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der 16 Euro-Mitglieder mit einem eigenen Generalsekretariat auf europäischer Ebene zur Folge haben müsse. Um die Frage zu …
Persistent link: https://www.econbiz.de/10010286069
economic implications, have become more evident in the global economic crisis. The euro has served as a shield during the … made the euro more attractive, and most EU countries that are not yet members of EMU are expected to join during the next …
Persistent link: https://www.econbiz.de/10010286088
There is a strong presumption among economists that domestic reforms are promoted by regionalism. Yet strong empirical evidence for this proposition is lacking. This paper examines both the theoretical arguments and empirical evidence on this issue, drawing on the relevant economic, political,...
Persistent link: https://www.econbiz.de/10010286099
This paper contrasts the United States (US) and European situations during the crisis and examines how much of the crisis has been imported by Europe from the US. The paper argues that Europe never had a chance to avoid contagion from the US. It also documents the relatively limited reaction of...
Persistent link: https://www.econbiz.de/10010286102
The member states of the European Union (EU) and the EU institutions have increasingly been using public-private partnerships (PPPs) to accelerate the development of (ambitious) trans-national infrastructure. This paper argues that in the EU (i) private sector partners remain risk-averse; and...
Persistent link: https://www.econbiz.de/10010286166
Creating the framework for cross-border infrastructure cooperation often requires the active role of a third party, an honest broker, to forge convergence of interests. It is often argued that deep European Union (EU)-style integration is a necessary, though not sufficient, condition for...
Persistent link: https://www.econbiz.de/10010286178
This paper explores the stability of the relation between money demand for M3 and inflation in the euro area by …
Persistent link: https://www.econbiz.de/10010286288
The Greek government budget situation plays a central role in the debt crisis in the euro area. The debt to GDP ratio …. Under realistic conditions, a debt conversion may be the less costly strategy for Greece and the euro area partner states. A … value-added of these calculations lies in a potential transfer to smaller euro area member countries. …
Persistent link: https://www.econbiz.de/10010286303
Marine and coastal ecosystems - and thus the benefits they create for humans - are subject to increasing pressures and competing usages. For this reason, the European Union (EU) adopted the Marine Strategy Framework Directive (MSFD), which is to guide future maritime policy in the EU and aims at...
Persistent link: https://www.econbiz.de/10010286326
This paper formally proves that Rigobon and Sack (2004)'s approach of identifying monetary policy shocks through heteroscedasticity can be extended to a multimarket and multicountry framework. Applying our multivariate framework allows deriving consistent estimators of monetary policy effects....
Persistent link: https://www.econbiz.de/10010286345