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The introduction of the euro marks a milestone in the process of European financial market integration. This paper … analyzes the implications of the euro for cross-border banking activities. A portfolio model is used which captures the role of … banks as providers of informational and of risk-diversification services. By eliminating exchange rate risks, the euro …
Persistent link: https://www.econbiz.de/10011475635
International activities of commercial banks are a potential source for the transmission of shocks across countries. In Europe, bank finance plays a relatively important role, and efforts have been made at creating a level playing field for financial institutions. This paper reviews the stylized...
Persistent link: https://www.econbiz.de/10011476387
-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
We study the synchronization of credit booms and busts among 12 major European economies and the United States between 1972-2011. We propose a regression-based procedure to test whether boom-bust phases of credit cycles coincide across countries and to cluster countries with positively...
Persistent link: https://www.econbiz.de/10011299045
Euro area market has gained considerably in importance in world financial markets and has taken over from the US as the …
Persistent link: https://www.econbiz.de/10013320297
The European Union made a number of steps not least of them the introduction of a common currency to foster the integration of the European financial markets. A number of papers have tried to gauge the degree of integration for various financial markets looking at the convergence of interest...
Persistent link: https://www.econbiz.de/10011387026
The European Union made a number of steps not least of them the introduction of a common currency to foster the integration of the European financial markets. A number of papers have tried to gauge the degree of integration for various financial markets looking at the convergence of interest...
Persistent link: https://www.econbiz.de/10013158262
markets, in resolving current policy challenges in the euro area, especially in the area of monetary easing and greater … fragmentation, improving the allocation and pricing of liquidity, and supporting cross-border investment within the euro area …
Persistent link: https://www.econbiz.de/10013017970