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Catching up : the role of demand, supply and regulated price effects on the real exchange rates of four accession countries
MacDonald, Ronald; Wójcik, Cezary - 2003
The main aim of this paper is to examine the exchange rate behavior of a group of four transitional, EU accession countries, with a view to making policy recommendations regarding their accession to full European Monetary Union. We employ a dynamic OLS panel estimator to investigate the relative...
Persistent link: https://www.econbiz.de/10011506491
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Home Bias, Transaction Costs, and Prospects for the Euro: A More Detailed Analysis
Mann, Catherine L.; Meade, Ellen E. - Peter G. Peterson Institute for International Economics … - 2002
This paper brings together the literature on determination of home bias in equity holdings and the portfolio balance model of exchange rates to consider whether the dollar might be affected by a change in transactions costs that alters international portfolio allocations. Our empirical findings...
Persistent link: https://www.econbiz.de/10005627712
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EMU and the External Value of the Euro
Demertzis, Maria; Hughes Hallett, Andrew - C.E.P.R. Discussion Papers - 1999
The size and economic relevance of Europe may imply a new role for the EURO in the international financial markets. But will the EURO compete with the $US and the Yen for a place in the basket of international currencies? Will that induce a bipolar or indeed tri-polar system, and with what...
Persistent link: https://www.econbiz.de/10005662141
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The Emergence of the Euro as an International Currency
Alogoskoufis, George; Portes, Richard; Rey, Hélène - C.E.P.R. Discussion Papers - 1997
*The European Union will enter Stage Three of Economic and Monetary Union (EMU) in 1999. The development of euro …
Persistent link: https://www.econbiz.de/10005662175
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Global bond portfolios and EMU
Lane, Philip R. - 2005
We examine the bilateral composition of international bond portfolios for the euro area and the individual EMU member … countries. We find considerable support for “euro area bias”: EMU member countries disproportionately invest in one another … linkages in explaining asymmetries across EMU member countries in terms of their outward and inward bond investments vis …
Persistent link: https://www.econbiz.de/10011604599
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Why EMU is irrelevant for the German economy
Posen, Adam - 1998
No one seems to be neutral about the effects of EMU on the German economy. Roughly speaking, there are two camps: those … stability. From a broader macroeconomic perspective, however, it is clear that EMU is unlikely to cause directly any meaningful …
Persistent link: https://www.econbiz.de/10010317396
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Why EMU is irrelevant for the German economy
Posen, Adam Simon - 1998
No one seems to be neutral about the effects of EMU on the German economy. Roughly speaking, there are two camps: those … stability. From a broader macroeconomic perspective, however, it is clear that EMU is unlikely to cause directly any meaningful …
Persistent link: https://www.econbiz.de/10009768851
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EMU sustainability and the prospects of peripheral economies
Theodoros, Papaspyrou - In: Economic Bulletin (2012) 36, pp. 7-29
governance in emu and examines further some fundamental questions about emu’s sustainability looking at emu’s performance for far … functioning emu once they will have adopted a more sustainable growth model. …
Persistent link: https://www.econbiz.de/10010855026
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Why EMU is irrelevant for the German economy
Posen, Adam - Center for Financial Studies - 1998
No one seems to be neutral about the effects of EMU on the German economy. Roughly speaking, there are two camps: those … stability. From a broader macroeconomic perspective, however, it is clear that EMU is unlikely to cause directly any meaningful …
Persistent link: https://www.econbiz.de/10010958722
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Are the Real Exchange Rates of the New EU Member Countries in Line with Fundamentals? – Implications of the NATREX Approach
Frenkel, Michael; Koske, Isabell - In: Journal of Economics and Statistics (Jahrbuecher fuer … 232 (2012) 2, pp. 129-145
This paper derives equilibrium real exchange rates for the EU member countries that joined in 2004 and in 2007. Our analysis is based on the natural real exchange rate approach and uses data for the period 1980-2007. We employ a two-step estimation strategy to deal with the limited availability...
Persistent link: https://www.econbiz.de/10010556075