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The impact of the euro on money and bond markets
Santillán, Javier; Bayle, Marc; Thygesen, Christian - 2000
The paper provides an analysis of the euro area money and bond markets and their infrastructure since the introduction of the euro. Significant development in terms of integration took place in both markets in general to a various degree for the different segments. However, there remain room for...
Persistent link: https://www.econbiz.de/10011606153
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The global downturn and its impact on euro area exports and competitiveness
di Mauro, Filippo; Forster, Katrin; Lima, Ana - 2010
World trade contracted sharply in late 2008 and early 2009 following the deepening of the financial crisis in September 2008. This paper discusses the main mechanisms behind the global downturn in trade and its impact on euro area exports and competitiveness. It finds that the euro area was hit...
Persistent link: https://www.econbiz.de/10011606271
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Euro area cross-border financial flows and the global financial crisis
Forster, Katrin; Vasardani, Melina A.; Ca' Zorzi, Michele - 2011
This paper analyses the impact of the global financial crisis on euro area cross-border financial flows by comparing recent developments with the main pre-crisis trends. Two prominent features of the period of turmoil were (i) the sizeable deleveraging of external financial exposures by the...
Persistent link: https://www.econbiz.de/10011606278
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Competitiveness and external imbalances within the euro area
2012
The onset of the financial crisis in 2008 has highlighted the problems of diverging external imbalances within Economic and Monetary Union (EMU) and the role of persistent losses in competitiveness. This paper starts by investigating some of the competitiveness factors which contributed to...
Persistent link: https://www.econbiz.de/10011606291
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Introducing the ECB indicator on euro area industrial new orders
de Bondt, Gabe; Dieden, Heinz Christian; Muzikarova, Sona; … - 2013
Following the discontinuation of the official statistics on industrial new orders by Eurostat in mid-2012, this paper introduces the ECB indicator on euro area industrial new orders, which aims to fill the new statistical gaps for euro area total new orders as well as for various breakdowns....
Persistent link: https://www.econbiz.de/10011606301
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Warum die Volkswirtschaften der Eurozone den USA und Großbritannien seit der Finanzkrise hinterherhinken: Zur Rolle von Unterschieden in der Geld- und Fiskalpolitik
Heimberger, Philipp - 2016
Finanzkrise im Vergleich von Eurozone, USA und Großbritannien. Die Eurozone erholte sich seit 2010 deutlich schleppender als die … Ergebnis ist, dass der restriktivere Mix aus Geld- und Fiskalpolitik in der Eurozone die im Vergleich zu den USA und … institutionellen Rahmenbedingungen in der Eurozone hatte die Austeritätspolitik ab den Jahren 2010/2011 ausgeprägt negative Effekte auf …
Persistent link: https://www.econbiz.de/10012100198
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Sudden stops in the Euro area
Merler, Silvia; Pisani-Ferry, Jean - 2012
The single currency was expected to make balance of payments irrelevant between the euro-area member states. This benign view has been challenged by recent developments, especially as imbalances between euro-area central banks have widened within the TARGET2 settlement system. Current-account...
Persistent link: https://www.econbiz.de/10010293563
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Rating agencies and sovereign credit risk assessment
Véron, Nicolas; Wolff, Guntram B. - 2011
Credit rating agencies (CRAs) have not consistently met the expectations placed on them by investors and policymakers. It is difficult, however, to improve the quality of ratings through regulatory initiatives. In the short term, changes to the CRAs' regulatory environment, in a context of high...
Persistent link: https://www.econbiz.de/10010293566
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Who's afraid of sovereign bonds?
Merler, Silvia; Pisani-Ferry, Jean - 2012
The crisis has underlined the strong interdependence between the euro-area banking and sovereign crises. To understand the role domestic banks have played in holding sovereign debt, a breakdown of government debt by holding sectors is required. The data shows that at the start of the crisis,...
Persistent link: https://www.econbiz.de/10010293573
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The Euro crisis and the new impossible trinity
Pisani-Ferry, Jean - 2012
The search for solutions to the euro crisis is based on a partial diagnosis that overemphasises the lack of enforcement of existing fiscal rules. Europe's leaders should rather address the euro area's inherent weaknesses revealed by the crisis. At the core of euro-area vulnerability is an...
Persistent link: https://www.econbiz.de/10010293578