small (in economic terms) open economy in an EMU. The core assumptions are perfect capital mobility, which...
Persistent link: https://www.econbiz.de/10010228515
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Den Euroraum zukunftsfähig machen
Fichtner, Ferdinand; Fratzscher, Marcel; Podstawski, … - In: DIW-Wochenbericht : Wirtschaft, Politik, Wissenschaft 81 (2014) 24, pp. 527-539
Die Krise des europäischen Währungsraums ist nicht vorbei. Zwar ist die Lage an den Finanzmärkten derzeit relativ ruhig, wirtschaftlich scheint die Talsohle in den meisten Ländern durchschritten. Aber fundamentale Konstruktionsfehler der Währungsunion bestehen weiter fort. Werden diese...
Persistent link: https://www.econbiz.de/10010370846
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Fiscal Policy within a Common Currency Area - Growth Implications in the Light of Neoclassical Theory
Konopczyński, Michał - 2013
We examine the long-run impact of fiscal policy on economic growth under the conditions of an economic and monetary union (EMU). The analysis is based on the neoclassical growth model of a small (in economic terms) open economy in an EMU. The core assumptions are perfect capital mobility, which...
Persistent link: https://www.econbiz.de/10013072272
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The Deteriorating Dynamics of Public Debts Across Countries within the European Monetary Unification in Comparison with Countries Outside the European Monetary
Coccia, Mario - 2017
and subsequent period the introduction of the Euro currency. Statistical analyses show that the evolution of public debts …
Persistent link: https://www.econbiz.de/10012957909
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European Monetary Union Reform Preferences of French and German Parliamentarians
Blesse, Sebastian - 2019
We analyze data from an author‐conducted survey of members of the French and German parliaments on European Monetary Union reform preferences. We consider three potential drivers of preferences: nationality, ideology, and personal characteristics. For European Monetary Union policies like...
Persistent link: https://www.econbiz.de/10012900533