Questions. 1. What factors were behind the convergence of euro zone long rates that occurred from the late 1990s up until the beginning of the gfc?

Slides:



Advertisements
Similar presentations
International Economic Policy. International Fluctuations International business cycles –international financial interdependence –international trade.
Advertisements

The Euro in Crisis Uri Dadush Carnegie Endowment for International Peace Chicago, June 14, 2010.
A2 Economics PowerPoint Briefings 2009 Euro Area in Charts tutor2u ™ tutor2u ™
The European Sovereign Debt Crisis
Asymmetric monetary policy in the Euro Area A new role for the ECB.
The Israeli Economy: Maintaining a Thriving Economy in the Shadow of Terror Prof. Zvi Eckstein Deputy Governor, Bank of Israel The Jerusalem Center for.
THE EURO TODAY: IS THERE A TOMORROW? Benjamin J. Cohen University of California, Santa Barbara Remarks prepared for presentation at Cirano, Montreal, 17.
Financial Wealth Creation Via Currency Unification John C. Edmunds John E. Marthinsen Bretton Woods, July 9, 2004.
Chapter 11: The Euro and Financial Markets
J.P.Morgan Chase S T R I C T L Y P R I V A T E A N D C O N F I D E N T I A L Challenges to the Euro System Astana Economic Forum Astana, Kazakhstan May.
Demand for an Asset Wealth Expected return…relative to alternative assets Risk—uncertainty of return—relative to alternative assets Liquidity—ease and.
Global Economic Outlook 2012 GRI Europe Summit 2011 Paris, 8 September 2011 Dr. Jürgen Pfister, Chief Economist and Head of Research.
The Behaviour of Interest Rates
Pension systems during the financial and economic crisis Edward Whitehouse Social Policy division, OECD.
Fixed FX Regimes FNCE 4070 – Financial Markets and Institutions.
Disinflation, Crisis, and Global Imbalances, Firas Mustafa.
The Behavior of Interest Rates
The Determinants of Cross-border Bank Flows to Emerging Markets: New Empirical Evidence on the Spread of Financial Crises by Herrmann and Mihaljek Discussion.
11 Too Many Crises: Is there a Way Out for the UK Economy and the Euro? David T Llewellyn Loughborough University Vienna University of Economics and Business.
By Jörg Bibow Levy Economics Institute of Bard College May 2012 The Euro Debt Crisis and Germany’s Euro Trilemma by Jörg Bibow Levy Economics Institute.
ทฤษฎีและนโยบาย การเงิน Monetary Theory and Policy Money Supply Process Reference: Money, the Financial System, and the Economy ( R. Glenn Hubbard )
The Greek debt crisis Part of an ongoing Euro zone crisis Caused by the Global Economic Recession (Great Recession) in October 2008.
Overview What we have seen : achievements Crisis less bad than feared What we can expect : challenges Fragile, slow and varied recovery What should be.
© RAINER MAURER, Pforzheim Prof. Dr. Rainer Maure Prof. Dr. Rainer Maurer Digression: The Eurozone Debt Crisis 2010.
J.P.Morgan Chase IV ASTANA Economic Forum Astana, Kazakhstan May 3-4, 2011 S T R I C T L Y P R I V A T E A N D C O N F I D E N T I A L The Global Economy:
The first years (until the Great Crisis) Average annual GDP growth rate (%), 1999–2008:
The Lessons from the Housing Market Crisis Professor Elias Karakitsos
ECRI Conference Lending to Households after the crisis How should the lessons from the past be reflected in regulation 16 th May 2013 Brussels.
1 U.S. and European Debt Crises Lim Mah-Hui October 19, 2011 PwC Seminar Penang.
Overview of Remarks  Global backdrop  The current debate on the International Monetary System  Conditions for becoming an international financial center.
PUBPOL 542: Indonesia Presentation Indonesia : Walking the Fiscal and Monetary Policy Tightrope Jonathan Haney, David Kase, Vishaal Rana Public.
Copyright © 2010 Pearson Addison-Wesley. All rights reserved. Chapter 5 The Behavior of Interest Rates.
The world financial instability and the Euro zone crisis - Chapter 2 Jacques SAPIR CEMI-EHESS.
Central Banking in the Light of the Crisis. Outline.
J.P.Morgan Chase S T R I C T L Y P R I V A T E A N D C O N F I D E N T I A L Major Trends in the Global Economy Prof. Jacob A. Frenkel Chairman, JPMorgan.
12 CHAPTER Financial Markets © Pearson Education 2012 After studying this chapter you will be able to:  Describe the flow of funds through financial.
