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Public wages in the euro area - towards securing stability and competitiveness
Holm-Hadulla, Fédéric; Kamath, Kishore; Lamo, Ana; … - 2010
This paper examines the role of government wages in ensuring macroeconomic stability and competitiveness in the euro area. Recent empirical evidence suggests that government wage expenditure is subject to a pro-cyclical bias in most euro area countries and at the euro area aggregate level....
Persistent link: https://www.econbiz.de/10011606264
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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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The monetary mechanics of the crisis
von Hagen, Jürgen - 2009
. The money multiplier drops. It is therefore necessary to create more base money so that monetary aggregates remain stable …
Persistent link: https://www.econbiz.de/10010273707
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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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EU stimulus packages. Estimating the size of the European stimulus packages for 2009: an update
Saha, David; von Weizsäcker, Jakob - 2009
David Saha and Jakob von Weizsäcker present the latest breakdown of the fiscal stimuli in the 13 largest EU economies and compare the total European package for 2009 to the US stimulus package. The authors estimate the size of the European stimulus packages to increase to 0.99% of GDP following...
Persistent link: https://www.econbiz.de/10010273724
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The effective exchange rates of the euro
Buldorini, Luca; Makrydakis, Stelios; Thimann, Christian - 2002
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