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Within the economic profession, it is a widely held view that the fiscal criteria of the Maastricht treaty are arbitrary numbers without economic foundation. Much of this criticism seems to overlook an important aspect - the strategic dimension of the criteria. This paper focuses on one...
Persistent link: https://www.econbiz.de/10011441024
Währungsunion. Hintergrund für diese Erweiterung ist das in Deutschland, aber auch in manchen anderen EU-Staaten, zu beobachtende …
Persistent link: https://www.econbiz.de/10011441036
Are the characteristics of the exchange rate regime relevant for the degree of fiscal discipline? What are the conclusions for fiscal behavior in Europe after the transition to EMU? These are the central questions that are analyzed in this paper from a theoretical point of view. After a general...
Persistent link: https://www.econbiz.de/10011441669
We implement a meta-regression-analysis for the budgetary impact of numerical fiscal rules. Based on 30 studies published in the last decade, we offer a consensus estimate with respect to the level of statistical significance, provide suggestive evidence for the effect size, and identify study...
Persistent link: https://www.econbiz.de/10011444762
With the introduction of the Euro, a single European money market has emerged. Further wholesale financial markets are considered to be highly integrated within the European Union. However, integration in retail financial markets is less advanced. For measuring financial market integration this...
Persistent link: https://www.econbiz.de/10011447291
Persistent link: https://www.econbiz.de/10001701684
Persistent link: https://www.econbiz.de/10001701687
We implement a meta-regression-analysis for the budgetary impact of numerical fiscal rules. Based on 30 studies published in the last decade, we offer a consensus estimate with respect to the level of statistical significance, provide suggestive evidence for the effect size, and identify study...
Persistent link: https://www.econbiz.de/10012994845
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
Persistent link: https://www.econbiz.de/10013202069