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Real exchange rates, current accounts and competitiveness issues in the euro area

Mirdala, Rajmund - 2016

This paper contributes to the understanding of the international financial linkages created by US banks by looking at the geographical composition and structure of the balance sheet of foreign branches. The empirical investigation, which is based on a novel dataset containing balance sheet...

Persistent link: https://www.econbiz.de/10011576937

Current Account Imbalances and the Euro Area. Alternative Views

Mazzocchi, Ronny - 2019

The critical role of current account imbalances (CAI) is widely shared in the consensus narratives of the European crisis that followed the Great Recession. On the basis of this interpretation, new EU initiatives raised, in particular the so-called “Six Pack” adoption in 2011 and the...

Persistent link: https://www.econbiz.de/10012868474

Sovereign Debt Markets in Turbulent Times : Creditor Discrimination and Crowding-Out Effects

Broner, Fernando - 2014

reallocated from the private to the public sector, reducing investment and deepening the recession even further. To account for …. This implies that domestic debt purchases displace productive investment. The model shows that these purchases reduce …

Persistent link: https://www.econbiz.de/10013058811

Sovereign Debt Markets in Turbulent Times : Creditor Discrimination and Crowding-Out

Broner, Fernando - 2014

reallocated from the private to the public sectors, reducing investment and deepening the recessions even further. To account for …. This implies that domestic debt purchases displace productive investment. The model shows that these purchases reduce … other countries in the Eurozone, and how they may be addressed by policies at the European level …

Persistent link: https://www.econbiz.de/10013059093

Exchange Rate Policies for the Transition to Emu

Bofinger, Peter; Wollmershaeuser, Timo - 2005

In this paper we formalize the framework for monetary and exchange rate policy presented in Bofinger and Wollmershäuser [2001a]. We develop a simple comparative static model for an open economy that allows us to discuss monetary policy under the exchange rate strategies of independently...

Persistent link: https://www.econbiz.de/10014066373

Risk sharing revisited : empirics and concepts

Harms, Patrick Christian - 2021

The paper adds to the literature as follows: starting from the benchmark model of Asdrubali et al. (1996), we reproduce the original specification with a data set obtained from the authors as well as possible. In a second step, this specification is brought to euro area data. Again, the results...

Persistent link: https://www.econbiz.de/10012436572

Price Insurance Aspects of Monetary Union

Von Furstenberg, George M. - 2004

Omitted from traditional OCA criteria, price effects are important because regional monetary union protects from pricing risks and contributes to greater uniformity and efficiency in price setting. Among member countries it reduces price dispersion in tradables in part by irrevocably fixing the...

Persistent link: https://www.econbiz.de/10014074373

Wettbewerbsfähigkeit und Leistungsbilanzen in einer nicht optimalen Währungsunion

Podstawski, Maximilian - 2013 - 1. Aufl.

Persistent link: https://www.econbiz.de/10009782874

Les déséquilibres externes des Etats-Unis conduisent-ils à des asymétries au sein de l'Union économique et monétaire?

Eyquem, Aurélien - In: Annals of economics and statistics 103/104 (2011), pp. 223-243

Persistent link: https://www.econbiz.de/10009747643

Endogenous Savings Rate with Forward-Looking Households in a Recursive Dynamic CGE Model : Application to South Africa

Lemelin, Andre - 2014

In the vast majority of recursive dynamic CGE models, the savings rate is constant and exogenous. Intertemporal CGE models, by contrast, are solved simultaneously for all periods, and agents optimize intertemporally. But the theoretical consistency of intertemporal optimization is achieved only...

Persistent link: https://www.econbiz.de/10013050223