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This paper has been prepared as a part of a broader Ezoneplus project that evaluates European Monetary Union (EMU) and …
Persistent link: https://www.econbiz.de/10010274501
This paper tests the endogeneity hypothesis of OCA criteria (Frankel and Rose, 1998) in a cross-section of OECD countries between 1990 and 1999. It is shown that intraindustry trade actually causes the convergence of business cycles, while there is no direct relation between business cycles and...
Persistent link: https://www.econbiz.de/10010313398
leading to currency and financial crises whenever they perceive the authorities' commitment to EMU less credible. This article …
Persistent link: https://www.econbiz.de/10010274318
The main topic of the paper is optimal dynamics, i.e., timing of entry of the accession countries in the ERM 2 and EMU … delayed entry into the EMU? b) What are economic and other arguments for an early or late inclusion? c) What are the … with respect to the timing of entry in the ERM 2 as an interim institutional mechanism in the run-up to the EMU. …
Persistent link: https://www.econbiz.de/10010274503
Der vorliegende Diskussionsbeitrag entstand im Rahmen eines Forschungsprojektes über die monetäre Integration von fünf mittel- und osteuropäischen EU-Beitrittskandidaten (Estland, Polen, Slowenien, Tschechische Republik und Ungarn). Während die vorangegangenen Kapitel des Projekts die Vor-...
Persistent link: https://www.econbiz.de/10010300402
We contribute to the debate about the future of capital markets and corporate finance, which has ensued against the background of a significant boom in private markets and a corresponding decline in the number of firms and the amount of capital raised in public markets in the US and Europe. Our...
Persistent link: https://www.econbiz.de/10014000402
We contribute to the debate about the future of capital markets and corporate finance, which has ensued against the background of a significant boom in private markets and a corresponding decline in the number of firms and the amount of capital raised in public markets in the US and Europe. Our...
Persistent link: https://www.econbiz.de/10014282608
Terrorist incidents exert a negative, albeit generally short-lived, impact on markets and equity returns. Given the integration of global financial markets, mega-terrorist events also have a high contagion potential with their shock waves being transmitted across countries and markets. This...
Persistent link: https://www.econbiz.de/10011335432
The New Zealand Superannuation Fund is being established as a means of smoothing out the impact on the rest of the Crown's finances of the transition that will take place over the next fifty years to a permanently higher proportion of the population being eligible for New Zealand Superannuation,...
Persistent link: https://www.econbiz.de/10012115473
This paper aims at the provision of applicable recommendations for institutions and actors involved regarding the EMU … benefits and losses of EMU accession may differ with regard to the different issue areas. To get to clear-cut recommendations …
Persistent link: https://www.econbiz.de/10010266828