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European Monetary Union Reform Preferences of French and German Parliamentarians
Blesse, Sebastian - 2019
We analyze data from an author‐conducted survey of members of the French and German parliaments on European Monetary Union reform preferences. We consider three potential drivers of preferences: nationality, ideology, and personal characteristics. For European Monetary Union policies like...
Persistent link: https://www.econbiz.de/10012900533
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A Viable Insolvency Procedure for Sovereigns (VIPS) in the Euro Area
Fuest, Clemens - 2014
A mechanism to restructure the debt of an insolvent euro country is a missing element in the emerging institutional architecture of the euro area. The introduction of an insolvency proce-dure for sovereigns faces a dilemma: In the foreseeable future, its introduction would risk pushing Europe...
Persistent link: https://www.econbiz.de/10013048549
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Reconciling Insurance with Market Discipline : A Blueprint for a European Fiscal Union
Dolls, Mathias - 2015
This contribution develops a blueprint for a European fiscal union. The proposal addresses the shortcomings of most other reform designs which do not offer a solution for insolvent or non-cooperative euro countries. We suggest a design which combines fiscal insurance with an orderly procedure to...
Persistent link: https://www.econbiz.de/10013018079
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The Future of the European Fiscal Union : Survey Results from Members of National Parliaments in France, Italy and Germany
Blesse, Sebastian; Bordignon, Massimo; Boyer, Pierre; … - 2021
of three dimensions on EU and euro area fiscal reform preferences: nationality, political ideology, and populism. We …
Persistent link: https://www.econbiz.de/10013215606
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Dispelling the Shadow of Fiscal Dominance? Fiscal and Monetary Announcement Effects for Euro Area Sovereign Spreads in the Corona Pandemic
Havlik, Annika; Heinemann, Friedrich; Helbig, Samuel; … - 2021
We use event study regressions to compare the impact of EU monetary versus fiscal policy announcements on government … bond spreads of ten euro member countries. Our motivation is to evaluate which of the two players – the ECB or the EU … only for the announcement of the ‘Next Generation EU’ program. In contrast, a temporary relaxation of European fiscal rules …
Persistent link: https://www.econbiz.de/10013221648
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The Political Economy of Euro Area Sovereign Debt Restructuring
Heinemann, Friedrich - 2021
The establishment of a sovereign debt restructuring mechanism (SDRM) is one of the important issues in the academic debate on a viable constitution for the European Monetary Union (EMU). Yet the topic seems to be taboo in official reform contributions to the debate. Against this backdrop, the...
Persistent link: https://www.econbiz.de/10013248324
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Does it Pay to Watch Central Bankers' Lips? The Information Content of Ecb Wording
Heinemann, Friedrich; Ullrich, Katrin - 2008
In this analysis, the informational content of central bank rhetoric is assessed based on the experience with the ECB since 1999. Among the ECB's communication channels we focus on the monthly press conferences. Based on a counting of certain signal words we construct a wording indicator...
Persistent link: https://www.econbiz.de/10014061640
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The Impact of Emu on Inflation Expectations
Heinemann, Friedrich; Ullrich, Katrin - 2008
This paper analyses the impact of the monetary regime change from the Bundesbank to the ECB in 1999 on inflation expectations. In the theoretical part, the Barro-Gordon model is used to derive the potential effect of a new central bank on inflation, inflation expectations and forecast errors....
Persistent link: https://www.econbiz.de/10014072389