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"The Euro’s Impact on Money and Capital Markets"

Jong, Han de and Berg, Bert van den and Wijngaer, Rob van de (2000) "The Euro’s Impact on Money and Capital Markets". In: UNSPECIFIED, Maastricht, The Netherlands.

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    Abstract

    At the start of the Third Stage of EMU, it was by no means clear whether the ECB would succeed in setting up an efficient framework for distributing liquidity throughout the euro-zone. Now in retrospect, however, the ECB appears to have been quite successful. In this paper, we will look at the major impact of the ECB's operational framework on the daily business of the euro area money market. We will also examine whether the ECB has in fact succeeded in creating a uniform monetary policy resulting in similar liquidity costs in all participating countries. And we will elaborate on the development of the various segments of the money market. In addition to trade volumes, we will focus on money market integration and the extent to which EMU has affected market efficiency compared with that of the predecessor markets. Finally, we will present a number of conclusions and identify factors that continue to hamper the optimal functioning of the market.

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    Item Type: Conference or Workshop Item (UNSPECIFIED)
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > economic and financial affairs > monetary policy
    EU policies and themes > EU institutions & developments > European Central Bank
    EU policies and themes > Policies & related activities > economic and financial affairs > EMU/EMS/euro
    Subjects for EU documents: UNSPECIFIED
    EU Series: UNSPECIFIED
    ["eprint_fieldname_eusries" not defined]: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Conference: European Institute of Public Administration (EIPA) > EMU Halfway through the Transition Period. Maastricht, 18-19 September 2000
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 15 May 2003
    Page Range: p. 16
    Last Modified: 15 Feb 2011 17:15
    URI: http://aei.pitt.edu/id/eprint/569

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