Arbeitspapier
The anticipated and concurring effects of the EMU: exchange rate volatility, institutions and growth
Reduced exchange rate volatility and higher and less heterogeneous quality of institutional rules and macroeconomic policies are two of the main (anticipated and concurring) effects expected from a currency union.In this paper we measure the magnitude of these two effects on the Euro area countries, looking at real effective exchange rates (REER) and at different indicators of quality of institutional rules and macroeconomic policies (QIRMP).We find that the first effect is much stronger than the second when we compare relative changes on Euro area countries and the rest of the world in the relevant period.We further evaluate the impact of both effects on economic growth on a larger sample of countries. Our findings show that both have significant impact on levels (more robust) and on rates of growth (weaker) of per capita GDP.
- ISBN
-
952-462-148-7
- Sprache
-
Englisch
- Erschienen in
-
Series: Bank of Finland Discussion Papers ; No. 15/2004
- Klassifikation
-
Wirtschaft
- Thema
-
real exchange rate
volatility
institutional rules
macroeconomic policy
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Bagella, Michele
Becchetti, Leonardo
Hasan, Iftekhar
- Ereignis
-
Veröffentlichung
- (wer)
-
Bank of Finland
- (wo)
-
Helsinki
- (wann)
-
2004
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Bagella, Michele
- Becchetti, Leonardo
- Hasan, Iftekhar
- Bank of Finland
Entstanden
- 2004
Ähnliche Objekte (12)
Return-volatility linkages in the international equity and currency markets
How large banks use CDS to manage risks: bank-firm-level evidence
Do networks in the stock exchange industry pay off? European evidence
Secrecy, information shocks, and corporate investment: Evidence from European Union countries
Private information and lender discretion across time and institutions
Credit default swaps and bank loan sales: evidence from bank syndicated lending
Are expansions cost effective for stock exchanges? A global perspective
Financial crises and bank failures: a review of prediction methods
Real effects of bank capital regulations: Global evidence
Friends for the benefits: The effects of political ties on sovereign borrowing conditions
Pricing risky bank loans in the new Basel II environment
The transparency of the banking industry and the efficiency of information-based bank runs
Return-volatility linkages in the international equity and currency markets
How large banks use CDS to manage risks: bank-firm-level evidence
Do networks in the stock exchange industry pay off? European evidence
Secrecy, information shocks, and corporate investment: Evidence from European Union countries
Private information and lender discretion across time and institutions
Credit default swaps and bank loan sales: evidence from bank syndicated lending
Are expansions cost effective for stock exchanges? A global perspective
Financial crises and bank failures: a review of prediction methods
Real effects of bank capital regulations: Global evidence
Friends for the benefits: The effects of political ties on sovereign borrowing conditions
Pricing risky bank loans in the new Basel II environment
The transparency of the banking industry and the efficiency of information-based bank runs
Return-volatility linkages in the international equity and currency markets
How large banks use CDS to manage risks: bank-firm-level evidence
Do networks in the stock exchange industry pay off? European evidence
Secrecy, information shocks, and corporate investment: Evidence from European Union countries
Private information and lender discretion across time and institutions
Credit default swaps and bank loan sales: evidence from bank syndicated lending
Are expansions cost effective for stock exchanges? A global perspective
Financial crises and bank failures: a review of prediction methods
Real effects of bank capital regulations: Global evidence
Friends for the benefits: The effects of political ties on sovereign borrowing conditions
Pricing risky bank loans in the new Basel II environment