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In this paper we study how the introduction of the euro has affected corporate financing in Europe. We use firm level … data from eleven euro-countries as well as from a control group of five other European countries spanning the years 1991 …-2006. We show that firms from euro-countries that previously had weak currencies have increased both their equity and debt …
Persistent link: https://www.econbiz.de/10008854540
We test whether and how the adoption of the euro, narrowly defined as the end of competitive devaluations, has affected … euro has been accompanied by a reallocation of activity within rather than across sectors. Since its adoption, productivity … since the adoption of the euro. Restructuring has entailed a shift of business focus from production to upstream and …
Persistent link: https://www.econbiz.de/10008855649
This paper is based on two strands of relative literature. The first examines the effect of sticky wages on international trade, unemployment and trade policy. The second strand looks at the effect of the exchange rate on wages. Related to this literature is the discussion in the European Union...
Persistent link: https://www.econbiz.de/10010894886
This paper distils three lessons for bank regulation from the experience of the 2009-12 euro-area financial crisis … fiscal distress, and inquires how the regulation of banks' sovereign exposures in the euro area should be changed to mitigate … new regulatory framework of the euro-area "banking union" can be expected to mitigate excessive forbearance and facilitate …
Persistent link: https://www.econbiz.de/10010961638
, the euro and the Chinese renminbi (RMB). It focuses on what we call China’s" dominance hypothesis", i.e. whether the …
Persistent link: https://www.econbiz.de/10009371469
Persistent link: https://www.econbiz.de/10000667499
Persistent link: https://www.econbiz.de/10000592558
The European central bank is a bank of banks but not a bank of states. This reduces the capabilities of member states to finance deficits. The role of the central bank to cope with the debt crises is institutionally more limited than in most other Western countries. The European Stability...
Persistent link: https://www.econbiz.de/10010569136
This article examines the effect of political knowledge on support for the euro and voting on the euro issue in the … 2001 and 2005 UK general elections. Political knowledge increased support for the euro in 2001 but had no effect in 2005 … and it conditioned the effect of the euro issue on vote choice in both elections. The effect of the euro issue on voting …
Persistent link: https://www.econbiz.de/10010569272