Evaluating The Ems And Emu Using Stochastic Simulations
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Evaluating The Ems And Emu Using Stochastic Simulations
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Author : Mr.Paul R. Masson
language : en
Publisher: International Monetary Fund
Release Date : 1993-03-01
Evaluating The Ems And Emu Using Stochastic Simulations written by Mr.Paul R. Masson and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993-03-01 with Business & Economics categories.
Evaluations of European monetary integration using model simulations have given conflicting results, and the paper attempts to elucidate the reasons for the differences. Several features stand out: how to model realignments; how monetary policy is set for individual countries or for Europe; and how large are risk premium shocks in exchange markets. We quantify the effects of different assumptions relating to these features using MULTIMOD.
Evaluating The Ems And Emu Using Stochastic Simulations
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Author : Paul R. Masson
language : en
Publisher:
Release Date : 2006
Evaluating The Ems And Emu Using Stochastic Simulations written by Paul R. Masson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
Evaluations of European monetary integration using model simulations have given conflicting results, and the paper attempts to elucidate the reasons for the differences. Several features stand out: how to model realignments; how monetary policy is set for individual countries or for Europe; and how large are risk premium shocks in exchange markets. We quantify the effects of different assumptions relating to these features using MULTIMOD.
The Impact Of The Euro
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Author : Mark Baimbridge
language : en
Publisher: Springer
Release Date : 1999-10-12
The Impact Of The Euro written by Mark Baimbridge and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-10-12 with Business & Economics categories.
Economic and Monetary Union (EMU) will have far-reaching consequences for participating nations. This book contains a unique and editorially neutral collection of key arguments favouring and opposing membership. The economic and policy implications are evaluated by distinguished economists, whilst the impact upon national sovereignty and the world of work is debated by prominent MPs and representatives of business and trade union organisations. The text provides an unbiased, comprehensive and 'readable' resource for specialist students and a general readership.
Relative Prices And Economic Adjustment In The U S And The Eu
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Author : Mr.Tamim Bayoumi
language : en
Publisher: International Monetary Fund
Release Date : 1994-06-01
Relative Prices And Economic Adjustment In The U S And The Eu written by Mr.Tamim Bayoumi and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994-06-01 with Business & Economics categories.
Structural vector autoregressions are used to analyze the relationship between real output and relative prices within the EU and the United States, Relative price variability appears to be more important for adjustment within the EU than the United States, reflecting the lower integration of goods and factor markets. In the absence of higher market integration, the lower relative price variability implied by the introduction of a single currency in the EU could well cause significant economic disruption.
Estimating How The Macroeconomy Works
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Author : Ray C. FAIR
language : en
Publisher: Harvard University Press
Release Date : 2009-06-30
Estimating How The Macroeconomy Works written by Ray C. FAIR and has been published by Harvard University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-06-30 with Business & Economics categories.
Macroeconomics tries to describe and explain the economywide movement of prices, output, and unemployment. The field has been sharply divided among various schools, including Keynesian, monetarist, new classical, and others. It has also been split between theorists and empiricists. Ray Fair is a resolute empiricist, developing and refining methods for testing theories and models. The field cannot advance without the discipline of testing how well the models approximate the data. Using a multicountry econometric model, he examines several important questions, including what causes inflation, how monetary authorities behave and what are their stabilization limits, how large is the wealth effect on aggregate consumption, whether European monetary policy has been too restrictive, and how large are the stabilization costs to Europe of adopting the euro. He finds, among other things, little evidence for the rational expectations hypothesis and for the so-called non-accelerating inflation rate of unemployment (NAIRU) hypothesis. He also shows that the U.S. economy in the last half of the 1990s was not a new age economy.
Monetary Union And Fiscal Stability
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Author : Frank Bohn
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Monetary Union And Fiscal Stability written by Frank Bohn and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
This book addresses the macroeconomic implications of a country's transition to a monetary union. By using a dynamic multi-country simulation model, it is possible to pinpoint a monetary union, and repercussions produced by fiscal retrenchment policies. Interest and exchange rate effects could only be captured once a new approach including innovations in the solution methodology had been developed. Not only can we draw lessons for newly joining members to the EMU or to any other monetary union, but the analysis also implicitly offers a new explanation for the weak Euro in the first half of 1999.
European Monetary Integration
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Author : Emmanuel Apel
language : en
Publisher: Routledge
Release Date : 2013-06-17
European Monetary Integration written by Emmanuel Apel and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-06-17 with Business & Economics categories.
This book is an accessible introduction to European monetary integration which provides a historical background to current debates, as well as an analysis of future developments. Further features of this book include: * a chronology of economic and monetary unification from 1958-1999 * clear non-technical presentation of the economic issues regarding the costs and benefits of creating a monetary union * detailed presentation of the economic and legal framework for the changeover to a single European economy * evaluation of the Maastricht Treaty's plan for monetary union * an overview of the debate between the federalist approach and the inter-governmental co-operation approach towards economic and political integration of Europe * a set of questions and exercises illuminating the more technical parts of the book European Monetary Integration 1958-2002 is an excellent resource for all those who want to discover the facts about European monetary integration which lie behind the heated political rhetoric.
Imf Staff Papers
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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 1995-01-01
Imf Staff Papers written by International Monetary Fund. Research Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-01-01 with Business & Economics categories.
This paper provides a critical survey of the literature on politico-institutional determinants of the government budget. We organize our discussion around two questions: Why did certain OECD countries, but not others, accumulate large public debts? Why did these fiscal imbalances appear in the last twenty years rather than sooner? We begin by discussing the “tax smoothing” model and conclude that this approach alone cannot provide complete answers to these questions. We then proceed to a discussion of political economy models, which we organize into six groups: (1) models based upon opportunistic policy makers and naive voters with “fiscal illusion”; (2) models of intergenerational redistributions; (3) models of debt as a strategic variable, linking the current government with the next one; (4) models of coalition governments; (5) models of geographically dispersed interests; and (6) models emphasizing the effects of budgetary institutions. We conclude by briefly discussing policy implications.
Empirical Models And Policy Making
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Author : Mary Morgan
language : en
Publisher: Routledge
Release Date : 2003-09-02
Empirical Models And Policy Making written by Mary Morgan and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-09-02 with Business & Economics categories.
This collection, written by highly-placed practitioners and academic economists, provides a picture of how economic modellers and policy makers interact. The book provides international case studies of particular interactions between models and policy making, and argues that the flow of information is two-way.
The Economics Of The New Europe
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Author : Nigel Healey
language : en
Publisher: Routledge
Release Date : 1995-05-04
The Economics Of The New Europe written by Nigel Healey and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-05-04 with Business & Economics categories.
Europe is in a period of rapid transition. The Single European Market has been completed, and many barriers to the free mvoement of goods, services, labour and capital have been removed. However the moves towards deeper European union, with full monetary union by 1999, have proved more problematic. Outside the EU, the collapse of communism has adde