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Is the Eurozone Not a Monetary Union, But an Extraordinary Exchange Rate Union?

Sauer, Beate - 2015

The Target imbalances within the Eurozone can be interpreted as a sign of a missing balance of payments adjustment … mechanism for the member countries. As the Eurozone lacks a fiscal union, in economic theory it is more an exchange rate union … payments, but only one for the whole Eurozone. This paper will show why the Target System is a crucial indicator for the …

Persistent link: https://www.econbiz.de/10013028252

Bankruptcy Codes and Risk Sharing of Currency Unions

Wang, Xuan - 2021

Since the Eurozone Crisis of 2010-12, a critical debate on the viability of a currency union has focused on the role of … provides the financial stability and welfare implications of bankruptcy within a capital markets union in the Eurozone …

Persistent link: https://www.econbiz.de/10013246925

Bankruptcy codes and risk sharing of currency unions

Wang, Xuan - 2021

Persistent link: https://www.econbiz.de/10012421007

Shadow banking and the design of macroprudential policy in a monetary union

Kirchner, Philipp; Schwanebeck, Benjamin - 2020

This paper studies the interaction of international shadow banking with monetary and macroprudential policy in a two-country currency union DSGE model. We find evidence that cross-country financial integration through the shadow banking system is a source of financial contagion in response to...

Persistent link: https://www.econbiz.de/10012224888

Cross-border banking and macroprudential policies inasymmetric monetary unions

Dräger, Lena; Proaño Acosta, Christian - In: Macroeconomic dynamics 24 (2020) 2, pp. 255-290

Persistent link: https://www.econbiz.de/10012193884

The SSM at 1

Laeven, Luc; Draghi, Mario; Dombret, Andreas R.; … - SUERF - The European Money and Finance Forum; Deutsche …; … - 2016

On 3 December EY hosted a SUERF conference on banking reform with Sir Howard Davies, the Chairman of RBS, and Dame Colette Bowe, the Chairman of the Banking Standards Board, as the two keynote speakers. Professor David Miles (Imperial College) gave the SUERF 2015 Annual Lecture on Capital and...

Persistent link: https://www.econbiz.de/10011557140

Lessons from the European financial crisis

Pagano, Marco - 2014

This paper distils three lessons for bank regulation from the experience of the 2009-12 euro-area financial crisis. First, it highlights the key role that sovereign debt exposures of banks have played in the feedback loop between bank and fiscal distress, and inquires how the regulation of...

Persistent link: https://www.econbiz.de/10010424982

Towards deeper financial integration in Europe : what the Banking Union can contribute

Buch, Claudia M.; Körner, Tobias; Weigert, Benjamin - 2014 - Updated version

The European Banking Union is a major step forward in fixing major deficiencies in the institutional framework of the Euro area. The absence of effective banking supervision and resolution powers at the European level promoted excessive private risk-taking in the up-run to the Euro crisis....

Persistent link: https://www.econbiz.de/10010399340

Framing banking union in the euro area : some empirical evidence

Valiante, Diego - 2014

Persistent link: https://www.econbiz.de/10010237185

The Proposals for a Single Supervisory Mechanism for Banks in the Euro Area are an Important Step in Strengthening the Economic and Monetary Union

Pavlova, Maria - 2013

The Single Supervisory Mechanism (SSM) is considered by many to be fundamental for the creation of the European Union banking union. The very idea behind the banking union is not only to strengthen the confidence in the banks of the Member States that are using the euro as their national...

Persistent link: https://www.econbiz.de/10013087773