Showing 1 - 10 of 4,010
The euro crisis remains unresolved even as financial markets may seem calm for now. The current euro regime is … campaign that can only impoverish Europe to a public investment campaign designed to secure Europe's future. No mutualization …
Persistent link: https://www.econbiz.de/10010204687
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
The European debt crisis triggered a debate on the lacking components of the EU and EMU integration architecture. Many …
Persistent link: https://www.econbiz.de/10010187949
This paper argues that the loose monetary policy of two of the world’s most important financial institutions-the US … Federal Reserve Board and the European Central Bank-were ultimately responsible for the outburst of global financial crisis of … crisis as discussed in literature. Some of them relate directly to weaknesses inherent in the institutional design of the …
Persistent link: https://www.econbiz.de/10011402491
This paper describes the institutional flaws that led to the euro crisis, assesses the institutional reforms that were … put in place during and in the aftermath of the crisis, and evaluates the remaining fragilities of the architecture of the … European monetary union. In mid-2017, growth in the euro area appears to be finally picking up after 10 years of recessions and …
Persistent link: https://www.econbiz.de/10011723767
potential threat to sovereign bond market stability in the euro area; these markets had disintegrated during the “euro crisis …
Persistent link: https://www.econbiz.de/10012051172
America's experience is particularly relevant and worrisome. Still, Europe may be in a better position to navigate a path out … of the crisis given cooperative mechanisms that were absent in Latin America, particularly the availability of massive … on Latin America's experience provides useful lessons for Europe to improve the chances for a successful resolution. …
Persistent link: https://www.econbiz.de/10011286667
Using an estimated large-scale New-Keynesian model, we assess welfare and business cycle consequences of a fiscal union within EMU. We differentiate between three different scenarios: public revenue equalisation, tax harmonisation and a centralised fiscal authority. Relative to the status quo,...
Persistent link: https://www.econbiz.de/10011546743
This paper explicitly models strategic interaction between two independent national fiscal authorities and a single central bank in a simple New Keynesian model of a monetary union. Monetary policy is constrained by the zero lower bound on nominal interest rates. Coordination of fiscal policies...
Persistent link: https://www.econbiz.de/10010325141
This paper explicitly models strategic interaction between two independent national fiscal authorities and a single central bank in a simple New Keynesian model of a monetary union. Monetary policy is constrained by the zero lower bound on nominal interest rates. Coordination of fiscal policies...
Persistent link: https://www.econbiz.de/10009560040