Full-text resources of CEJSH and other databases are now available in the new Library of Science.
Visit https://bibliotekanauki.pl

PL EN


Journal

2019 | 3(59) | 93-114

Article title

W kierunku integracji długu publicznego strefy euro

Content

Title variants

EN
Integration of the eurozone public debt

Languages of publication

Abstracts

EN
The article presents selected concepts related to integration of government debt of Economic and Monetary Union (EMU) member states by issuing common bonds. In order to evaluate the possible implementation and value of eurozone bonds, the author applies two methods. The first one is cost and benefits analysis (CBA), the second is simulations based on historical data on government debt sourced from Eurostat. Next, the author discusses solutions already implemented and prospects for changes.

Journal

Year

Issue

Pages

93-114

Physical description

Dates

published
2019

Contributors

  • Uniwersytet Ekonomiczny w Poznaniu

References

  • Coordinated public debt issuance in the euro area, report of the Giovannini Group, EFC European Commission, Brussels, November 2000.
  • Decision of Eurostat on deficit and debt. Statistical classification of the European Stability Mechanism, European Commission, 31 January 2013.
  • Delpha J., von Weizsacker J., Eurobonds: the blue bond concept and its implications, „Bruegel Policy Contribution” 2011, No 2.
  • Fuest C., Heinemann F., Accountability Bonds – Reconciling Fiscal Policy Based on Market Discipline with Financial Stability, „EconPol Policy Brief” 2017, Vol. 1, No 3.
  • European Safe Bonds (ESBies), https://personal.lse.ac.uk/vayanos/Euronomics/ESBies.pdf.
  • Eurobonds: concepts and implications, European Parliament, PE 457.357, March 2011.
  • European Primary Dealers Association (EPDA), A Common European Government Bond, Discussion Paper, EPDA is an Affiliate of SIFMA (Securities Industry and Financial Market Association), September 2008.
  • Favero C.A., Missale A., Contagion in the EMU – The Role of Eurobonds with OMTs, „Review of Law & Economics” 2016, No 12(3).
  • Favero C.A., Missale A., EU Public Debt Management and Eurobonds, Brussels, September 2010.
  • Favero C.A., Missale A., Sovereign spreads in the euro area. Which prospects for a Eurobonds?, „Economic Policy” 2012, Vol. 27, No 70C.
  • de Grauwe P., Unia walutowa, PWE, Warszawa 2000.
  • de Grauwe P., Ji Y., Financial engineering will not stabilize an unstable euro area, CEPR Policy Portal, 19 March 2018.
  • de Grauwe P., Moesen P., Gains for all: a proposal for a common euro bond, CEPS Commentary, April 2009.
  • Gros D., Micossi S., A bond-issuing EU stability fund could rescue Europe, Europe’s World, 2009.
  • Jones E., A Eurobond Proposal to Promote Stability and Liquidity while Preventing Moral Hazard, ISPI Policy Brief, No. 180, March 2010.
  • Komunikat Komisji, Plan działania na rzecz pogłębionej i rzeczywistej unii gospodarczej i walutowej. Otwarcie debaty europejskiej, COM(2012) 777.
  • Leandro A., Zettelmeyer J., The Search for a Euro Area Safe Asset, Peterson Institute for International Economics, March 2018.
  • Marchewka-Bartkowiak K., Europejski Fundusz Walutowy – nowa propozycja instytucjonalna i jej ocena, seria „Analizy BAS” nr 2(148), 2018, http://www.bas.sejm.gov.pl/analizy.php.
  • Proposal for a Council regulation on the establishment of the European Monetary Fund, COM(2017) 827 final.
  • Proposal for a regulation of the European Parliament and of the Council on sovereign bond-backed securities, COM(2018) 339 final.
  • Smaghi L.B., Marcussen M., Strengthening the euro area architecture. A proposal for Purple bonds, SUERF Policy Note, 2018, No 35.
  • Temperton P., Euro – wspólna waluta, Felberg Sja, Warszawa 2001.
  • The creation of a common European bond market, European League for Economic Cooperation Cahier Comte, Boel, No. 14, March 2010.
  • Zielona księga w sprawie możliwości wprowadzenia obligacji stabilnościowych, COM(2011) 818.
  • Esm.europa.eu.
  • Ec.europa.eu/Eurostat.

Document Type

Publication order reference

Identifiers

Biblioteka Nauki
10542366

YADDA identifier

bwmeta1.element.ojs-doi-10_31268_StudiaBAS_2019_22
JavaScript is turned off in your web browser. Turn it on to take full advantage of this site, then refresh the page.