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Author: Mr.Johannes Wiegand Publisher: International Monetary Fund ISBN: 1484311590 Category : Business & Economics Languages : en Pages : 20
Book Description
When the euro was introduced in 1998, one objective was to create an alternative global reserve currency that would grant benefits to euro area countries similar to the U.S. dollar’s “exorbitant privliege”: i.e., a boost to the perceived quality of euro denominated assets that would increase demand for such assets and reduce euro area members’ funding costs. This paper uses risk perceptions as revelaed in investor surveys to extract a measure of privilege asscociated with euro membership, and traces its evolution over time. It finds that in the 2000s, euro area assets benefited indeed from a significant perceptions premium. While this premium disappeared in the wake of the euro crisis, it has recently returned, although at a reduced size. The paper also produces time-varying estimates of the weights that investors place on macro-economic fundmentals in their assessments of country risk. It finds that the weights of public debt, the current account and real growth increased considerably during the euro crisis, and that these shifts have remained in place even after the immediate financial stress subsided.
Author: Mr.Johannes Wiegand Publisher: International Monetary Fund ISBN: 1484311590 Category : Business & Economics Languages : en Pages : 20
Book Description
When the euro was introduced in 1998, one objective was to create an alternative global reserve currency that would grant benefits to euro area countries similar to the U.S. dollar’s “exorbitant privliege”: i.e., a boost to the perceived quality of euro denominated assets that would increase demand for such assets and reduce euro area members’ funding costs. This paper uses risk perceptions as revelaed in investor surveys to extract a measure of privilege asscociated with euro membership, and traces its evolution over time. It finds that in the 2000s, euro area assets benefited indeed from a significant perceptions premium. While this premium disappeared in the wake of the euro crisis, it has recently returned, although at a reduced size. The paper also produces time-varying estimates of the weights that investors place on macro-economic fundmentals in their assessments of country risk. It finds that the weights of public debt, the current account and real growth increased considerably during the euro crisis, and that these shifts have remained in place even after the immediate financial stress subsided.
Author: Mr.Johannes Wiegand Publisher: International Monetary Fund ISBN: 1484309251 Category : Business & Economics Languages : en Pages : 20
Book Description
When the euro was introduced in 1998, one objective was to create an alternative global reserve currency that would grant benefits to euro area countries similar to the U.S. dollar’s “exorbitant privliege”: i.e., a boost to the perceived quality of euro denominated assets that would increase demand for such assets and reduce euro area members’ funding costs. This paper uses risk perceptions as revelaed in investor surveys to extract a measure of privilege asscociated with euro membership, and traces its evolution over time. It finds that in the 2000s, euro area assets benefited indeed from a significant perceptions premium. While this premium disappeared in the wake of the euro crisis, it has recently returned, although at a reduced size. The paper also produces time-varying estimates of the weights that investors place on macro-economic fundmentals in their assessments of country risk. It finds that the weights of public debt, the current account and real growth increased considerably during the euro crisis, and that these shifts have remained in place even after the immediate financial stress subsided.
Author: International Monetary Fund. European Dept. Publisher: International Monetary Fund ISBN: 1484337336 Category : Business & Economics Languages : en Pages : 75
Book Description
This 2017 Article IV Consultation highlights that Croatia continued its third year of positive economic growth in 2017. Growth is expected to stay at similar levels in the near future but to decelerate over the medium term. Consumer prices increased at a moderate pace and wage growth was also moderate as unemployment remained high. The external current account is expected to record another strong surplus, underpinned by robust performance of exports and tourism and lower repatriation of profits as banks absorbed losses from Agrokor. The balance of risks has improved but vulnerabilities remain sizable as public and external debt levels are still high, and the full impact of the Agrokor restructuring is yet unknown.
Author: Sieglinde Gstöhl Publisher: Routledge ISBN: 0429788908 Category : Political Science Languages : en Pages : 327
Book Description
This edited volume provides a timely analysis of the European Union’s ‘privileged’ partnerships with neighbouring countries, identifying key points of comparison. It analyses which policy areas are covered and why, the reasons why a specific institutional arrangement has been chosen, the major advantages and shortcomings for both sides and how effectively the privileged partnerships have worked in practice. Drawing on a number of case studies, the book highlights critical junctures and path dependence in the EU’s external relations and examines what general lessons can be drawn regarding privileged partnerships, in particular with a view to the UK’s post-Brexit relationship with the EU. This book will be of key interest to scholars, students and practitioners in EU affairs, European politics, diplomacy studies, and more broadly to international relations and law.
Author: International Monetary Fund. Research Dept. Publisher: International Monetary Fund ISBN: 1484327292 Category : Business & Economics Languages : en Pages : 15
Book Description
The Fall 2017 IMF Research Bulletin includes a Q&A article covering "Seven Questions on the Globalization of Farmland" by Christian Bogmans. The first research summary, by Manmohan Singh and Haobing Wang is "Central Bank Balance Sheet Policies: Some Policy Implications." The second research summary is "Leaning Against the Windy Bank Lending" by Giovanni Melina and Stefania Villa. A listing of new IMF Working Papers and Staff Discussion Notes is featured, as well as new titles from IMF Publications. Information on IMF Economic Review is also included.
Author: Panikos Panayi Publisher: Routledge ISBN: 1317877934 Category : History Languages : en Pages : 285
Book Description
The first history of Europe since 1945 which examines the continent from a mainly ethnic perspective, Panikos Panayi has drawn on years of research to produce this comparative and exploratory account of the experience of ethnic minorities in post-war Europe. The coverage encompasses all categories of minorities including immigrants and refugees, localised ethnic groupings and dispersed peoples. Geographically, the scope of the book ranges from the Atlantic to the Urals and the Mediterranean to the Arctic, looking in particular at the Soviet Union, Britain, France, Germany, Romania, Cyprus and the former Yugoslavia.
Author: Great Britain. Parliament. House of Commons. Select Committee on Procedure Publisher: The Stationery Office ISBN: 9780215038586 Category : Political Science Languages : en Pages : 94
Book Description
The House should be given the opportunity to restate its acceptance of the principle behind the proposal that lay members be added to the Committee on Standards and Privileges, the Procedure Committee concludes in a report published today. The committee's report responds to the resolution of the House of 2 December last year that lay members should sit on the Committee on Standards and Privileges. If that principle is restated, the House should study with care the arguments made for the inclusion of lay members with or without voting rights, and decide whether lay members should be appointed to the committee with full voting rights or whether they should be appointed with more limited rights protected by rules on quorum and publication of their opinion or advice. A decision in favour of membership with full voting rights would require legislation to be brought forward to put beyond reasonable doubt any question of whether parliamentary privilege applies to the Committee on Standards where it has an element of lay membership. The Procedure Committee recommends that the Committee on Standards and Privileges should be split in two, and that lay members should be included only on the committee relating to standards. The committee also makes a number of practical recommendations about the number, appointment and term of office of lay members.
Author: Mr.Johannes Wiegand
Author: Mr.Johannes Wiegand
Author: Mr.Johannes Wiegand
Author: International Monetary Fund. European Dept.
Author: Pascal Fontaine
Author: Sieglinde Gstöhl
Author: International Monetary Fund. Research Dept.
Author: Panikos Panayi
Author: Hanspeter K. Scheller
Author: Great Britain. Parliament. House of Commons. Select Committee on Procedure
Author: Michael Emerson