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Global Imbalances, Bretton Woods Ii, and Euroland's Role in All this

Bibow, Jörg - 2013

Approaching the issue of mounting global imbalances from the perspective of the quot;Bretton Woods II hypothesis,quot; this paper argues that the popular preoccupation with China's supposed export-led development strategy is misplaced. It also suggests, similar to Japan's depression, subdued...

Persistent link: https://www.econbiz.de/10012711566

The International Dimension of a Fragile EMU

Ioannou, Demosthenes; Pagliari, Maria Sole; Stracca, Livio - 2021

This paper quantifies the economic influence that shocks to EMU cohesion, which in turn reflect the incomplete nature of the monetary union, have on the rest of the world, by disentangling euro area stress shocks and global risk aversion shocks on the basis of a combination of sign, magnitude...

Persistent link: https://www.econbiz.de/10013250128

Coherence of Output Gaps in the Euro Area : The Impact of the COVID-19 Shock

de Haan, Jakob; Jacobs, Jan P. A. M.; Zijm, Renske - 2022

Using the measures proposed by Mink et al. (2012), we reexamine the coherence of business cycles in the euro area using a long sample period. We also analyze the impact of the COVID-19 pandemic on business cycle coherence and examine whether our measures for business cycle coherence indicate a...

Persistent link: https://www.econbiz.de/10013293282

Why is the Eurozone's Leverage of Competitiveness Neglected in Economic Theory?

Skouras, Thanos (Athanasios) - 2022

Using the case of handicap sports (like horse racing and golf) as an apt analogy, the Eurozone's leverage of … competitiveness by economic theory not only in the context of the Eurozone but more generally. The general disregard of the … competitiveness concept by mainstream academic economics is the reason for the neglect of the Eurozone's leverage of competitiveness …

Persistent link: https://www.econbiz.de/10013293632

Is there a euro effect in European football?

Dilger, Alexander; Hickfang, Michael - 2022

We analyse whether the creation of the eurozone and the euro crisis had an effect on the sportive performance of … professional football teams in European nations. We find a significantly positive sign of membership in the eurozone on UEFA points …Wir analysieren, ob die Gründung der Eurozone und die Eurokrise einen Einfluss auf die sportliche Leistung …

Persistent link: https://www.econbiz.de/10012878885

Measuring Synchronicity and Co-Movement of Business Cycles with an Application to the Euro Area

Mink, Mark - 2011

We develop multivariate measures of synchronicity and co-movement of business cycles. In addition to synchronicity, the co-movement measure takes differences between cycle amplitudes into account that have been overlooked in most previous studies. We apply the new measures to the euro area....

Persistent link: https://www.econbiz.de/10012756787

Business cycle convergence in EMU : a second look at the second moment

Crespo Cuaresma, Jesús; Fernández-Amador, Octavio - 2010

synchronization patterns in business cycles. The Eurozone has converged to a stable lower level of dispersion across business cycles …

Persistent link: https://www.econbiz.de/10009737084

Business cycle convergence in EMU : a first look at the second moment

Crespo Cuaresma, Jesús; Fernández-Amador, Octavio - 2010

We propose the analysis of the dynamics of the standard deviation of business cycles across euro area countries in order to evaluate the patterns of cyclical convergence in the European Monetary Union for the period 1960-2008. We identify significant business cycle divergence taking place in the...

Persistent link: https://www.econbiz.de/10009737093

The European Monetary Union as a Commitment Device for New EU Member States

Ravenna, Federico - 2021

This paper shows that the credibility gain from permanently committing to a fixed exchange rate by joining the European Monetary Union can outweigh the loss from giving up independent monetary policy. When the central bank enjoys only limited credibility a pegged exchange rate regime yields a...

Persistent link: https://www.econbiz.de/10013318342

Zooming Out : The Trade Effect of the Euro in Historical Perspective

Berger, Helge; Nitsch, Volker - 2021

In 1999, eleven European countries formed the Economic and Monetary Union (EMU); they abandoned their national currencies and adopted a new common currency, the euro. Several recent papers argue that the introduction of the euro has led (by itself) to a sizable and statistically significant...

Persistent link: https://www.econbiz.de/10013318615