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Persistent link: https://www.econbiz.de/10015069661
Seit der Europäischen Währungsunion verfügt die Europäische Union über wirtschaftspolitische Kompetenzen, die bisher den Nationalstaaten vorbehalten waren. Der neu gewonnenen geldpolitischen Entscheidungsmacht der EU steht jedoch die nationale Souveränität in Fragen der Wirtschafts- und...
Persistent link: https://www.econbiz.de/10009699933
Persistent link: https://www.econbiz.de/10014632476
30-year period of lightly regulated free banking. We attribute this to two structural issues: banks had incentives to … across banks) of a bank run. We use a novel counterfactual to show that these risks increased discount rate dispersion, and … argue that as a result, public regulation of payments infrastructure was necessary for money market integration. …
Persistent link: https://www.econbiz.de/10015069683
This paper analyzes, using a VAR model, the effects of US central bank monetary policy announcements, and information shocks from this authority regarding its economic outlook on Mexican financial and macroeconomic variables. Shocks are identified by combining a high-frequency strategy with sign...
Persistent link: https://www.econbiz.de/10015069701
Monetary policy governance - how monetary policy objectives are determined, how decisions are made and who makes them - determines the quality and effectiveness of monetary policy decisions. In this paper, we examine some desirable and some adverse outcomes associated with different governance...
Persistent link: https://www.econbiz.de/10015069703
Persistent link: https://www.econbiz.de/10015069770
Persistent link: https://www.econbiz.de/10015069801