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Target Losses in Case of a Euro Break-Up

Sinn, Hans-Werner - 2012

Evaluation of the financial costs of a Eurozone breakup depends critically on the interpretation of TARGET balances. While it has been argued that TARGET claims in the Eurozone can be written off without incurring any losses on the claimants as the value of fiat money is independent of the...

Persistent link: https://www.econbiz.de/10013098046

The effective rate of interest on target balances

Sinn, Hans-Werner - 2019

While the formal decision of the ECB Council to impose interest on Target claims and liabilities is meaningless, this paper shows that the pooling of primary interest income among national central banks in the Eurozone implies that Target and cash balances do, in fact, bear an effective rate of...

Persistent link: https://www.econbiz.de/10012110196

Hans Werner Sinn and Timo Wollmershaeuser's target loans, current account balances and capital flows : the ECB's rescue faciliy. ; a comment

Schilirò, Daniele - In: Journal of advanced research in law and economics : JARLE 4 (2013) 1, pp. 66-69

Persistent link: https://www.econbiz.de/10010530278

The European debt crisis

Sinn, Hans-Werner - In: Macroeconomics at the service of public policy, (pp. 24-35). 2013

Persistent link: https://www.econbiz.de/10009723600

The European balance of payments crisis : an introduction

Sinn, Hans-Werner - In: CESifo forum : a bi-monthly journal on European … 13 (2012), pp. 3-10

Persistent link: https://www.econbiz.de/10009514304

Special issue: The European balance of payment crisis

Sinn, Hans-Werner (contributor) - 2012

Persistent link: https://www.econbiz.de/10009514498

The Economics of Target Balances : From Lehman to Corona

Sinn, Hans-Werner - 2020 - 1st ed. 2020.

be a central essential feature of enabling the euro-system to survive a series of major shocks. In this beautifully and … entailed. An essential read for anyone interested in the workings of the euro-system." - Charles Goodhart, Emeritus Professor …-Crisis substantial reforms in the institutional organization of the Euro-Area and the EU will become necessary. It will help policy …

Persistent link: https://www.econbiz.de/10012399794

The economics of target balances : from Lehman to Corona

Sinn, Hans-Werner - 2020

have been expressed regarding them. It uses the Target statistics to analyze the course of the euro crisis and the ECB …

Persistent link: https://www.econbiz.de/10012291928

Austerity, Growth and Inflation - Remarks on the Eurozone's Unresolved Competitiveness Problem

Sinn, Hans-Werner - 2013

While the financial protection measures enacted by the ECB and the community of Eurozone members have calmed financial markets, they have left the competitiveness problem of the Eurozone's southern countries and France unresolved. The paper compares price inflation before the crisis with the...

Persistent link: https://www.econbiz.de/10013087283

Target Balances and the German Financial Account in Light of the European Balance-of-Payments Crisis

Sinn, Hans-Werner - 2013

As shown in Sinn and Wollmershäuser (2012a), during the European balance-of-payments crisis, inter-governmental credit and Target credit granted by core-country central banks have replaced private international capital flows in financing the crisis countries' current account deficits, and even...

Persistent link: https://www.econbiz.de/10013088462