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Europäisches Institut für Internationale Wirtschaftsbeziehungen
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Aktuelles
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New Discussion Paper (Advance Version March 30th) Macroeconomic and Health Care Aspects of the Coronavirus Epidemic: EU, US and Global Perspectives
Summary: The novel coronavirus (COVID-19) epidemic represents a major challenge for the world... [mehr] -
Makroökonomische und gesundheitspolitische Aspekte der Coronavirus-Epidemie: EU, USA und globale Perspektiven
Zusammenfassung: Die neuartige CoronaviRus (COVID-19)-Epidemie stellt eine große Herausforderung... [mehr] -
Macroeconomic and Health Care Aspects of the Coronavirus Epidemic: EU, US and Global Perspectives
Summary: The novel coronavirus (COVID-19) epidemic represents a major challenge for the world... [mehr] -
Prof. Paul JJ Welfens in UC Berkeley (Feb, 2020) | The Global Trump
Prof. Paul JJ Welfens presented his book The Global Trump: Structural US Populism and Economic... [mehr] -
EIIW Policy Brief
Verhandlungspositionen UK und EU nach dem BREXIT-Tag 31. Januar 2020: Britische... [mehr]
Arthur Korus/Kaan Celebi: The Impact of Brexit on the British Pound/Euro Exchange rate
Arthur Korus/Kaan Celebi: The Impact of Brexit on the British Pound/Euro Exchange rate
Summary
Using event-study techniques we investigate the impact of Brexit-related events on the spot exchange rate of the British pound against the euro. We want to find out whether Brexit-related news, including the Brexit referendum itself, has an impact on the Pound sterling/Euro exchange rate. By splitting our Brexit-related events into ‘good’ Brexit news and ‘bad’ Brexit news, we find an impact of Brexit news on the British pound/Euro exchange rate. Bad Brexit news is associated with a depreciation of the British pound against the euro whereas ‘good’ Brexit news appreciates the Pound sterling against the euro. Furthermore, our empirical results suggest that market participants display a delayed reaction to bad and good Brexit news, respectively. Additionally, it seems that the impact of bad Brexit news on the spot exchange rate of the British pound against the euro is more persistent than the effect of good Brexit news.