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The official view on ECB monetary policy claims that monetary decisions are based solely on average data for the euro … zone and that diverging regional developments are disregarded. However, experience from other two tier central banks and … offer some first weak support for an impact of regional divergence in ECB decision making. The results further clarify that …
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or divergence in the EU? I am prepared to give an unambiguous answer. That answer is yes. …
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I provide a structured comparison of the nineteenth-century classical gold standard and the Euro, basing my analysis heavily on recent research. Both similarities and differences are evident in the historical record. Both regimes were vaunted as engines of convergence, but in both cases...
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Within the economic profession, it is a widely held view that the fiscal criteria of the Maastricht treaty are arbitrary numbers without economic foundation. Much of this criticism seems to overlook an important aspect - the strategic dimension of the criteria. This paper focuses on one...
Persistent link: https://www.econbiz.de/10011441024
Are the characteristics of the exchange rate regime relevant for the degree of fiscal discipline? What are the conclusions for fiscal behavior in Europe after the transition to EMU? These are the central questions that are analyzed in this paper from a theoretical point of view. After a general...
Persistent link: https://www.econbiz.de/10011441669