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This study inspects if there is greater convergence with Germany amongst the Eurozone founding members and if their …
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Union (EMU) ; Euro ; seignorage ; seignorage pooling ; seignorage change ; pool bias …
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We estimate a three-region (DE-REA-RoW) structural macroeconomic model, and we provide a counterfactual on how nominal exchange rate flexibility would have affected the German trade balance (TB) by simulating the shocks of the estimated model under a counterfactual flexible exchange rate regime....
Persistent link: https://www.econbiz.de/10011983671
rates EUR/GRD and EUR/ITL during the euro zone membership period. Leaving the euro area one can expect the following market … rates: EUR/GRD 600 and EUR/ITL 1850. That would mean 75% depreciation and 5% appreciation to the current euro parities EUR …
Persistent link: https://www.econbiz.de/10013166669
europäische Aktien- und Anleihemärkte sowie Euro-Währungskurse seit 1999, als die EZB die Verantwortung für eine gemeinsame und … einheitliche europäische Geldpolitik übernahm. Neben der Klärung der grundsätzlichen Frage, ob die einzelnen geldpolitischen …
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The impact of EMU on the transatlantic exchange rate stability raises the more general question of whether the exchange rate is a useful adjustment instrument or source of instability. We estimate a simple, three-country model for the United States, Germany and France, over the 1972-1995 period....
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