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Oil Price Shocks and Cyclical Dynamics in an Asymmetric Monetary Union

Clausen, Volker; Wohltmann, Hans-Werner - Rheinisch-Westfälisches Institut für … - 2011

This paper analyzes the dynamic effects of anticipated and unanticipated oil price increases in a small two-country monetary union, which is simultaneously characterized by asymmetric wage adjustments and asymmetric interest rate sensitivities of private absorption. Common external oil price...

Persistent link: https://www.econbiz.de/10009018055

Has the EMU Reduced Wage Growth and Unemployment? Testing a Model of Trade Union Behaviour

Mikosch, Heiner; Sturm, Jan-Egbert - CESifo - 2011

(EMU) led to lower wage growth and lower unemployment in participating countries. Following Grüner’s model, monetary …. Although we come up with some weak evidence for increased business cycle amplitudes within the EMU, we neither find a … significant general effect of the EMU on wage growth nor on unemployment. …

Persistent link: https://www.econbiz.de/10009020101

Transmission of the Financial and Sovereign Debt Crises to the EMU: Stock Prices, CDS Spreads and Exchange Rates

Grammatikos, Theoharry; Vermeulen, Robert - Luxembourg School of Finance, Faculté de droit, … - 2010

This paper tests for the transmission of the 2007-2010 financial and sovereign debt crises to fifteen EMU countries. We …

Persistent link: https://www.econbiz.de/10009023962

WHAT DOES GREATER ECONOMIC INTEGRATION MEAN FOR INTERREGIONAL INCOME INEQUALITY? AN ANALYSIS OF OECD COUNTRIES AND REGIONS

BOUVET, Florence - In: Region et Developpement 33 (2011), pp. 39-58

integration systems: the USA (used as an example of a political union), the European Economic and Monetary Union (EMU), the … among US states and EMU regions than among EU regions and NAFTA regions. Thus, interregional income inequality seems to be …

Persistent link: https://www.econbiz.de/10009131166

Structural Breaks in Inflation Dynamics within the European Monetary Union

Windberger, Thomas; Zeileis, Achim - Institut für Finanzwissenschaft, Fakultät für … - 2011

To assess the effects of the EMU on inflation rate dynamics of its member states, the inflation rate series for 21 …

Persistent link: https://www.econbiz.de/10009140924

Testing for Parameter Stability in DSGE Models. The Cases of France, Germany and Spain

Jerger, Jürgen; Röhe, Oke - Wirtschaftswissenschaftliche Fakultät, Universität … - 2009

after the beginning of the second stage of EMU in the mid-nineties, while the estimates for Spain show a significant break …

Persistent link: https://www.econbiz.de/10009145849

Default risk and fiscal sustainability in PIIGS countries

Canale, Rosaria Rita - Volkswirtschaftliche Fakultät, … - 2011

European Monetary Union experiences the division into two major blocks according to their ability to respect fiscal criteria and replace their bonds on the market. The so-called PIIGS countries are asked to hardly reduce their deficit and debt in order to prevent speculative attacks and preserve...

Persistent link: https://www.econbiz.de/10009211205

What do we now know about currency unions?

Artis, Michael - In: Macroeconomics and Finance in Emerging Market Economies 1 (2008) 1, pp. 13-29

within the EMU are very small, offering a means for insurance against asymmetric shocks. Finally, the lessons of another …

Persistent link: https://www.econbiz.de/10009219262

THE RESPONSIVENESS OF HOUSE PRICES TO MACROECONOMIC FORCES: A CROSS-COUNTR Y COMPARISON

Kasparova, Diana; White, Michael - In: International Journal of Housing Policy 1 (2001) 3, pp. 385-416

expected as a result of EMU. The choice of countries is explained followed by a description of the demand and supply …

Persistent link: https://www.econbiz.de/10009221684

In the neighbourhood: the trade effects of the euro in a spatial framework

Kelejian, Harry; Tavlas, George S.; Petroulas, Pavlos - Bank of Greece - 2011

Trade is spatial in nature. However, when specifying trade regressions, spatial issues are typically not accounted for in a satisfactory way. We specify a trade model which relates to the effects that the introduction of the euro had on exports for the euro countries. Our model contains country...

Persistent link: https://www.econbiz.de/10009364236