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Economic convergence in South-Eastern Europe : will the financial sector deliver?

Herzberg, Valerie; Watson, Maxwell - 2007

The rhythm of financial development in south-eastern Europe has accelerated. In a setting of low inflation and robust growth, domestic credit and cross-border flows are expanding. This process can strengthen real convergence by supporting productivity gains that enhance competitiveness and a...

Persistent link: https://www.econbiz.de/10011704448

For Diversity in the International Regulation of Financial Institutions : Critiquing and Recalibrating the Basel Architecture

Romano, Roberta - 2013

This paper challenges the prevailing view of the efficacy of harmonization of international financial regulation and … increasing the flexibility of the international financial regulatory architecture, as a means of reducing systemic risk, It … regulatory error's increasing systemic risk, by reducing the likelihood that international banks worldwide will follow broadly …

Persistent link: https://www.econbiz.de/10013090480

Efficiency Gains of a European Banking Union

Schoenmaker, Dirk - 2013

An anticipated benefit of the prospective European Banking Union is stronger supervision of European banks. Another benefit would be enhanced resolution of banks in distress. While national governments confine themselves to the domestic effects of a banking failure, a European Resolution...

Persistent link: https://www.econbiz.de/10013086972

Can European Bank Bailouts Work?

Schoenmaker, Dirk - 2016

Cross-border banking needs cross-border recapitalisation mechanisms. Each mechanism, however, suffers from the financial trilemma, which is that cross-border banking, national financial autonomy and financial stability are incompatible. In this paper, we study the efficiency of different...

Persistent link: https://www.econbiz.de/10013008000

The Financial Trilemma

Schoenmaker, Dirk - 2013

The financial trilemma states that financial stability, financial integration and national financial policies are incompatible. Any two of the three objectives can be combined but not all three; one has to give. This paper develops a model to underpin the financial trilemma

Persistent link: https://www.econbiz.de/10012710810

The enigmatic dollar-euro exchange rate and the world's biggest forex market: Performance, causes, consequences

Priewe, Jan - 2016

on international financial markets. …

Persistent link: https://www.econbiz.de/10011565000

"New" views on the optimum currency area theory: what is EMU telling us?

Mongelli, Francesco Paolo - 2002

This paper surveys the optimum currency area (OCA) literature. It is organised into four phases: the 'pioneering phase' which put forward the OCA theory and its properties, the 'reconciliation phase' when its diverse facets were combined, the 'reassessment phase' that led to the 'new OCA theory'...

Persistent link: https://www.econbiz.de/10011604184

Fixed and flexible exchange rates and currency sovereignty

Sardoni, Claudio; Wray, L. Randall - 2007

This paper provides an analysis of Keynes's original Bancor proposal as well as more recent proposals for fixed exchange rates. We argue that these schemes fail to pay due attention to the importance of capital movements in today's economy, and that they implicitly adopt an unsatisfactory notion...

Persistent link: https://www.econbiz.de/10010266537

International Monetary Stability via a Global Currency?

Menkhoff, Lukas - Volkswirtschaftliche Fakultät, … - 2009

benchmark). With increasing economic integration and succesful international coooperation, howver, this scenario may change in …

Persistent link: https://www.econbiz.de/10008527378

Financial Stability and Fiscal Crises in a Monetary Union

Jahjah, Samir - International Monetary Fund (IMF) - 2001

The main tasks of central banks are to secure price and financial stability. These objectives can, in times of crises, conflict with one another, and the central bank may have to renounce one of them in order to secure the other. In a monetary union, this trade-off can be exacerbated by the...

Persistent link: https://www.econbiz.de/10005826053