The Relation of Brexit with the UK’s QE Decisions and its Impact on the Eurozone

This study examines the performance of fifty global exchanged-traded funds (ETFs) traded on US stock exchanges. Specififcally, it refers to the period following the end of quantitative easing, which took place in 2014. Therefore, the data, on which the study is based, refer to the period from 24/10/2014 to 24/09/2018 and they are expressed in a weekly frequency. By employing the Capital Asset Pricing Model (CAPM), we evaluate the performance of fifty ETFs according to their rating by the MorningStar. Their performance was measured using Sharpe and Treynor ratios as well as Jensen’s alpha and the betas and a/b measures. The results of the study indicate that the examined ETFs show selectivity skills and present bearish behaviour in relation to the market during QE-tapering.

Section: Introductionmentioning

confidence: 99%

Performance Evaluation of Global High-rated ETFs During the Taper Tantrum

Marios

Daskalou

Evangelia

et al. 2020

“…This paper is an attempt to answer whether a new phase of unconventional monetary policy in the form of QE would be appropriate to lessen the threat of an upcoming crisis. Unconventional monetary policymaking in the UK and the Eurozone has been the centre of a proliferating bulk of academic studies such as in Kyriazis (2017) and Kyriazis and Economou (2017). The paper is organized as follows: Section 2 describes the main policy scenarios about the relation of the UK with the European Union after the Brexit decision.…”

Section: Introductionmentioning

confidence: 99%

Brexit and new perspectives of an unconventional way of Eurozone revival

Kyriazis

Economou

2019

In the aftermath of the UK referendum on June 23rd, 2016 that resulted in a sonorous negative decision regarding the willingness of the British people to remain in the EU, a significant number of alarming questions have emerged. Although Europe should have forged in crises, nowadays, many compromises have to be made in order to maintain the European construction as intact as possible. The question we attempt to answer is whether a new phase of unconventional monetary policy in the form of QE would be appropriate to lessen the threat of an upcoming crisis. This is why we examine Eurozone QE perspectives through the prism of the new EU era without the UK in order to highlight the pros and cons of the historical Brexit decision. As new rounds of unconventional monetary policy are believed to be essential for supporting the weaker countries in the European south, perspectives of non-conventional success could alter and optimal policies be substantially reformulated subject to the newly-arising constraints. Based on the main scenarios about the UK’s relations to the European Union in the near future, we estimate how a new round of non-conventional measures could affect the Britons as well as the European citizens. Moreover, we try to assess the viability of each of these outcomes through the spectrum of a monetary-driven decision-making.

“…However, recent events, in particular the global economic crisis and the UK`s leaving the EU (the BREXIT pointed out to new areas whose effects should be more visible in the near future (effects on monetary policy, etc.)) (Kyriazis and Economou, 2017, Dumičić, 2017, Vučinić, 2016. The purpose of the research is defined with its objectives: to present the theoretical knowledge of the process of deindustrialization, to identify the key factors of the process, to conduct the analysis of the deindustrialization movement, and to determine the perspectives of the further development of the industrial sector of Montenegro in the process of accessing the EU and in the conditions of globalization.…”

Section: Introductionmentioning

confidence: 99%

Process of Deindustrialization in Montenegro

Tomljanović

Grubišić

Huđek

2018

Deindustrialization is a dynamic process that began to attract the attention of economic theorists in the 60s of the 20th century, which is characterized by a reduction in the share of the industrial sector in GDP and employment. A descriptive analysis of the deindustrialization process in Montenegro was carried out. It was established that throughout the observed period, the process of deindustrialization in Montenegro has characteristics present in developed countries. However, a deeper analysis and taking into account the key indicators showed that deindustrialization in Montenegro did not just arise as a sole consequence of positive economic trends. In addition, the entire process took place under the influence of various non-economic indicators. Moreover, the global economic crisis had a significant economic impact on Montenegro's industrial sector. In the process of accession to the EU and in addressing global challenges, the country's industrial sector, in line with key development strategies, is heading towards reindustrialization, i.e. development and progress under changing conditions.