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Eichler, Stefan; Rövekamp, Ingmar - 2017

novel measure of eurozone exit risk. We find that while domestic bank stocks are not significantly affected by domestic exit …In the course of eurozone exit, the underlying stocks of American Depositary Receipts (ADRs) would be redenominated … real sector, exposure to eurozone exit risk is heterogeneous among industries and is less negative for more indebted …

Persistent link: https://www.econbiz.de/10011664386

Austerity, growth and inflation : remarks on the Eurozone's unresolved competitiveness problem

Sinn, Hans-Werner - 2013

While the financial protection measures enacted by the ECB and the community of Eurozone members have calmed financial … markets, they have left the competitiveness problem of the Eurozone's southern countries and France unresolved. The paper …

Persistent link: https://www.econbiz.de/10009691625

The benefits and costs of highly expansionary monetary policy

Rawdanowicz, Łukasz; Bouis, Romain; Watanabe, Shingo - 2013

How far to go – and to remain – in the direction of highly expansionary monetary policy hinges on the balance of marginal benefits and costs of additional monetary easing and its expected evolution over time. This paper sketches a framework for assessing this balance and applies it to four...

Persistent link: https://www.econbiz.de/10010231107

Tracking the Euro

Koen, Vincent; Boone, Laurence; de Serres, Alain; … - 2001

During the first two years of monetary union, the euro's weakness surprised most market participants. Explanations proliferated ranging from fundamentals such as differences in growth prospects to psychological factors such as herd behaviour, but no single story fully accounts for the observed...

Persistent link: https://www.econbiz.de/10012446955

The External Policy of the Euro Area : Organizing for Foreign Exchange Intervention

Henning, C. Randall - 2006

international organizations, as well as public sources, the paper specifies the division of labor among the European Central Bank …

Persistent link: https://www.econbiz.de/10012733365

Sudden stops and asset purchase programmes in the euro area

Fabiani, Josefina; Fidora, Michael; Setzer, Ralph; … - 2021

This paper analyses the incidence and severity of sudden stops in euro area countries before and after the introduction of the ECB's asset purchase programmes. We define sudden stops as abrupt declines in private net financial inflows, i.e. total flows adjusted for EU and IMF loans and changes...

Persistent link: https://www.econbiz.de/10012643263

Global and Local Currency Effects on Euro Area Investment in Emerging Market Bonds

Adriaan Boermans, Martijn - 2020

We analyze how global and local factors affect portfolio allocation by euro area investors in emerging markets at the bond-level. First, cross-sectional analysis reveals a strong preference for home (Euro) currency bonds. Second, panel regressions, whether at the bond or aggregate flows level,...

Persistent link: https://www.econbiz.de/10012839247

Purchasing Power Parity between the UK and the Euro Area

Canarella, Giorgio - 2015

) between the UK and the Euro Area, which we represent by Germany, the largest of its members. We conduct the empirical analysis …

Persistent link: https://www.econbiz.de/10013036019

Financial Shocks and Exchange Market Pressure

Patnaik, Ila - 2020

The taper tantrum episode induced a sudden outflow of capital from emerging markets back to the United States. This paper analyzes exchange market pressure in 93 developing and emerging market economies during this episode, drawing on recent methodological improvements in measuring exchange...

Persistent link: https://www.econbiz.de/10012835369

Internal Devaluations and Equilibrium Exchange Rates : New Evidences and Perspectives for the EMU

Saadaoui, Jamel - 2019

From the onset of the euro crisis to the Brexit vote, we have witnessed impressive reductions of current account imbalances in peripheral countries of the euro area. These reductions can be the result of either a compression of internal demand or an improvement in external competitiveness. In...

Persistent link: https://www.econbiz.de/10012901737

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