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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: Ettore Recchi Publisher: Springer ISBN: 1137316020 Category : Social Science Languages : en Pages : 164
Book Description
With a particular focus on their integration paths, political participation and identifications, this book draws on large cross-national surveys of this specific population carried out between 2004 and 2012, as well as in-depth interviews and aggregate statistical data from a plethora of sources.
Author: Michael Kaeding Publisher: Springer ISBN: 331993046X Category : Political Science Languages : en Pages : 149
Book Description
With a Foreword by the President of the European Parliament, Antonio Tajani. This book sheds light on the political dynamics within the EU member states and contributes to the discussions about Europe. Authors from all member states as well as Iceland, Norway, Switzerland and Turkey assess how their country could get more involved in the European debate, taking the reader on a journey through various political landscapes and different views. The chapters cover issues ranging from a perceived lack of ambition at the periphery to a careful balancing act between diverse standpoints at the geographical centre. Yet, discussions share common features such as the anxiety regarding national sovereignty, the migration and border discourse, security concerns as well as the obvious need to regain trust and create policies that work. The book contributes vigorously to the debate about Europe in all capitals and every corner of the continent, because this is where its future will be decided.
Author: Sertif Demir Publisher: Universal-Publishers ISBN: 1627345868 Category : History Languages : en Pages : 348
Book Description
This books aims at analyzing Turkish foreign and security policies in the 21st century. Turkey’s foreign and security policies have become the focus of academic discussions since Turkey is located in the middle of the most unstable region in the world. Turkey’s self-assured foreign policy has similarly attracted the attention of academicians worldwide. Meanwhile, Turkey’s security policy has also been the subject of discussions as the country has been struggling with ethnic terrorism for 35 years. Furthermore, the US invasion of Iraq and the recent Syrian civil war, along with other factors, have caused religious radicalism to expand its power throughout the Middle East, which has heavily impacted on Turkey’s security. Turkey’s longstanding problems with its neighbors have also affected the general characteristics of its foreign policy, particularly leading to its securitization.
Author: Thomas Beukers Publisher: Oxford University Press ISBN: 0198871236 Category : Law Languages : en Pages : 481
Book Description
The European Central Bank (ECB) was first introduced in the European legal order on the occasion of the Treaty of Maastricht (1992). An official EU institution which is governed by EU law, the ECB of modern times differs vastly from its inception in 1998, which manifests in three main ways: monetary policy options, consideration of concerns other than low inflation in its policy-making, and its role in the Banking Union. This edited collection offers a retrospective and prospective account of the ECB, charting its evolution in detail with chapters written by leading academics and practitioners. Part 1 examines the substantive changes to monetary policy introduced by the ECB as a consequence of the financial and sovereign debt crisis by considering their legal basis. Part 2 moves beyond monetary policy by shifting to the new roles that the ECB has been called upon to play, notably in banking supervision and resolution. Parts 3 and 4 deal with transformations to inter- and intra-institutional relations, and take stock of these transformations, reflecting on the nature of the ECB of current times and which direction it could be heading in the future. The authors analyse the most salient and controversial elements of the ECB's crisis response, including unconventional monetary policy measures and the ECB's risk management strategy. Beyond monetary policy, the book further examines the role played by objectives such as financial stability and environmental sustainability, the ECB's relationship to the Lender of Last Resort function, as well as its new responsibilities in the Banking Union.
Author: Andrea Ciarini Publisher: Taylor & Francis ISBN: 1000903737 Category : Political Science Languages : en Pages : 123
Book Description
This book focuses on the main institutional changes affecting the Social Investment approach as the framework for the European social agenda. The contributions gathered address these issues from different angles, placing two fundamental issues at the centre of the analysis. The first concerns the promotion of the strategic actions of European institutions and the national governments aimed at making social investment a recovery priority in the Eurozone. The second aims to make the social investment approach compatible not only with a high road to growth, as it is in the Stock-Flow-Buffer scheme, but also with the right to balance market and non-market activities as a universal right linked to a different combination of working and living time. It will be of interest to all scholars and students of social policy and European politics.
Author: V. P. Malik Publisher: Lancer Publishers ISBN: 9788170622475 Category : Political Science Languages : en Pages : 234
Book Description
Contributed articles presented earlier at an international conference organized by Observer Research Foundation and Rosa Luxemburg Stiftung.
Author: Ettore Recchi Publisher: Edward Elgar Publishing ISBN: 1849802319 Category : Political Science Languages : en Pages : 321
Book Description
Pioneers of European Integration contributes greatly to European sociology by offering unique quantitative data on the so far uncharted group of intra-EU movers. Theresa Kuhn, European Sociological Review Free movement has become a defining feature of European society. This important study answers the question who are these free movers? Using both quantitative and qualitative research evidence, it brings new perspectives to the sociology of European migration and integration, broadening the analysis from traditional labour migrants to various new kinds of spatial and social mobility in the continent. Russell King, University of Sussex and Sussex Centre for Migration Research, UK The free movement of EU citizens is the most visible sociological consequence of the remarkable process of European integration that has transformed the continent since the Second World War. Pioneers of European Integration offers the first systematic analysis of the small but symbolically potent number of Europeans who have chosen to live and work as foreigners in another member state of the EU. Based on an original survey of 5000 people moving to and from the EU s five largest countries, the book documents the demographic profile, migration choices, cultural adaptation, social mobility, political participation and media use of these pioneers of a transnational Europe, as well as opening a window to the new waves of intra-EU East West migrations. Students and scholars of sociology, political science, human geography, anthropology, migration studies and European studies will all warmly welcome the volume. Civil servants and policymakers will also find this book an essential tool in coming to terms with the implications of EU citizenship and the transformative effects of this unprecedented European integration from below .
Author: Julie Smith Publisher: John Wiley & Sons ISBN: 0470752831 Category : Political Science Languages : en Pages : 225
Book Description
As the EU and NATO prepare to enlarge, this volume assesses the likely impact on new member states and their neighbours remaining outside these two organizations. Through a combination of thematic and case study chapters it discusses the economic and security implications of enlargement for both ‘insiders’ and ‘outsiders’. Assesses the likely impact of EU and Nato enlargement. Investigates three thematic areas: economic cooperation, security and defence, and free movement of people. Considers five country case studies. Outlines the current relations between the states, how these relate to the past and what effect enlargement will have.
Author: Mr.Johannes Wiegand
Author: Mr.Johannes Wiegand
Author: Mr.Johannes Wiegand
Author: Ettore Recchi
Author: Michael Kaeding
Author: Sertif Demir
Author: Thomas Beukers
Author: Andrea Ciarini
Author: V. P. Malik
Author: Ettore Recchi
Author: Julie Smith