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Die Stabilitätsprogramme der EU : Anspruch und Wirklichkeit in den ersten vier Jahren der Europäischen Währungsunion

Sell, Friedrich L. - 2003

einen neuen "Policy Mix" in der Euro-Zone organisieren hilft und zugleich das berühmte "Zuordnungsproblem adäquat löst. Das …

Persistent link: https://www.econbiz.de/10010509331

Monetary union and fiscal federalism

Kletzer, Kenneth; Hagen, Jürgen von - 2000

Does a monetary union need fiscal shock absorbers helping the participating countries to cope with asymmetric shocks? The consensus in the debate over EMU argues that the answer is yes. In this paper, we revisit the issue, building on a dynamic, general equilibrium framework of regions in a...

Persistent link: https://www.econbiz.de/10010514294

Macroeconomic stabilization with a common currency : does European Monetary Unification create a need for fiscal insurance of federalism?

Kletzer, Kenneth - 1997

The implications of monetary unification for fiscal policies are discussed. The roles of nominal exchange rate flexibility in the presence of asymmetric national shocks and nominal price rigidities as an automatic stabilizer and source of disturbances to real economic performance are reviewed....

Persistent link: https://www.econbiz.de/10010514307

The Eurosystem and the art of central banking

Heinsohn, Gunnar; Steiger, Otto - 2002

supplier of central bank money - cannot set the refinancing conditions to credit institutions in EMU. The latter are determined …

Persistent link: https://www.econbiz.de/10010515673

Monetary policy in the Euro area : lessons from the first years

Clausen, Volker; Hayo, Bernd - 2002

This paper investigates in a consistent semi-structural empirical framework three current issues of monetary policy in the euro area. First, regarding policy transmission we offer a three-stage procedure to combine the efficient estimation of economic structure prior to EMU with current ECB...

Persistent link: https://www.econbiz.de/10010515674

Estimating a European demand for money

Hayo, Bernd - 1998

European Monetary Union will come into existence in 1999. This raises questions related to the monetary policy targets that will be adopted by the European Central Bank (ECB). For both likely candidates, targeting a money aggregate or an inflation target, the existence of a stable money demand...

Persistent link: https://www.econbiz.de/10010515712

Der Staat als "Lender of Last Resort" - oder : die Achillesferse des Eurosystems

Steiger, Otto - 2002

solutions have to be considered but also how to use private money and money from international institutions. …

Persistent link: https://www.econbiz.de/10010518121

Monetary convergence and risk premiums in the EU candidate countries

Orłowski, Lucjan T. - 2002

rate risk premiums in the EU candidate countries as they undergo monetary convergence to the eurozone. The underlying …

Persistent link: https://www.econbiz.de/10010519049

Monetary convergence of the EU candidates to the Euro : a theoretical framework and policy implications

Orłowski, Lucjan T. - 2001 - This version: September 2001

believed to facilitate both the economic transition and the monetary convergence to the euro. Following this assumption, an … that the monetary convergence begins with inflation targeting and concludes with a full-fledged euroization. It further … advocates the application of flexible benchmarks of monetary convergence that would accommodate various non-monetary factors …

Persistent link: https://www.econbiz.de/10010519057

Exchange rate volatility effects on the German labour market : a survey of recent results and extensions

Buscher, Herbert S.; Mueller, Claudia - 1999

In this paper, a survey on theoretically expected and empirically proved impacts of exchange rate volatility is given. With regard to the West German unemployment, the effects of volatility are empirically analysed using three different volatility measures and four country groups. In...

Persistent link: https://www.econbiz.de/10011294706