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Author: Daniel Gros
Publisher: CEPS
ISBN: 9290795697
Category : European Union countries
Languages : en
Pages : 81
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Book Description
"This is the seventh annual report issued by the CEPS Macroeconomic Policy Group since it was reconstituted at the start of economic and monetary union in 1999. This distinguished group of economists argues that a combination of slow growth, inadequate policy responses and newly emerging intra-area divergences are putting EMU at risk. Against this background, the MPG recommends that the ECB should downgrade its short-term concern about cyclical economic developments and pursue a monetary policy aimed at preserving the value of the euro in the long-term. Moreover, it urges the core countries to urgently return to fiscal discipline, both in their own interest and to set an example that would allow them to exert pressure on potential soft currency countries to do the same."--CEPS website.
Author: Daniel Gros
Publisher: CEPS
ISBN: 9290795697
Category : European Union countries
Languages : en
Pages : 81
Get Book Here
Book Description
"This is the seventh annual report issued by the CEPS Macroeconomic Policy Group since it was reconstituted at the start of economic and monetary union in 1999. This distinguished group of economists argues that a combination of slow growth, inadequate policy responses and newly emerging intra-area divergences are putting EMU at risk. Against this background, the MPG recommends that the ECB should downgrade its short-term concern about cyclical economic developments and pursue a monetary policy aimed at preserving the value of the euro in the long-term. Moreover, it urges the core countries to urgently return to fiscal discipline, both in their own interest and to set an example that would allow them to exert pressure on potential soft currency countries to do the same."--CEPS website.
Author: Franco Praussello
Publisher:
ISBN:
Category :
Languages : en
Pages : 57
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Book Description
Author: Jacques Mélitz
Publisher:
ISBN:
Category :
Languages : en
Pages : 39
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Book Description
Author: Richard Irving
Publisher:
ISBN:
Category :
Languages : en
Pages : 32
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Book Description
Author:
Publisher:
ISBN:
Category : Risk management
Languages : en
Pages : 616
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Book Description
Author: Umberto Cherubini
Publisher:
ISBN:
Category :
Languages : en
Pages : 40
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Book Description
Author: Wayne E. Ferson
Publisher:
ISBN:
Category :
Languages : en
Pages : 38
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Book Description
Author: Jennifer Barker
Publisher:
ISBN:
Category : Dormitories
Languages : en
Pages : 21
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Book Description
Author: Giorgio De Santis
Publisher:
ISBN:
Category :
Languages : en
Pages : 50
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Book Description
Author: Wayne E. Ferson
Publisher:
ISBN:
Category : Assets (Accounting)
Languages : en
Pages : 60
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Book Description
We explore the different factors that drive expected returns in world markets. Our research offers two innovations. First, the introduction of the Euro currency unit greatly reduces the complexity of including foreign exchange risk in asset pricing models. We use a synthetic Euro excess return along with a Yen excess return to assess country equity sensitivities to currency risk factors. Second, when combining the currency factors with a group of economic factors, we measure the incremental information in the factor proposed in Fama and French (1998). We find that a global price-to-book factor offers little additional explanatory power over and above a model that includes economic risk factors.
