Abstract Business confidence matters for future growth as it relies on opinion surveys of developments in production activities, orders and stocks finished products. Is then affected by economic policy uncertainty oil price asymmetries the OECD countries? With limited evidence literature, we adopt Augmented Mean Group (AMG) estimator following cross-sectional dependence, non-stationarity cointe...

This paper investigates the effect of European Monetary Union on the integration of the financial services industry within European using data on the announcements of M&A’s within the industry. We find some evidence that EMU has helped financial integration within the euro area. In addition, financial institutions in EMU countries became more active in initiating integration between EMU and non...

The Stability and Growth Pact, originally designed to protect the integrity of monetary union based on price stability and fiscal discipline, has created a rift between states and institutions. Larger states like Germany and France have repeatedly violated the terms of the pact, while smaller states like the Netherlands and Austria have steadfastly defended it. This paper explores how size has ...

In the present paper, we investigate financial homogeneity of euro area economies by contrasting eurozone countries’ responses to monetary policy steps theoretical assumptions liquidity trap phenomenon. Our assumption is that are not completely homogeneous. Hence, in a zero-interest rate environment, asset holding decisions economic agents exhibit detectable differences across countries. We ver...

Advances in information technology now make it possible for non-government entities, or governments themselves, to establish and run a national parallel paperless monetary system at very low cost and launch it on very short notice. The workings of such a system is described and discussed. Such systems may ameliorate the dire state of affairs in the hardest hit eurozone countries, and increase t...

Mr. Feldstein: I thought this was a helpful paper: interesting analysis and interesting data. I would like to comment primarily on the discussion of the eurozone, but first make a remark about what you said about mitigating portfolio risk, by increasing private portfolio investment abroad. I do not understand how, when problems arise, countries could cause these private foreign investments to b...

Capitalising on Constraint - Bailout Politics in Eurozone Countries, by Catherine Moury, Stella Ladi, Daniel Cardoso and Angie Gago, Manchester University Press, 2021 Papazisis Publications 2022

Theoretical background: The problem of the impact pandemic on consumer credit market in Eurozone countries is important both from a cognitive point view and perspective economic practice. current state knowledge situation incomplete. It more common to find works concentrating effect regulations, banking sector, or evaluation selected countries, European Europe as whole. As result, many accounts...

Different developments in wages and unit labor costs across countries can reduce the synchronization of business cycles within a currency area therefore be potential source asymmetric shocks and/or response to common shock. In this paper, we use novel econometric methods identify differences similarities wage determination Eurozone countries. Results show that have different determinants euro c...

We investigate the impact of ECB conventional (CMP) on national banking indices 10 Eurozone countries and a Eurozone-wide index using event study technique. find that announcements unexpected increases in interest rates benefit French, German, Greek Italian banks when are low, while other periods, effect is muted. A plausible explanation bank profits squeezed low because reluctant to push depos...