Has the 2008 financial crisis and its aftermath changed the impact of inflation on inflation uncertainty in member states of the european monetary union?

2018 ◽  
Vol 66 (2) ◽  
pp. 246-276
Author(s):  
Nima Nonejad
Keyword(s):  
Financial Crisis ◽  
Monetary Union ◽  
European Monetary Union ◽  
European Monetary ◽  
Inflation Uncertainty ◽  
2008 Financial Crisis ◽  
Member States ◽  
The 2008 Financial Crisis ◽  
The Impact

DID THE INTRODUCTION OF THE EURO HAVE AN IMPACT ON INFLATION UNCERTAINTY?—AN EMPIRICAL ASSESSMENT

2013 ◽  
Vol 18 (6) ◽  
pp. 1313-1325 ◽  
Author(s):  
Matthias Hartmann ◽  
Helmut Herwartz
Keyword(s):  
European Union ◽  
Financial Crisis ◽  
Monetary Union ◽  
European Monetary Union ◽  
Control Groups ◽  
European Monetary ◽  
Inflation Uncertainty ◽  
Inflation Risk ◽  
Recent Financial Crisis ◽  
Risk Processes

We compare inflation uncertainty in distinguished groups of economies. Results indicate that during the recent financial crisis the global inflation climate has become markedly more uncertain than previously. We document that in comparison to other economies, member states of the European Monetary Union are less exposed to inflation uncertainty. Three European Union members that are not part of the monetary union and five other OECD member economies serve as control groups. With regard to the quantification of inflation uncertainty, results are robust over a set of alternative estimates of the latent inflation risk processes.

Trends in the European Monetary Union. An Overview

2021 ◽  
pp. 097215092110161
Author(s):  
Papageorgiou Christos ◽  
Anastasiou Athanasios ◽  
Liargovas Panagiotis
Keyword(s):  
Monetary Union ◽  
European Monetary Union ◽  
Inflation Rate ◽  
European Monetary ◽  
Member States ◽  
Eu Member States ◽  
Average Value ◽  
General Government ◽  
Government Deficit ◽  
The Mean

Four indicators corresponding to the four targets of the European Monetary Union were calculated. The study showed that: (a) concerning the deviation of state’s general government deficit/surplus from 3% of gross domestic product (GDP), all member states had reached their target, with the exception of Cyprus, which was slightly under the target, (b) concerning the deviation of state’s general government debt from 60% of GDP, half of all European Union (EU) member states did not reach their targets, and there was a lot to be done, especially from the EU15 member states, (c) concerning the deviation of state’s inflation rate from the mean of the three states with best results of +1.5%, it was observed that the average value of EU28 member states had reached the final target, mainly due to the performances of the EU15 member states, (d) and concerning the deviation of state’s interest rate from the mean of the three states with the best results of +2%, it was observed that the average value of EU28 member states had reached the final target.

RESPONSE OF STOCK MARKET DURING COVID-19 AND 2008 FINANCIAL CRISIS: A COMPARATIVE EVIDENCE FROM BRICS NATIONS

2021 ◽  
pp. 1-24
Author(s):  
SANJEEV KUMAR ◽  
JASPREET KAUR ◽  
MOSAB I. TABASH ◽  
DANG K. TRAN ◽  
RAJ S DHANKAR
Keyword(s):  
South Africa ◽  
Financial Crisis ◽  
Stock Market ◽  
Stock Returns ◽  
Stock Markets ◽  
2008 Financial Crisis ◽  
First Case ◽  
Egarch Model ◽  
The 2008 Financial Crisis ◽  
The Impact

This study attempts to examine the response of stock markets amid the COVID-19 pandemic on prominent stock markets of the BRICS nation and compare it with the 2008 financial crisis by employing the GARCH and EGARCH model. First, average and variance of stock returns are tested for differences before and after the pandemic, t-test and F-test were applied. Further, OLS regression was applied to study the impact of COVID-19 on the standard deviation of returns using daily data of total cases, total deaths, and returns of the indices from the date on which the first case was reported till June 2020. Second, GARCH and EGARCH models are employed to compare the impact of COVID-19 and the 2008 financial crisis on the stock market volatility by using the data of respective stock indices for the period 2005–2020. The results suggest that the increasing number of COVID-19 cases and reported death cases hurt stock markets of the five countries except for South Africa in the latter case. The findings of the GARCH and EGARCH model indicate that for India and Russia, the financial crisis of 2008 has caused more stock volatility whereas stock markets of China, Brazil, and South Africa have been more volatile during the COVID-19 pandemic. The study has practical implications for investors, portfolio managers, institutional investors, regulatory institutions, and policymakers as it provides an understanding of stock market behavior in response to a major global crisis and helps them in taking decisions considering the risk of these events.

