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Hans Werner Sinn and Timo Wollmershaeuser’s target loans, current account balances and capital flows: the ECB’s rescue facility. A comment

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  • Schilirò, Daniele

Abstract

The present paper firstly examines and comments the arguments proposed by Werner Sinn and Wollmershaeuser in their paper on Target loans, current account balances and capital flows: the ECB’s rescue facility. Secondly, this contribution suggests an alternative view for solving the crisis in the eurozone adopting a coopetitive strategy and also regarding the role of the European Central Bank.

Suggested Citation

  • Schilirò, Daniele, 2012. "Hans Werner Sinn and Timo Wollmershaeuser’s target loans, current account balances and capital flows: the ECB’s rescue facility. A comment," MPRA Paper 48075, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:48075
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    File URL: https://mpra.ub.uni-muenchen.de/48087/10/MPRA_paper_48087.pdf
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    References listed on IDEAS

    as
    1. Carfì, David & Schilirò, Daniele, 2011. "A framework of coopetitive games: applications to the Greek crisis," MPRA Paper 78089, University Library of Munich, Germany.
    2. Jean Pisani-Ferry & Guntram B. Wolff, 2012. "Propping up Europe?," Policy Contributions 721, Bruegel.
    3. Hans-Werner Sinn & Timo Wollmershäuser, 2012. "Target loans, current account balances and capital flows: the ECB’s rescue facility," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 19(4), pages 468-508, August.
    4. Schilirò, Daniele, 2011. "A new governance for the EMU and the economic policy framework," MPRA Paper 32235, University Library of Munich, Germany, revised Jul 2011.
    5. Martin S. Feldstein, 2011. "The Euro and European Economic Conditions," NBER Working Papers 17617, National Bureau of Economic Research, Inc.
    6. von Hagen, Jurgen & Eichengreen, Barry, 1996. "Federalism, Fiscal Restraints, and European Monetary Union," American Economic Review, American Economic Association, vol. 86(2), pages 134-138, May.
    7. Spaventa, Luigi & Giavazzi, Francesco, 2010. "Why the current account may matter in a monetary union: Lessons from the financial crisis in the Euro area," CEPR Discussion Papers 8008, C.E.P.R. Discussion Papers.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Schilirò, Daniele, 2017. "Imbalances and policies in the Eurozone," MPRA Paper 82847, University Library of Munich, Germany.
    2. Schilirò, Daniele, 2016. "Rules, Imbalances and Growth in the Eurozone," MPRA Paper 75641, University Library of Munich, Germany.

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    More about this item

    Keywords

    Target loans; current account balances; capital flow; EBC’ rescue facilities; ECB’s role; coopetition in the eurozone;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • F50 - International Economics - - International Relations, National Security, and International Political Economy - - - General
    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions

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