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At a time of historic challenges to the viability of the Eurozone, we assess the contribution of the EU and the Euro to … equity market integration in Europe. We use a simple and essentially model free measure of bilateral market segmentation: two …
Persistent link: https://www.econbiz.de/10013135396
exist in most Eurozone countries. Although the European Central Bank managed the euro in a way that achieved a low rate of … inflation, other countries both in Europe and elsewhere have also had a decade of low inflation without incurring the costs of a … Greek departure from the Eurozone …
Persistent link: https://www.econbiz.de/10013118129
A common European bond would yield a common European Monetary Union risk free rate. We present tentative estimates of this common risk free for the European Monetary Union countries from 2004 to 2009 using variables motivated by a theoretical portfolio selection model. First, we analyze the...
Persistent link: https://www.econbiz.de/10013156250
This paper examines the sources of current conflict within the EU and the EMU. The topics discussed include the recent ECB policy of bond buying (the OMT policy), the attempts to advance the "European Project" of stronger political union (the fiscal compact, the banking union, and the proposals...
Persistent link: https://www.econbiz.de/10013089018
This paper looks at the short history of the Eurozone through the lens of an evolutionary approach to forming new …-through" approach towards the Eurozone crisis. We review several manifestations of this muddling through process. Greater mobility of … mature institutions in the Eurozone …
Persistent link: https://www.econbiz.de/10013052139
Europe's monetary union is part of a broader process of integration that started in the aftermath of World War II. In …
Persistent link: https://www.econbiz.de/10013080417
The global financial crisis which erupted in the United States instantaneously swept across Europe. Like the United … and recovery patterns for key EU members like Germany and France, within the Eurozone, were similar. However, after the … bubble burst and the crisis began unfolding it became clear that the Eurozone plight differed from America's in one …
Persistent link: https://www.econbiz.de/10013100996
This study grounds the establishment of EMU and the euro in the context of the history of international monetary cooperation and of monetary unions, above all in the U.S., Germany and Italy. The purpose of national monetary unions was to reduce transactions costs of multiple currencies and...
Persistent link: https://www.econbiz.de/10012772728
partial equilibrium estimates suggest that without a rise in zombie credit post 2012, annual inflation in Europe during 2012 …
Persistent link: https://www.econbiz.de/10013296772
, despite increased economic integration in Europe, countries will still be able to maintain distinct labor practices if they …
Persistent link: https://www.econbiz.de/10013227743