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Keynesian and Austrian erspectives on crisis, shock adjustment, exchange rate regime and (Long-Term) growth
Maurel, Mathilde; Schnabl, Gunther - In: Open economies review 23 (2012) 5, pp. 847-868
Persistent link: https://www.econbiz.de/10009670482
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Keynesian and Austrian perspectives on crisis, shock adjustment, exchange rate regime and (long-term) growth
Maurel, Mathilde; Schnabl, Gunther - 2011
asymmetric shocks. Whereas Mundell's (1961) seminal theory on optimum currency areas suggests depreciation in the face of crisis …The 2010 European debt crisis has revived the discussion concerning the optimum adjustment strategy in the face of … perspective by confronting exchange rate based adjustment with crisis adjustment via price and wage cuts. Econometric estimations …
Persistent link: https://www.econbiz.de/10009012327
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The failure of ECB monetary policy from a Mises-Hayek perspective
Schnabl, Gunther - 2017
The paper analyses the common European monetary policy based on a Mises-Hayek overinvestment framework, which is … crisis therapy puts a drag on long-term growth by conserving distorted economic structures. To preserve political stability a …
Persistent link: https://www.econbiz.de/10011619626
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Hayek's overinvestment theory and the stability of the Euro area
Schnabl, Gunther - In: The Emergence of a Tradition: Essays in Honor of Jesús …, (pp. 293-305). 2023
Persistent link: https://www.econbiz.de/10014309389
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Modeling the impact of real and financial shocks on Mercosur : the role of the exchange rate regime
Allegret, Jean-Pierre; Sand-Zantman, Alain - In: Open economies review 20 (2009) 3, pp. 359-384
Persistent link: https://www.econbiz.de/10003859452
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Has the Euro changed the business cycle?
Enders, Zeno; Jung, Philip; Müller, Gernot J. - In: European economic review : EER 59 (2013), pp. 189-211
Persistent link: https://www.econbiz.de/10009723952
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From floating to monetary union : the economic distance between exchange rate regimes
Hochreiter, Eduard; Siklos, Pierre L. - 2004
Persistent link: https://www.econbiz.de/10002490525
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A common currency peg in East Asia? : Perspectives from Western Europe
Chow, Hwee-kwan; Kim, Yoonbai - In: Journal of macroeconomics 25 (2003) 3, pp. 331-350
Persistent link: https://www.econbiz.de/10001790669
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Modeling the Impact of Real and Financial Shocks on Mercosur : The Role of the Exchange Rate Regime
Allegret, Jean-Pierre; Sand, Alain - 2010
This paper studies to what extent the diversity of exchange rate regimes within Mercosur exerts an influence on the feasibility of a monetary union in this area. A semi-structural VAR model is built for each country, including a set of international and domestic variables. Based on impulse...
Persistent link: https://www.econbiz.de/10014050327
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Convergence and Shocks in the Road to EU : Empirical Investigations for Bulgaria and Romania
Figuet, Jean-Marc; Nenovsky, Nikolay - 2006
Despite their progress Bulgaria and Romania significantly differ from the EU economies. In this article, on the basis of the theoretical and empirical achievements of the theory of optimal and (endogenous) currency areas we study to what extent the two South European economies are able to adopt...
Persistent link: https://www.econbiz.de/10014057821