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markets. However, the policy framework proved inadequate in the context of the major financial crisis in the EU starting in … structural institutional change for the EU, arguably the most significant since the introduction of the euro. Even in its current …
Persistent link: https://www.econbiz.de/10011613840
Integrated capital markets facilitate risk sharing across countries. Lower home bias in financial investments is an indicator of risk sharing. We highlight that existing indicators of equity home bias in the literature suffer from incomplete coverage because they consider only listed equities....
Persistent link: https://www.econbiz.de/10011613999
Standard simple-sum monetary aggregates, like M3, sum up monetary assets that are imperfect substitutes and provide different transaction and investment services. Divisia monetary aggregates, originated from Barnett (1980), are derived from economic aggregation and index number theory and aim to...
Persistent link: https://www.econbiz.de/10010423794
Global current account imbalances widened before the 2007/2008 crisis and have narrowed since. While the post-crisis adjustment of European current account deficits was in line with global developments (though more forceful), European current account surpluses defied global trends and increased....
Persistent link: https://www.econbiz.de/10011308003
investment positions of a number of central and southern European countries were greatly supported by EU transfers. Valuation …
Persistent link: https://www.econbiz.de/10011797678
Persistent link: https://www.econbiz.de/10009564376
some EU countries (and ourselves) preferring a DSA-based approach, while others prefer to stick to simple rules. This paper … evaluates the proposal by replicating the DSA methodology and computing fiscal adjustment implications for all EU countries with …
Persistent link: https://www.econbiz.de/10014372855
to projects carried out in various regions in the context of EU cohesion policy. We found that the best …
Persistent link: https://www.econbiz.de/10012433816
pay in more than they receive - rather than on the broader overall positive effects of EU spending. Thelargest net … regressivesystem of revenue corrections.To inform debate on the 2021-2027 EU budget, I estimated the impact on net balances of the 2018 … EU's "operating budgetary balance" indicator, and on the basis of a new and broader indicator, the "net direct balance …
Persistent link: https://www.econbiz.de/10012302015
could be a prerequisite for the more meaningful discussions on the new EU-UK economic relationship after Brexit, such as ….1 billion, possibly with a large upfront UK payment followed by significant EU reimbursements later. …
Persistent link: https://www.econbiz.de/10011715693