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Persistent link: https://www.econbiz.de/10010532204
This paper analyzes reforms and adjustments in the context of the Euro and the global financial crises. Taking the perspective of the evolutionary approach to institutions, the formation of a new currency area is not unidirectional. The process leading to the euro is an example of a common...
Persistent link: https://www.econbiz.de/10009541882
and recovery patterns for key EU members like Germany, France (within the Eurozone) and the United Kingdom (outside the … Eurozone) were similar. However, after the bubble burst and the crisis began unfolding it became clear that the Eurozone plight … differed from America’s in one fundamental respect. There was no exact counterpart of Eurozone GIIPS (Greece, Italy, Ireland …
Persistent link: https://www.econbiz.de/10009767592
We use consumer price data for 81 European cities (in Germany, Austria, Finland, Italy, Spain, Portugal and Switzerland) to study the impact of the introduction of the euro on goods market integration. Employing both aggregated and disaggregated consumer price index (CPI) data we confirm...
Persistent link: https://www.econbiz.de/10009767676
The aim of our paper is to contribute to the debate on optimal fiscal rules in a monetary union: in terms of global budgetary deficit, of structural budgetary deficit, or of public debt. Indeed, these rules seem to be mixed in the framework of the European Economic and Monetary Union, with the...
Persistent link: https://www.econbiz.de/10010482338
den Bankensektor in der Eurozone beschränkt, soll die Kapitalmarktunion Barrieren aus dem Weg räumen, die den Kapitalfluss …
Persistent link: https://www.econbiz.de/10011292921
Persistent link: https://www.econbiz.de/10013086690
We study the price convergence of goods and services in the euro area in 2001-2002. To measure the degree of convergence, we compare the prices of around 220 items in 32 European cities. The width of the border is the price difference attributed to the fact that the two cities are in different...
Persistent link: https://www.econbiz.de/10012724495
The Brexit issue has caused much concern regarding the future economic scenario of Europe in particular and the world in general. There are several reasons for Brexit. One of them is that the very nature of Monetary Unions is its rigidity. The 'one size fits all' yardstick won't apply to many...
Persistent link: https://www.econbiz.de/10012956687
This paper quantifies the economic influence that shocks to EMU cohesion, which in turn reflect the incomplete nature of the monetary union, have on the rest of the world. Disentangling euro area stress shocks and global risk aversion shocks based on a combination of sign, magnitude and...
Persistent link: https://www.econbiz.de/10012824791