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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
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
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
Die Studie beschäftigt sich mit dem Verhältnis ertragsabhängiger und ertragsunabhängiger Steuern in Deutschland und in der OECD. Üblich ist die Unterscheidung zwischen direkten und indirekten Steuern. Abweichend davon orientieren wir uns an der Frage, in welchem Ausmaß die Besteuerung von...
Persistent link: https://www.econbiz.de/10012290126
Persistent link: https://www.econbiz.de/10010527534
Kritiker der derzeitigen Finanzierung der Europäischen Union (EU) verweisen auf die Intransparenz des bestehenden Eigenmittelsystems. Zur Lösung dieses Problems wird eine eigene EU-Steuer vorgeschlagen. Sie soll dazu beitragen, die Finanzautonomie der Europäischen Union zu stärken und die...
Persistent link: https://www.econbiz.de/10011893314
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
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
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
This paper details the methodological framework underlying the construction of the effective exchange rate (EER) indicators of the euro. This framework yields two sets of indicators - (i) one nominal and several real EER indices against a narrow reference group of euro area trading partners...
Persistent link: https://www.econbiz.de/10011606154