AIECE GENERAL REPORT AUTUMN GENERAL MEETING Brussels, 7-8 November 2013.
divergent 2.absolutely convergent 3.conditionally convergent.
Country Risk Analysis – Sovereign Risk Analysis Techniques Antony Mueller The Continental Economics Institute www. continentaleconomics.com.
 Used by 17 of 27 countries  Used for all payments starting in 2002  Should be used by all countries once they join THE EURO.
AEGON Asset Management Olaf van den Heuvel Head of Tactical Asset Allocation CFA Forecasting dinner.
The Good, The Bad, and The Ugly The Global Financial Crisis The Good, The Bad, and The Ugly The Global Financial Crisis.
November, CONTENTS  Macroeconomic projections for the period Key exogenous assumptions for the projections Baseline macroeconomic scenario.
European Union Norbert Lajos. Main question Why isn’t EU working as well as USA? Crisis Culture difference History Geography Number of States People Prosperity.
The shift and the shocks: prospects for the world economy Martin Wolf, Associate Editor & Chief Economics Commentator, Financial Times Oxonia 15 th February.
“ Entrepreneurship in the era of globalization ” by Vasilis Foivos Axiotis Chairman of the Board of Directors AXION ENERGY S.A. 10 th November, 2015 Georgetown.
© The McGraw-Hill Companies, 2008 Chapter 29 Open economy macroeconomics David Begg, Stanley Fischer and Rudiger Dornbusch, Economics, 9th Edition, McGraw-Hill,
Convergence of Government Bond Yields in the Euro Zone: The Role of Policy Harmonization Denise Côté and Christopher Graham International Department 28.
Section 5. What You Will Learn in this Module Illustrate the relationship between the demand for money and the interest rate with a graph Explain why.
The Global Economy: Finance By: Reba Cox. Balance of Payments The summary of all economic transactions between people of one country and all other countries.
“Debt and Credit, Growth and Crises” Bank of Spain and the World Bank Madrid, Spain 19 June,
Global economic forecast May 13th GDP growth softened to 1.8% in the first quarter as consumer spending and confidence was hit by oil gasoline prices.
Global economic forecast December 14th The recovery is softening, with the weakness of private-sector jobs creation giving particular cause for.
Disinflation, Growth, Crisis and Recession, By Katja Fricker Paul Volcker Ronald Reagan.
International Finance 09’ 092SIS83 Hee Hyun Kim 5. November. 09 The Mexican Peso Crisis.
Global economic forecast August 12th Revised US GDP data showed that the economy grew much more slowly than thought in the first half of 2011, in.
1 Lectures 8 and 9 The Behavior of Interest Rates.
Evidence on EU monetary system. Criterion 5: homogeneous preferences Currency union member countries must share a wide consensus on the way to deal.
The European Economic Crisis: Origins and Prospect for the Future
Joaquin A. Cottani 13 November 2014 – Sao Paulo
Chapter 1 Globalization & the Multinational Firm
The Lessons from the Housing Market Crisis
Output, the Interest Rate, and the Exchange Rate
GREECE DEBT CRISIS.
Test the series for convergence or divergence. {image}
Test the series for convergence or divergence. {image}
Chapter 1 Globalization & the Multinational Firm
European Debt Crisis Arturo Peguero Pei-ling Liu Nilar Thein.
Output, the Interest Rate, and the Exchange Rate
Chapter 1 Globalization & the Multinational Firm
Presentation transcript:

Questions

1. What factors were behind the convergence of euro zone long rates that occurred from the late 1990s up until the beginning of the gfc?

2. What factors were behind the divergence of euro zone long rates that began during the global financial crisis and persist today?

3. Do you think the level of German long- term rates will increase or decrease over the next year? Why?

4. Do you think spreads in long-term rates between Greece and Germany will widen or tighten over the next year? Why?

Expected future output Wealth Government budget deficit Monetary Policy, Inflation Safe Haven, Risk on /Risk Off Expected returns in other assets Factors

Feedback: Privacy Policy Feedback
Do Not Sell My Personal Information
About project: SlidePlayer Terms of Service

© 2025 SlidePlayer.com. Inc. All rights reserved.