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, the eurozone and beyond. We argue genesis of this crisis lies in the integration negotiations of 1991, ratified in 1992 …. These produced a flawed economic model within the eurozone. Given the seeds of decay were planted at origin; we argue the … solution can be found through a reconstructed eurozone via looser integration, where countries less equipped to deal with the …
Persistent link: https://www.econbiz.de/10011449877
This chapter surveys recent research on international financial crises. A financial crisis is characterized by a sudden, dramatic outflow of financial resources from an economy with an open capital account. This outflow may be primarily driven by the expectation of a large nominal devaluation,...
Persistent link: https://www.econbiz.de/10014025374
crisis in the Euro-zone is driven primarily by fiscal fragility in the South. A relatively simple model shows how poor …
Persistent link: https://www.econbiz.de/10013066126
Persistent link: https://www.econbiz.de/10009356814
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The paper evaluates current account dynamics in countries with different exchange rate regimes within the EU. In this, the empirical analysis explicitly differentiates between countries with a flexible and a fixed exchange rate regime and members of a monetary union. In addition, we model the...
Persistent link: https://www.econbiz.de/10010211960
Persistent link: https://www.econbiz.de/10009697974
Stellgrößen das Risiko birgt, die Wachstumsrate der Eurozone weiter zu verringern. Es wird festgestellt, dass in der Vergangenheit … unten korrigiert wurden, während die makroökonomische Situation der Eurozone sich seit dem Beginn der Eurozonenkrise im …
Persistent link: https://www.econbiz.de/10009672514
In this paper the euro crisis is viewed as the most recent episode of the crisis of financedominated capitalism. Therefore, two major features of finance-dominated capitalism, the increasing inequality of income distribution and the rising imbalances of current accounts, are analysed for a set...
Persistent link: https://www.econbiz.de/10009572209