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The European Monetary Union as a commitment device for new EU member states

Ravenna, Federico - 2005

This paper shows that the credibility gain from permanently committing to a fixed exchange rate by joining the European Monetary Union can outweigh the loss from giving up independent monetary policy. When the central bank enjoys only limited credibility a pegged exchange rate regime yields a...

Persistent link: https://www.econbiz.de/10011604562

Openness and optimal monetary policy

Lombardo, Giovanni; Ravenna, Federico - 2010

We show that the composition of imports has important implications for the optimal volatility of the exchange rate. Using input-output data for 25 countries we document substantial differences in the import and non-tradable content of final demand components, and in the role played by imported...

Persistent link: https://www.econbiz.de/10011605325

Determinants of workers’ remittances: evidence from the European Neighbouring Region

Schiopu, Ioana; Siegfried, Nikolaus - 2006

Workers’ remittances have become the second largest source of net financial flows to developing countries. However, the … main motives for sending remittances remain controversial. This paper examines the importance of altruistic versus … investment motive. Finally, migrants’ skills raise remittances, while a large informal economy in the sending country depresses …

Persistent link: https://www.econbiz.de/10011604734

Determinants of Workers' Remittances : Evidence from the European Neighbouring Region

Schiopu, Ioana C.; Siegfried, Nikolaus A. - 2021

Workers' remittances have become the second largest source of net financial flows to developing countries. However, the … main motives for sending remittances remain controversial. This paper examines the importance of altruistic versus … investment motive. Finally, migrants' skills raise remittances, while a large informal economy in the sending country depresses …

Persistent link: https://www.econbiz.de/10013317412

The admission of accession countries to an enlarged monetary union: a tentative assessment

Ca' Zorzi, Michele; De Santis, Roberto A. - 2003

The enlargement of the European monetary union to include the accession countries (ACs) will not lead to higher average inflation in the enlarged euro area, but only to inflation redistribution across countries if continuity of the monetary policy framework is preserved. In the short term,...

Persistent link: https://www.econbiz.de/10011604262

Exchange rate volatility and growth in small open economies at the EMU periphery

Schnabl, Gunther - 2007

Since the introduction of the euro in January 1999, exchange rate stability at the periphery of the euro area is growing. The paper investigates the impact of exchange rate stability on growth for a sample of 41 mostly small open economies at the EMU periphery. It identifies international trade,...

Persistent link: https://www.econbiz.de/10011604819

Oil exporters: in search of an external anchor

Habib, Maurizio Michael; Stráský, Jan - 2008

This paper discusses the choice of an optimal external anchor for oil exporting economies, using optimum currency area criteria and simulations of a simple model of a small open economy pegging to a basket of two currencies. Oil exporting countries - in particular those of the Gulf Cooperation...

Persistent link: https://www.econbiz.de/10011605004

Migrants' choice of remittance channel: Do general payment habits play a role?

Kosse, Anneke; Vermeulen, Robert - 2014

habits: migrants who regularly use internet banking for other purposes are more likely to use bank services for remittances …

Persistent link: https://www.econbiz.de/10011605728

Migrants' Choice of Remittance Channel : Do General Payment Habits Play a Role?

Kosse, Anneke - 2014

habits: migrants who regularly use internet banking for other purposes are more likely to use bank services for remittances …

Persistent link: https://www.econbiz.de/10013054673

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The immigrant/native wealth gap in Germany, Italy and Luxembourg

Mathä, Thomas Y.; Porpiglia, Alessandro; Sierminska, Eva - 2011

This paper analyses the existence of an immigrant/native wealth gap by using household survey data for Luxembourg, Germany and Italy. The results show that, in all three countries, a sizeable wealth gap exists between natives and immigrants. Towards the upper tail of the wealth distribution the...

Persistent link: https://www.econbiz.de/10011605348