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One country, one vote? : labor market structure and voting rights in the ECB

Berger, Helge; Hefeker, Carsten - 2004

The pending enlargement of the European Monetary Union (EMU) has brought to the fore the discussion of the voting right distribution in the European Central Bank (ECB) council. We show that, in a model where labor unions internalize the inflationary consequences of wage setting, deviating from a...

Persistent link: https://www.econbiz.de/10011402520

Making the ECB the Central Bank of a Non-Federal Coalition of States

Tonveronachi, Mario - 2015

The recent crisis has shown that the inconsistent design of the Euro area had previously produced financial convergence, not integration. The crisis increased fragmentation thus further exposing the limits of the single monetary policy. The absence of a common fiscal authority impedes the birth...

Persistent link: https://www.econbiz.de/10013015168

European monetary policy and the ECB rotation model voting power of the core versus the periphery

Belke, Ansgar; Schnurbein, Barbara von - 2010

We analyze the ECB Governing Council’s voting procedures. The literature has by now discussed numerous aspects of the rotation model but does not account for many institutional aspects of the voting procedure of the GC. Using the randomization scheme based on the multilinear extension (MLE) of...

Persistent link: https://www.econbiz.de/10010208783

How should large and small countries be represented in a currency union?

Berger, Helge (contributor); Müller, Till (contributor) - 2004

The likely extension of the euro area has triggered a debate on the organization of the ECB, in particular on the apparent mismatch between relative economic size and voting rights in the Council. We present a simple model of optimal representation in a federal central bank addressing this...

Persistent link: https://www.econbiz.de/10002521678

How should large and small countries be represented in a currency union?

Berger, Helge; Müller, Till - 2004

Persistent link: https://www.econbiz.de/10009303502

One country, one vote? : labor market structure and voting rights in the ECB

Berger, Helge; Hefeker, Carsten - 2004

Persistent link: https://www.econbiz.de/10009303509

How Should Large and Small Countries Be Represented in a Currency Union?

Berger, Helge; Müller, Till - 2021

Persistent link: https://www.econbiz.de/10013318847

One Country, One Vote? Labor Market Structure and Voting Rights in the ECB

Berger, Helge; Hefeker, Carsten - 2021

Persistent link: https://www.econbiz.de/10013319361

The low interest rate environment : causes, effects and a way out

Matthes, Jürgen - 2014

The very expansive and unconventional monetary policy of the ECB reduced the tensions of the Euro debt crisis at the price of persistently very low interest rates. While the ECB was right to act at the peak of the crisis, the risks of the low-interest rate environment become increasingly...

Persistent link: https://www.econbiz.de/10010407558

The fragility of two monetary regimes : the European monetary system and the Eurozone

Ji, Yuemei; De Grauwe, Paul - 2013

We analyze the similarities and the differences in the fragility of the European Monetary system (EMS) and the Eurozone … foreign exchange markets while in the Eurozone it was the absence of a lender of last resort in the long-term government bond … Eurozone the roles were reversed. The national central banks that became part of the Eurosystem were strengthened. This came at …

Persistent link: https://www.econbiz.de/10010210104