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The Markets versus the ECB, and the EURO's Plunge

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  • Jorg Bibow

    ()
    (University of Hamburg
    Levy Economics Institute)

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    Abstract

    This paper argues that important independent causes of European weakness, in addition to U.S. strength, were involved in producing the stark growth differential between the euro area and U.S. economies widely held to have caused euro weakness. The paper scrutinizes the role of European monetary policy in facilitating the euro's plunge. It is argued that while the Bundesbank's policies preconditioned the euro's plunge, the ECB's policies acted as twofold propagation mechanisms.

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    File URL: http://college.holycross.edu/RePEc/eej/Archive/Volume28/V28N1P45_57.pdf
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    Bibliographic Info

    Article provided by Eastern Economic Association in its journal Eastern Economic Journal.

    Volume (Year): 28 (2002)
    Issue (Month): 1 (Winter)
    Pages: 45-57

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    Handle: RePEc:eej:eeconj:v:28:y:2002:i:1:p:45-57

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    Postal: c/o Dr. Alexandre Olbrecht, The Anisfield School of Business 205, Ramapo College, 505 Ramapo Valley Road, Ramapo, New Jersey 07430, USA
    Phone: (201) 684-7346
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    Web page: http://www.ramapo.edu/eea/journal.html
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    Related research

    Keywords: Bundesbank; Monetary Policy; Monetary; Policy;

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    Citations

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    Cited by:
    1. Joerg Bibow, 2006. "Inflation Persistence and Tax-Push Inflation in Germany and in the Euro Area: A Symptom of Macroeconomic Mismanagement?," IMK Studies 01-2006, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    2. Hein, Eckhard, 2003. "Die NAIRU: Eine post-keynesianische Interpretation," WSI Discussion Papers 113, Wirtschafts- und Sozialwissenschaftliches Institut (WSI), Hans-Böckler-Stiftung.
    3. Jorg Bibow, 2004. "Assessing the ECB's Performance since the Global Slowdown A Structural Policy Bias Coming Home to Roost?," Macroeconomics 0407026, EconWPA.
    4. Jorg Bibow, 2005. "Bad for Euroland, Worse for Germany: The ECB's Record," Economics Working Paper Archive wp_429, Levy Economics Institute.
    5. Joreg Bibow, 2005. "Refocusing the ECB on Output Stabilization and Growth through Inflation Targeting?," Macroeconomics 0507017, EconWPA.
    6. Jorg Bibow, 2005. "Bad for Euroland, Worse for Germany-The ECB's Record," Macroeconomics 0511018, EconWPA.
    7. Jorg Bibow, 2005. "Liquidity Preference Theory Revisited: To Ditch or to Build on It?," Economics Working Paper Archive wp_427, Levy Economics Institute.
    8. Joerg Bibow, 2004. "Fiscal Consolidation Contrasting Strategies & Lessons from International Experience," Macroeconomics 0402014, EconWPA.
    9. Jorg Bibow, 2005. "Refocusing the ECB on Output Stabilization and Growth through Inflation Targeting?," Economics Working Paper Archive wp_425, Levy Economics Institute.
    10. Joerg Bibow, 2005. "Liquidity Preference Theory Revisited—To Ditch or to Build on It?," Method and Hist of Econ Thought 0508003, EconWPA.

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