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Price Impacts of Non-Adoption of the Euro for Small European Countries

Anderson, Harald - 2006

regard to the prices of traded goods in small countries that have not adopted the euro and uses the Bayoumi-Eichengreen OCA … not adopted the euro have increasingly seen a change in the determinants of their traded goods prices. This seems to … contrast with the experience of small countries that adopted the euro. The results need to be interpreted carefully, given the …

Persistent link: https://www.econbiz.de/10014402034

The Eurozone Crisis : How Banks and Sovereigns Came to Be Joined At the Hip

Sandri, Damiano - 2011

We use the rise and dispersion of sovereign spreads to tell the story of the emergence and escalation of financial tensions within the eurozone. This process evolved through three stages. Following the onset of the Subprime crisis in July 2007, spreads rose but mainly due to common global...

Persistent link: https://www.econbiz.de/10014397492

Sovereign risk and bank risk-taking

Ari, Anil - 2017

I propose a dynamic general equilibrium model in which strategic interactions between banks and depositors may lead to endogenous bank fragility and slow recovery from crises. When banks' investment decisions are not contractible, depositors form expectations about bank risk-taking and demand a...

Persistent link: https://www.econbiz.de/10011763894

Investor information and bank instability during the European debt crisis

Iorgova, Silvia; Ross, Chase P. - 2021

Persistent link: https://www.econbiz.de/10012487211

Balance sheets and debt crises : empirical regularities for modern cases of sovereign distress

Huertas Laverde, Gonzalo; Meyer Cirkel, Alexis - 2021

Public and private sector balance sheets are an important component to any analysis of debt sustainability. A vulnerable and indebted private sector can become a sudden liability for the government; alternatively, resilient household and bank balance sheets may reveal potential sources of...

Persistent link: https://www.econbiz.de/10012613508

Macroeconomic Shocks and Trade Flows within Sub-Saharan Africa : Implications for Optimum Currency Arrangements

Bayoumi, Tamim A. - 1995

Africa has more countries than any other continent, and hence the largest number of potential monetary and exchange rate arrangements. This paper looks at whether the existing highly fractured monetary arrangements in Sub-Saharan Africa correspond to what might be expected from the theory of...

Persistent link: https://www.econbiz.de/10014395934

Monetary and Exchange Rate Arrangements for Nafta

Eichengreen, Barry - 1993

This paper considers the extent to which the North American Free Trade Area (NAFTA) meets the criteria for a common currency area. NAFTA is compared with the EC, a regional grouping for which initial plans for a monetary union are already in place. Most of the anticipated benefits from a...

Persistent link: https://www.econbiz.de/10014396278

A Formal Model of Optimum Currency Areas

Bayoumi, Tamim A. - 1994

A model of optimum currency areas is presented using a general equilibrium model with regionally differentiated goods. The choice of a currency union depends upon the size of the underlying disturbances, the correlation between these disturbances, the costs of transactions across currencies,...

Persistent link: https://www.econbiz.de/10014398130

A Theory of Optimum Currency Areas : Revisited

Flood, Robert P. - 1992

Starting with Friedman and Mundell the academic literature has conducted a high level debate concerning the design of cross-country monetary arrangements. That debate has become very complex and the data requirements necessary for appropriate application of the principles developed are far...

Persistent link: https://www.econbiz.de/10014398224

Aftershocks of monetary unification : hysteresis with a financial twist

Bayoumi, Tamim A.; Eichengreen, Barry - 2017

currency area than the Euro Area. More intriguingly, the Euro Area shows striking changes in correlations and responses which … demand shocks to reinforce each other. An implication is that the Euro Area needs vigorous, coordinated regulation of its …

Persistent link: https://www.econbiz.de/10011716715