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On the Role of Conflicting National Interests in the ECB Council

Grüner, Hans Peter - C.E.P.R. Discussion Papers - 1999

This paper studies the strategic interaction of Euroland's national macroeconomic players and the ECB council under two alternative assumptions on central bank behavior: (i) all members of the ECB council are concerned about Euroland's macroeconomic aggregates and (ii) the ECB council is...

Persistent link: https://www.econbiz.de/10005504342

A Lender of Last Resort for Europe

Aglietta, Michel - Centre d'études prospectives et d'informations … - 1999

Persistent link: https://www.econbiz.de/10005406579

German Monetary Union, the Bundesbank and the EMS collapse

HEFEKER, C. - In: Banca Nazionale del Lavoro Quarterly Review 47 (1994) 191, pp. 379-398

monetary union (EMU). Two major causes have been identified for one crisis in the EMS in September 1992 and its subsequent …

Persistent link: https://www.econbiz.de/10010765250

German Monetary Union, the Bundesbank and the EMS collapse

HEFEKER, C. - In: BNL Quarterly Review 47 (1994) 191, pp. 379-398

monetary union (EMU). Two major causes have been identified for one crisis in the EMS in September 1992 and its subsequent …

Persistent link: https://www.econbiz.de/10010854312

Price convergence in Europe from a macro perspective: Trends and determinants (1960-2003)

Faber, Riemer P.; Stokman, Ad C.J. - de Nederlandsche Bank - 2004

This paper studies the effects of more than 40 years of European integration on prices. Up to now, most empirical research in this area has been micro-based. We follow a macro approach. On the basis of scaled HICP strong evidence is found for price convergence in Europe, especially in the 1960s...

Persistent link: https://www.econbiz.de/10005101821

Price Convergence in Europe from a Macro Perspective: Product Categories and Reliability

Faber, Riemer P.; Stokman, Ad C.J. - de Nederlandsche Bank - 2005

-tradable products. Compared to the US, the dispersion level of consumer prices has always been higher in the euro area, but EMU is …

Persistent link: https://www.econbiz.de/10005106638

On the (A)symmetry of Shocks in EMU: Is it that Shocking?

Verhoef, B.A. - de Nederlandsche Bank - 2002

A disadvantage of EMU is the lack of national monetary policy to absorb country-specific shocks. The seriousness of … shocks within EMU. The aim of this paper is to analyse empirically whether shocks in EMU became more or less symmetric. The … results suggest that within EMU the symmetry of demand shocks increased during the last two decades, whilst the symmetry of …

Persistent link: https://www.econbiz.de/10005106691

The (A)Symmetry of shocks in the EMU

Verhoef, Bastiaan A. - de Nederlandsche Bank - 2003

A disadvantage of EMU is the lack of national monetary policy to absorb country-specific shocks. The seriousness of … shocks within EMU. Previous empirical research on the asymmetry of shocks mainly focused on correlation coefficients between … shocks in the EMU. The aim of this paper is to analyse empirically whether shocks in EMU became more or less symmetric. By …

Persistent link: https://www.econbiz.de/10005106766

Macroeconomic Policies of the Economic and Monetary Union: Theorectical Underpinnings and Challenges

Arestis, Philip; Sawyer, Malcolm - EconWPA - 2003

decipher the type of economic analysis and macroeconomic policies of the Economic and Monetary Union (EMU) theoretical and … the EMU macroeconomic policies lie in their potential to achieve full employment and low inflation in the euro area. We … conclude that the institutional and policy arrangements surrounding the EMU and the euro are neither adequate for dealing with …

Persistent link: https://www.econbiz.de/10005076715

The role of national central banks within the European System of Central Banks: The example of De Nederlandsche Bank

Wellink, Nout; Chapple, Bryan; Maier, Philipp - EconWPA - 2002

This paper considers the position of national central banks within the ESCB. The funda-mental framework underlying the ESCB is that of a system of central banks in which component institutions are individually and collectively responsible for carrying out vari-ous tasks. Within this framework,...

Persistent link: https://www.econbiz.de/10005076804