In the paper we analyse the question whether interest rate policies and / or nominal as well as real exchange rate changes served as a national policy instrument in the past to either protect one country from…
Since the start of EMU national fiscal policy in the Eurozone can be conducted almost without paying any attention to consequences for the exchange rate. This might lower fiscal discipline. In order to shed…
In this paper we analyze the permanent price impact of trades in financial markets by investigating the relation between unexpected net order flow and price changes. We mainly focus on four questions. Does large…
