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Real and financial integration in Europe : evidence for the accession states and for the pre-ins
Buch, Claudia M.; Döpke, Jörg - 1999
-ins for monetary union with respect to Germany. Using tests for cointegration and common features for monthly data during the …
Persistent link: https://www.econbiz.de/10011474986
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On optimal currency areas and common cycles : are the acceding countries ready to join the euro?
Grimm, Louisa; Steinkamp, Sven; Westermann, Frank - 2021
The former EU president Jean-Claude Junker has proposed that all countries of the European Union should also adopt the euro as their currency and recent research has shown that countries currently pursuing this goal indeed fulfill the classical Optimal Currency Area (OCA) criterion of positively...
Persistent link: https://www.econbiz.de/10012499619
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On optimal currency areas and common cycles : are the acceding countries ready to join the euro?
Grimm, Louisa; Steinkamp, Sven; Westermann, Frank - 2021
The former EU president Jean-Claude Junker has proposed that all countries of the European Union should also adopt the euro as their currency and recent research has shown that countries currently pursuing this goal indeed fulfill the classical Optimal Currency Area (OCA) criterion of positively...
Persistent link: https://www.econbiz.de/10012506932
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The Ifo DSGE model for the German economy
Hristov, Nikolay - 2016
This paper estimates a medium-scale open economy DSGE model for Germany and the rest of the Euro Area (REA). The parameter estimates indicate that there is a modest degree of structural heterogeneity between Germany and the rest of the Euro Area. In particular, (i) the private sector in Germany...
Persistent link: https://www.econbiz.de/10011436405
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Financial Factors : Implications for Output Gaps
Rabanal, Pau - 2015
joining the monetary union, a decline in some countries' borrowing costs contributed to a credit, housing and real boom and …
Persistent link: https://www.econbiz.de/10013016603
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Structural Reforms and Zero Lower Bound in a Monetary Union
Gerali, Andrea - 2015
We assess the short- and medium-term macroeconomic effects of competition-friendly reforms in the service sector when the monetary policy rate is stuck at the zero lower bound (ZLB) in a monetary union. We calibrate a large-scale multi-country multi-sector dynamic general equilibrium model to...
Persistent link: https://www.econbiz.de/10013023878
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Inflation Differentials in a Currency Union : A DSGE Perspective
Rabanal, Pau - 2007
Cross country studies of inflation differentials, in particular in the EMU, have focused on three explanations: (i) the role of tradable and nontradable sector technology shocks and the Balassa-Samuelson effect, (ii) the role of the demand-side effects, and (iii) heterogeneity of inflationary...
Persistent link: https://www.econbiz.de/10014224411
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Better off without the euro? : structural VAR assessment of European monetary policy
Fritsche, Jan Philipp; Harms, Patrick Christian - 2020
Modern OCA theory has developed different conclusions on when forming a currency union is beneficial. An important pragmatic question in this context is: Did delegating monetary policy to the ECB increase stress in the individual euro area countries? An SVAR analysis reveals that monetary stress...
Persistent link: https://www.econbiz.de/10012301359
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20 years of common European monetary policy : reasons to celebrate
Fritsche, Jan Philipp; Harms, Patrick Christian - In: DIW weekly report : economy, politics, science : a … 9 (2019) 20/21, pp. 179-187
Twenty years after the introduction of the euro, this Weekly Report uses an empirical analysis to assess the performance of monetary policy in the EMU founding states. It is often claimed that the monetary policy of the European Central Bank (ECB) cannot outperform its national predecessors, as...
Persistent link: https://www.econbiz.de/10012007718
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Panel data analysis of the proposed monetary union in the Southern African development community
Zerihun, Mulatu Fekadu; Breitenbach, Marthinus C. - In: Spoudai : journal of economics and business 67 (2017) 4, pp. 23-44
1995-2016. We use first and second generation panel unit root tests and panel cointegration tests to test mainly for … stationarity and cointegration of real exchange rate series for the group of SADC countries. The findings from this study confirm … that there is stationarity and cointegration of the real exchange rate series among the 11 SADC member countries included …
Persistent link: https://www.econbiz.de/10011843930