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Czech Republic, Hungary and Poland will have to join the European and Monetary Union. Surprisingly, there is very little work on the welfare consequences of the loss of monetary policy flexibility for these countries. This paper fills this void by providing a framework to evaluate quantitatively...
Persistent link: https://www.econbiz.de/10004978130
This paper focuses on the pass-through of exchange rate changes into the prices of imports made by euro area countries … estimate industry-specific rates of pass-through across and within countries for all euro members. In the short-run, pass … of pass-through rates across industries and countries can be rejected. Differences exist across euro area countries in …
Persistent link: https://www.econbiz.de/10004980989
, telephone equipment, etc. However, the introduction of the European single currency, the euro on January 1999 could signifi … New Zealand and the EU. This paper examines whether the introduction of the euro resulted in structural changes on New … instability in both import and export but the instability are more likely explained by the impact of the 1997 Asian Crisis than by …
Persistent link: https://www.econbiz.de/10004984428
none available
Persistent link: https://www.econbiz.de/10004985636
The euro has played an important catalysing role for the deepening and broadening of the corporate bond markets in the … euro area. The most remarkable market growth has been recorded for bonds issued by euro area non-bank financials …, reflecting increasing securitisations. The euro has had a direct impact on it according to empirical estimates. The euro also has …
Persistent link: https://www.econbiz.de/10004985644
euro area securities infrastructure remains highly fragmented due to cross-border differences in tax regimes, procedures … securities infrastructure in the euro area and its implications for regulation and market policy. …
Persistent link: https://www.econbiz.de/10004987509
Persistent link: https://www.econbiz.de/10014466309
the period of the 2008 crisis and its aftermath. The results of panel data analysis have showed that deposit euroization …
Persistent link: https://www.econbiz.de/10014466527
a special emphasis on the first year of the Euro. A contribution is made as to how to measure these roles, both for … identification of changes in the role of the Euro during 1999 compared to the aggregate of Euro predecessor currencies, net of intra-Euro … examined empirically. It turns out that for almost all important market segments for which data are available, the Euro …
Persistent link: https://www.econbiz.de/10005123910
Widespread concern over real effects of EMU is consistent with new Keynesian approaches to macroeconomic fluctuations, but more difficult to reconcile with a real business cycle (RBC) paradigm. Using a model with frictions as a point of departure, I speculate that nominal price rigidity in...
Persistent link: https://www.econbiz.de/10005123924