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Since the start of EMU national fiscal policy in the Eurozone can be conducted almost without paying any attention to consequences for the exchange rate. This might lower fiscal discipline. In order to shed light on the empirical relevance of this consideration, the impact of the exchange rate...
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should combine elements of market discipline with stabilisation in case of asymmetric shocks. Our proposal addresses the … shortcomings of most other reform designs, which fail to offer a solution for insolvent or non-cooperative euro countries. We …
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This paper explores the long-term relationship between public and private investment in the euro area. A stock … investment. Thus, the lack of public investment may have been restricting private investment and GDP growth in the euro area. …
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predicting euro area inflation. Excess liquidity is measured as the difference between the actual money stock and its fundamental …
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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...
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- and medium-sized enterprises in the euro area primarily takes place via bank loans and not through capital markets. Based … banking regulation. The panel estimation includes 706 banks from 15 Euro area member states and is conducted for the period …
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