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The Cross-Border Movement of Euro Banknotes and Austria’s TARGET 2 Liabilities
Handig, Martin; Jobst, Clemens; Schneeberger, Doris - In: Monetary Policy & the Economy (2012) 4, pp. 32-52
In the public and academic discussion on the payment system TARGET2, the high claims and liabilities of some euro area countries have mostly been associated with the financial crisis. The implicit assumption that TARGET2 balances would be close to zero without the financial crisis is both...
Persistent link: https://www.econbiz.de/10011015378
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Francisco Barrera Lavalle: early twentieth-century Mexican currency and banking specialist : critic of the 1905 monetary reform by which Mexico adopted the gold standard
Solís Rosales, Ricardo - In: Research in the history of economic thought and methodology 36 (2019) 3, pp. 29-53
Persistent link: https://www.econbiz.de/10012245035
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A Suggested Reformulation of the Theory of Optimal Currency Areas
Melitz, Jacques - C.E.P.R. Discussion Papers - 1991
In contrast to conventional analyses of monetary union between two particular countries or sets of countries, this paper treats the possible expansion of a given currency area as a continuous variable ranging from zero to one; zero if there is no expansion and one if all sources of imports and...
Persistent link: https://www.econbiz.de/10005656388
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Alles auf Anfang : warum der Euro scheitert - und wie ein Neustart gelingt
Heinen, Nicolaus; Mallien, Jan; Toncar, Florian - 2017
Persistent link: https://www.econbiz.de/10011646367
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Der Draghi-Crash : warum uns die entfesselte Geldpolitik in die finanzielle Katastrophe führt : in Erinnerung an Roland Baader (1940-2012)
Krall, Markus - 2017 - 1. Auflage
Politik und Geldpolitik in Europa haben sich von den Grundsätzen verabschiedet, die in der Vergangenheit die Garanten des Erfolgs für den Kontinent waren. Die Finanzkrise und ihre nicht enden wollenden Nachbeben verleiten eine verunsicherte und überforderte Elite an den Schaltstellen der...
Persistent link: https://www.econbiz.de/10014013083
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The Eurosystem's asset purchase programme and TARGET balances
Eisenschmidt, Jens; Kedan, Danielle; Schmitz, Martin; … - 2017
TARGET balances have risen during the period of the Eurosystem's asset purchase programme (APP). The APP gives rise to substantial cross-border flows of reserves at the time of asset purchases and beyond, reflecting the interaction of decentralised monetary policy implementation and the...
Persistent link: https://www.econbiz.de/10011719852
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Euro area monetary policy and TARGET balances: a trilogy
Eisenschmidt, Jens; Kedan, Danielle; Schmitz, Martin - 2022
The growth in TARGET balances after 2009 has given rise to intense academic and public debate. Our paper offers a systematic exposition of the necessary conditions for TARGET balances to emerge and provides a clear link to monetary policy. We show that large TARGET balances can only arise with...
Persistent link: https://www.econbiz.de/10013448708
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Fiscal divergence, current account and TARGET2 imbalances in the EMU
Abad, José; Löffler, Axel; Schnabl, Gunther; Zemanek, … - 2012
surplus liquidity absorption within an asymmetric EMU. It is argued that starting from the turn of the millennium diverging … for the German banking sector. The paper shows how since the outbreak of the crisis the adjustment of intra-EMU current …
Persistent link: https://www.econbiz.de/10010308236
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Fiscal divergence, current account and TARGET2 imbalances in the EMU
Abad, José; Löffler, Axel; Schnabl, Gunther; Zemanek, … - Wirtschaftswissenschafltiche Fakultät, Universität Leipzig - 2012
surplus liquidity absorption within an asymmetric EMU. It is argued that starting from the turn of the millennium diverging … for the German banking sector. The paper shows how since the outbreak of the crisis the adjustment of intra-EMU current …
Persistent link: https://www.econbiz.de/10009652734
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The Impact of EMU on Inflation Expectations
Heinemann, Friedrich; Ullrich, Katrin - 2004
This paper analyses the impact of the monetary regime change from the Bundesbank to the ECB in 1999 on inflation … significantly. However, the analysis also reveals that the years immediately before the start of EMU were characterised by a …. Once in charge of monetary policy the ECB was quickly successful to restore certainty about its true Bundesbank-like type. …
Persistent link: https://www.econbiz.de/10010297316