Assessing the Impact of the 2008 Financial Crisis on the Labor Force, Employment, and Wages of Persons with Disabilities in Spain

2018 ◽  
Vol 29 (3) ◽  
pp. 178-188 ◽  
Author(s):  
Marco Garrido-Cumbrera ◽  
Jorge Chacón-García
Keyword(s):  
Financial Crisis ◽  
Labor Force ◽  
Educational Level ◽  
People With Disabilities ◽  
The United States ◽  
Average Wage ◽  
2008 Financial Crisis ◽  
Persons With Disabilities ◽  
The 2008 Financial Crisis ◽  
The Impact

The financial crisis of 2008 has had a greater effect on people with disabilities than on those without disabilities in Spain. In recent years, the number of persons with disabilities registered as part of the labor force and having a higher educational level has increased. However, the unemployment rate among people with disabilities has grown at a faster pace, especially for women and young people. A similar situation has occurred with respect to the annual gross average wage; the gap between those with and without disabilities has increased in the years following the crisis. The present study reveals that Spanish public policies aimed at improving levels of employment for people with disabilities have not achieved the expected results. Here, we explore the possible causes and compare the results with those obtained in the United States.

scholarly journals The impact of IFRS mandatory adoption on KPIs disclosure quality

2021 ◽  
Vol 11 (3) ◽  
pp. 55-66
Author(s):  
Nadia Cheikh Rouhou ◽  
Fatma Wyème Ben Mrad Douagi ◽  
Khaled Hussainey ◽  
Ahmad Alqatan
Keyword(s):  
Financial Crisis ◽  
Financial Reporting ◽  
Stock Exchange ◽  
Disclosure Quality ◽  
2008 Financial Crisis ◽  
Special Events ◽  
Management Commentary ◽  
Mandatory Adoption ◽  
The 2008 Financial Crisis ◽  
The Impact

The aim of this study is to investigate context, the impact of International Financial Reporting Standards (IFRS) on the Key Performance Indicators’ (KPIs) disclosure quality in the United Kingdom (UK). We used the UK listed firms FTSE 350 in the stock exchange market during the pre-IFRS period and the post-IFRS period (2003 to 2004, and 2006 to 2013). In particular, we examine special events such as the emergence of the 2006 UK Accounting Standard Body (ASB) Guidelines for KPIs best practice, the 2010 IFRS Management Commentary, and the phenomenon of the 2008 financial crisis. The results of this paper show that the UK’s mandatory adoption of IFRS has had a positive and significant effect on the KPIs’ disclosure quality. The results demonstrate, also, that together with the emergence of the 2006 UK ASB Guidelines, the 2008 financial crisis, and the 2010 IFRS Management Commentary have had a positive and significant influence on the quantity and quality of the KPIs’ disclosure.

Electoral Choice—Voter Demand and Party Supply

2018 ◽  
Author(s):  
Russell J. Dalton
Keyword(s):  
Financial Crisis ◽  
2008 Financial Crisis ◽  
Party Positions ◽  
Electoral Choice ◽  
The 2008 Financial Crisis ◽  
European Election ◽  
Voting Decisions ◽  
Election Studies ◽  
The Impact ◽  
Over Time

This chapter examines the impact of the economic and cultural cleavages on Europeans’ voting choices over time. There is a strong and persisting influence of the economic cleavage on voting choices with little change after the 2008 financial crisis. There is also a growing importance of the cultural cleavage. In recent elections, the cultural cleavage outweighs the influence on the economic cleavage. The polarization of party positions on the cultural cleavage increases the influence of this cleavage, but the same pattern is not apparent for the economic cleavage. The salience of each cleavage also affects its weight in voting decisions. European voters and parties have realigned their positions so that both cleavages are now important for electoral choice. The analyses are based on the European Election Studies in 1979, 2009, and 2014.

The Neodevelopmentalist Front and Mercosur under the PT Governments: The Rise and Fall of Multidimensional Regionalism

2021 ◽  
pp. 0094582X2110293
Author(s):  
Tatiana Berringer
Keyword(s):  
Financial Crisis ◽  
Regional Integration ◽  
Political Process ◽  
The Political ◽  
2008 Financial Crisis ◽  
The Social ◽  
Integration Mechanisms ◽  
The 2008 Financial Crisis ◽  
The Impact ◽  
The Relationship

An analysis of the relationship between classes and class fractions and Mercosur under the PT (Workers’ Party) governments suggests that the transition from the open regionalism of the 1990s to the multidimensional regionalism of the 2000s and the crisis of the latter were linked to the overlap between the regional integration mechanisms Unasur and Mercosur and the social base of the neodevelopmentalist front. Multidimensional regionalism went into crisis after 2012, when the country began to suffer the impact of the 2008 financial crisis and changes in international politics and when the political process that culminated in the 2016 coup began. Uma análise da relação entre as classes e frações de classe e o Mercosul dos governos PT sugere que a transição do regionalismo aberto dos anos 1990 para o regionalismo multidimensional dos anos 2000 e a crise deste últimoestão ligados à imbricação entre os processos de integração regional, Unasur e Mercosur, e a base social da frente neodesenvolvimentista. O regionalismo multidimensional entrou em crise a partir de 2012 quando o país começou a sofrer mais o impacto da crise financeira de 2008 e das transformações na política internacional e iniciou-se o processo político que culminou no golpe de 2016.

Institutionelle Alternativen in der Europäischen Union: Das Beispiel des Stabilitäts- und Wachstumspaktes

2006 ◽  
Vol 55 (2) ◽  
Author(s):  
Renate Ohr ◽  
André Schmidt
Keyword(s):  
Monetary Union ◽  
European Monetary Union ◽  
Allocative Efficiency ◽  
Stability And Growth Pact ◽  
European Monetary ◽  
Fiscal Deficits ◽  
Member States ◽  
Growth Pact ◽  
The Stability

AbstractThe Stability and Growth Pact is one of the constituent pillars of the European Monetary Union. Though, meanwhile it is obvious that it will not be able to limit fiscal deficits of the member states. For this reason in this paper Coase′s thinking in institutional alternatives is applied to find a better way to increase the incentives for more fiscal stability. We present and discuss tradable deficit permits comprising market-orientated incentives for fiscal stability. It is shown that tradable deficit permits are superior from a politico-economical view as well as with regard to allocative efficiency.

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