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EMU and capital markets
Gros, Daniel - 1997
Persistent link: https://www.econbiz.de/10000666636
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One size must fit all national devergences in a monetary union
Gros, Daniel; Hefeker, Carsten - 2000
What political objective should a common central bank in a heterogeneous monetary union pursue? Should it base its decisions on the EU-wide average of inflation and growth or should it instead focus on (appropriately weighted) national rates of inflation and growth? We find that a central bank...
Persistent link: https://www.econbiz.de/10001524212
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Asymmetries in the Trans-Atlantic monetary policy relationship : does the ECB follow the Fed? ; presented at CESifo Area Conference on Macro, Money and International Finance, Febru...
Belke, Ansgar; Gros, Daniel - 2005
The belief that the ECB follows the US Federal Reserve in setting its policy is so entrenched with market participants …
Persistent link: https://www.econbiz.de/10002658281
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Who needs foreign banks?
Gros, Daniel - 2003
This paper shows that countries with weak banking system and fiscal institutions, should benefit from the presence of foreign banks, which can constitute a commitment and transparency device. Foreign banks can also reduce the probability of self-fulfilling speculative attacks. A strong presence...
Persistent link: https://www.econbiz.de/10001807083
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EMU and capital markets : the institutional framework
Gros, Daniel - 1998
markets will not be unified by the introduction of the euro. National central banks have a vested interest in preserving local … expressed in euro imperfect substitutes across borders. Prudential control will also continue to be handled differently from … country to country. In the long run these national idiosyncracies cannot survive competitive pressures in the euro area. The …
Persistent link: https://www.econbiz.de/10009768844