Similar Search Results

The global financial crisis: Lessons for European Integration

Dabrowski, Marek - 2009

rescuing the pan-European financial institutions or member countries in distress, is very limited. These limitations have often … institutions or non-financial corporations which. This, in turn, has often led to economic nationalism,” which undermines the basic … rescue packages to both troubled financial institutions and member states in a coordinated way. In addition, the EU must act …

Persistent link: https://www.econbiz.de/10011430830

The global financial crisis and its impact on emerging market economies in Europe and the CIS: Evidence from mid-2010

Dabrowski, Marek - 2010

Emerging market economies were major beneficiaries of the economic boom before 2007. More recently, they have become victims of the global financial crisis. Their future development depends, to a large extent, on global economic prospects. Today the global economy and the European economy are...

Persistent link: https://www.econbiz.de/10011430853

The economic and monetary union countries vs. the global crisis

Kowalski, Tadeusz - Volkswirtschaftliche Fakultät, … - 2012

The global financial and economic crisis revealed institutional weaknesses and structural problems of particular Economic and Monetary Union (EMU) countries. The crisis and slowdown that followed had an impact on their relative competitiveness. Financial and economic turbulences of recent years...

Persistent link: https://www.econbiz.de/10011107690

Independence versus accountability of the European central bank - is there any solution?

Kvizda, Martin - In: Politická ekonomie 2005 (2005) 5, pp. 617-633

The article is concerned with analysis of independence of central banks of the EU Member States within the framework of the ESCB, as well as independence and responsibility of the ECB, and suggests an alternative institutional embodiment of its position, reflecting the specific framework of the...

Persistent link: https://www.econbiz.de/10005036607

Modelling Cyclical Divergence in the Euro Area: The Housing Channel

Noord, Paul van den - Economics Department, Organisation de Coopération et … - 2004

After the launch of the single currency the euro exchange rate fell and interest rates had converged towards the (low) German level. These shocks have worked out differently for the small and large countries. Housing markets have acted as an important vehicle of transmission of these shocks onto...

Persistent link: https://www.econbiz.de/10005045740

Automatic Stabilisers and Market Flexibility in EMU: Is There A Trade-Off?

Buti, Marco; Martinez-Mongay, Carlos; Sekkat, Khalid; … - Economics Department, Organisation de Coopération et … - 2002

It is often claimed that tax and welfare reforms that aim at enhancing efficiency may come at the cost of cyclical stabilisation. Reducing the generosity of welfare systems and lowering taxes may boost efficiency and output, and improve market adjustment to shocks. But, by reducing the size of...

Persistent link: https://www.econbiz.de/10005046223

Tax Incentives and House Price Volatility in the Euro Area: Theory and Evidence

Noord, Paul van den - Economics Department, Organisation de Coopération et … - 2003

A problem associated with inflation differentials in monetary unions is that the “crowding-in” effect of lower real interest rates associated with high inflation will initially outweigh the loss of competitiveness (crowding out). The crowding-in effect may produce volatility in house prices,...

Persistent link: https://www.econbiz.de/10005046242

The fiscal dimension of a common monetary policy: results with a non-Ricardian global model

Sgherri, S. - de Nederlandsche Bank - 2000

This paper studies the interaction of fiscal and monetary policy within an Economic and Monetary Union (EMU). Results suggest that, in a model in which bonds and money are counted as net wealth, the primary source of cross-country heterogeneity in response to a common monetary shock is the...

Persistent link: https://www.econbiz.de/10005030229

Monetary Policy in Stage Two of EMU

Moore, Michael J; O'Connell, Thomas - C.E.P.R. Discussion Papers - 1992

As Stage Two of European Monetary Union (EMU) in Europe develops, a major issue is the coordination of monetary policies. Member countries of the European Monetary System (EMS) will have to align their domestic source moneys. This paper argues that for this purpose, the Treasury and central bank...

Persistent link: https://www.econbiz.de/10005666742

The External Policy of the Euro Area: Organizing for Foreign Exchange Intervention

Henning, C. Randall - Peter G. Peterson Institute for International Economics … - 2006

institutions of exchange rate policymaking bear substantially on the euro area’s role in international monetary conflict and … currency markets. Drawing on interviews of officials in finance ministries, central banks, European institutions, and …

Persistent link: https://www.econbiz.de/10005627706