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Reply to the comment Currency in circulation, the cash changeover and the Euro-Dollar exchange rate : by Franz Seitz and Ulrich Bindseil to CESifo working paper 493, May 2001, Why has the Euro been falling?

Sinn, Hans-Werner; Westermann, Frank - In: IFO-Studien : Zeitschrift für empirische … 48 (2002) 2, pp. 341-345

Persistent link: https://www.econbiz.de/10001694363

Currency in circulation, the cash changeover and the Euro-Dollar exchange rate

Seitz, Franz; Bindseil, Ulrich - In: IFO-Studien : Zeitschrift für empirische … 47 (2001) 4, pp. 531-548

This paper describes and analyses the evolution of euro area currency in circulation in the last years and especially in the run up to the cash change-over. In particular, it revisits the possible effect of the latter on the euro/dollar-exchange rate, which has been emphasised recently in the...

Persistent link: https://www.econbiz.de/10001678876

The tragedy of the commons and inflation bias in the euro area

Dinger, Valeriya; Steinkamp, Sven; Westermann, Frank - 2012

Central bank credit has expanded dramatically since the beginning of 2007 in some of the euro area member countries. This paper makes two contributions to understand this stylized fact. First, we discuss a simple model of monetary policy that includes (i) a credit channel and (ii) a common pool...

Persistent link: https://www.econbiz.de/10010343285

The tragedy of the commons and inflation bias in the euro area

Dinger, Valeriya; Steinkamp, Sven; Westermann, Frank - 2012

Central bank credit has expanded dramatically in some of the euro area member countries since the beginning of the financial crisis. This paper makes two contributions to understand this stylized fact. First, we discuss a simple model of monetary policy that includes (i) a credit channel and...

Persistent link: https://www.econbiz.de/10010291566