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European Financial Markets After EMU : A First Assessment

Danthine, Jean-Pierre - 2000

This paper reviews the first evidence on the impact of European Monetary Union on European capital markets, one year after the launch of the single currency. Our assessment of this evidence is very favourable. On almost all counts EMU has either changed the European financial landscape already...

Persistent link: https://www.econbiz.de/10012470687

Games for Central Bankers : Markets v/s Politics in Public Policy Decisions

Casella, Alessandra - 2000

through which national representatives could choose the monetary policy of a single, multinational central bank. There are no …

Persistent link: https://www.econbiz.de/10012470704

Money and Inflation in the Euro Area : A Case for Monetary Indicators?

Gerlach, Stefan - 2000

This paper studies the relationship between inflation, output, money and interest rates in the euro area, using data spanning 1980 2000. The P* model is shown to have considerable empirical support. Thus, the price gap' or, equivalently, the real money gap' (the gap between current real balances...

Persistent link: https://www.econbiz.de/10012470705

Currency Unions

Alesina, Alberto - 2000

What is the optimal number of currencies in the world? Common currencies affect trading costs and, thereby, the amounts of trade, output, and consumption. From the perspective of monetary policy, the adoption of another country's currency trades off the benefits of commitment to price stability...

Persistent link: https://www.econbiz.de/10012470810

Sovereign Debt in the 21st Century : Looking Backward, Looking Forward

Mitchener, Kris; Trebesch, Christoph - National Bureau of Economic Research - 2021

How will sovereign debt markets evolve in the 21st century? We survey how the literature has responded to the Eurozone … advanced economies; (ii) a bank-sovereign "doom-loop" and the propagation of sovereign risk to households and firms; (iii) roll … survey points to a growing role of sovereign-bank linkages, legal risks, domestic debt and default, and of official creditors …

Persistent link: https://www.econbiz.de/10012496152

The Effect of Macroeconomic Uncertainty on Household Spending

Coibion, Olivier; Georgarakos, Dimitris; Gorodnichenko, … - National Bureau of Economic Research - 2021

Using a new survey of European households, we study how exogenous variation in the macroeconomic uncertainty perceived by households affects their spending decisions. We use randomized information treatments that provide different types of information about the first and/or second moments of...

Persistent link: https://www.econbiz.de/10012496179

Financial Markets' Assessment of EMU

Bates, David S. - 1999

inferred from financial data regarding future policies of the European Central Bank …

Persistent link: https://www.econbiz.de/10012471937

Notes on the Role of TARGET in a Stage III Crisis

Garber, Peter M. - 1998

, which can provide the inter-central bank credit necessary to fund an attack …

Persistent link: https://www.econbiz.de/10012472192

Subsidiarity and the European Union

Inman, Robert P. - 1998

The European Union is at a crossroads. At issue will be each of the three decisions which define a federal constitution: the number of participating governments, the assignment of policy responsibilities to the new EMU, and the representation of local interests in, and the decision-making rules...

Persistent link: https://www.econbiz.de/10012472252

Current Account Sustainability in Transition Economies

Roubini, Nouriel - 1998

This paper presents an analysis of the sustainability of current account deficits in transition economies in Central and Eastern Europe. These countries have experienced large current account imbalances in the transition to a market economy. We consider a wide range of macroeconomic factors that...

Persistent link: https://www.econbiz.de/10012472337