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How well do contemporary theories explain floating exchange rate changes in an emerging economy : the case of EUR/PLN

Burda, Adrian Marek - In: Economies : open access journal 10 (2022) 11, pp. 1-20

The purpose of this paper is to investigate how well contemporary exchange rate theories explain fluctuations in exchange rates of emerging economies, before and after the Global Financial Crisis (GFC). As an example, the EUR/PLN exchange rate in 1999-2015 was selected as the currency pair that...

Persistent link: https://www.econbiz.de/10013499456

The Effect of Monetary Unification on German Bond Markets

Dewachter, Hans; Lyrio, Marco; Maes, Konstantijn - Centrum voor Economische Studiën, Faculteit Economie … - 2001

This paper uses reprojection to develop a benchmark to assess ECB monetary policy since January 1999, the start of EMU … German monetary policy is then reprojected onto the EMU period (1999:01-2001:08). We find that the German real interest rate … in place during the EMU period is significantly lower than it would have been in case the Bundesbank were still in charge …

Persistent link: https://www.econbiz.de/10005824097

Global and European Labor Costs

Abraham, Filip - Centrum voor Economische Studiën, Faculteit Economie …

Multinational companies and national governments pay considerable attention to labor costs and labor productivity differentials across countries. This paper analyzes total and unit labor differentials for a group of European and non-European countries in the 1960-1998 period. It deals with (i)...

Persistent link: https://www.econbiz.de/10005824099

Monetary and fiscal policy interaction in the EMU: A dynamic game approach

VAN AARLE, Bas; ENGWERDA, Jacob; PLASMANS, Joseph - Faculteit Toegepaste Economische Wetenschappen, …

Union. We investigate to which extent the EMU, that introduced a common monetary policy and restrictions on fiscal policy at … alternative policy regimes in a stylized dynamic model of the EMU: (i) non-cooperative monetary and fiscal policies, (ii) partial …

Persistent link: https://www.econbiz.de/10005824230

Staying together or breaking apart: Policy-makers' endogenous coalitions formation in the European economic and monetary Union

VAN AARLE, Bas; DI BARTOLOMEO, Giovanni; ENGWERDA, Jacob; … - Faculteit Toegepaste Economische Wetenschappen, … - 2002

In this paper, we analyze coordination of macroeconomic stabilization policies within the EMU by focusing, in a dynamic …

Persistent link: https://www.econbiz.de/10005824287

Currency substitution and money demand in Euroland

Freitas, Miguel Lebre de - Núcleo de Investigação em Políticas Económicas … - 2003

This papers tests the stability of the demand for money in the euro area in the context of an open economy. A sample consisting of quarterly data covering the 1982:2-1999:3 period is considered. The main finding is that the US long term rate of interest plays a significant role in the European...

Persistent link: https://www.econbiz.de/10005827127

FISCAL POLICY IN EUROLAND

Gabor, Daniela - In: Journal for Economic Forecasting (2002) 3, pp. 51-57

The paper begins by presenting the optimum currency areas theory, analyses the case of the EMU pointing out that in the … EMU budgets are not centralized. The EU budget cannot redistribute wealth due to its small size and lack in taxation and …

Persistent link: https://www.econbiz.de/10005827551

Convergence of EMU Equity Portfolios

Giofré, Maela; M. - Volkswirtschaftliche Fakultät, … - 2008

have converged at faster rate than those of NON EMU countries. This outcome canbe interpreted as a combination of the … significantly increased after EMU inception, pointing toward an exclusive role for convergence in investment barriers. …

Persistent link: https://www.econbiz.de/10005835584

Nominal and real wage flexibility in EMU

Arpaia, Alfonso; Pichelmann, Karl - Volkswirtschaftliche Fakultät, … - 2007

flexibility in EMU and attempts to draw a few lessons from the experience of the early years. First, we set the stage for the …

Persistent link: https://www.econbiz.de/10005835754

The Outlook for EMU

Kenen, Peter - In: Eastern Economic Journal 25 (1999) 1, pp. 109-115

Confounding forecasts of disruption and market turbulence, the transition to monetary union in Europe took place very smoothly. Some recent developments, however, are cause for concern, and important problems must still be resolved. The governments of most euro-zone countries do not subscribe to...

Persistent link: https://www.econbiz.de/10005418830