Macroeconometric Models And European Monetary Union
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Macroeconometric Models And European Monetary Union
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Author : Ullrich Heilemann
language : en
Publisher: Duncker & Humblot
Release Date : 2004-02-02
Macroeconometric Models And European Monetary Union written by Ullrich Heilemann and has been published by Duncker & Humblot this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-02-02 with Business & Economics categories.
This volume contains the contributions of a conference dealing with the consequences of the European Monetary Union for the macroeconometric modelling of the Euro area, which took place in Essen in 2000. At the end of the conference the participants were convinced that the discussions including a great variety of theoretical, methodical and factual aspects from the producers' as well as the consumers' perspective will not fail to have a certain impact on the future development of macroeconometric modelling in the Euro area. Once more it became clear, however, that an ideal way to a solution of the problems is still not in sight. The future development will be characterized by a plurality of approaches and models. Thus trends continue which have had a more or less strong, durable or temporary influence on the model landscape since the emergence of the monetarist revolution, the rational expectations" or the "real business cycle"-models. We are still at the beginning of the theoretical and empirical exploration of the macroeconomic development of the Euro area, it is not always clearly perceptible what is transitory and what is permanent, and this openness should facilitate the reception of the experiences and results which have been presented. The idea for this event was developed in the course of the Project LINK. One of the highlights of the conference was the participation of the nobel prize winner Professor Dr. Lawrence Klein - pioneer and Nestor of macroeconometric modelling - who, as his contribution shows, is following up the creation of the European Monetary Union with critical interest."
Macroeconomic Policy In The European Monetary Union
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Author : Francesco Farina
language : en
Publisher: Routledge
Release Date : 2007-11-08
Macroeconomic Policy In The European Monetary Union written by Francesco Farina and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-11-08 with Business & Economics categories.
Providing readers with a multi-faceted assessment of the implementation of fiscal policies in the euro zone and their macroeconomic effects five years after the inception of the euro, this book, international in perspective and scope, is the first reliable reference source for discussions in this area for both academics and policy makers. Comprising contributions from distinguished researchers from different European countries and institutions the issues addressed include the: monetary and fiscal policy-mix evolution and control of fiscal aggregates over the business cycle and their implications for the SGP rules accountability of debt evolution financial spill-over of national fiscal policies measurement and assessment of automatic stabilizers. Based on empirical evidence as well as being firmly rooted in theoretical analyses and giving particular emphasis to the constraint of the Stability and Growth Pact on the one hand and the presence of a single monetary policy on the other, this book is an invaluable tool students and researchers engaged with macroeconomic stabilization and monetary and fiscal policy interactions, as well as professionals in the public sector and the financial institutions of the EU.
The Eu Law Of Economic And Monetary Union
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Author : Fabian Amtenbrink
language : en
Publisher:
Release Date : 2020
The Eu Law Of Economic And Monetary Union written by Fabian Amtenbrink and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with Business & Economics categories.
An authoritative reference work on the legal framework of European economic and monetary union, this book comprehensively analyses the legal foundations, institutions, and substantive legal issues in EU monetary integration.
Macroeconomic Modelling And Monetary And Exchange Rate Regimes
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Author : Paul R Masson
language : en
Publisher: World Scientific
Release Date : 2019-07-23
Macroeconomic Modelling And Monetary And Exchange Rate Regimes written by Paul R Masson and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-07-23 with Business & Economics categories.
This book presents articles that focus on the inter-related issues of choice of exchange rate and monetary policy regimes, and others that use a global macroeconomic model developed by the author and collaborators to quantify the effects of the 'baby boom' on global imbalances, costs of disinflation, and the effects of German unification. The book presents new analysis of the euro-zone experience and its applicability to other monetary unions, as well as a discussion of the prerequisites for successful inflation targeting. It is grounded in real-world data, readily accessible to non-specialists, and addresses important economic policy issues.
Econometric Models Of The Euro Area Central Banks
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Author : Gabriel Fagan
language : en
Publisher: Edward Elgar Publishing
Release Date : 2006-01-01
Econometric Models Of The Euro Area Central Banks written by Gabriel Fagan and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-01-01 with Business & Economics categories.
This book provides a description of the main macroeconomic models used by the European Central Bank and the euro area national central banks (Eurosystem). These models are used to help prepare economic projections and scenario analysis for individual countries and the euro area as a whole. The volume takes stock of the current macroeconometric modelling infrastructure available within the Eurosystem, highlighting not only the structures and main features of the models used but also their purposes and underlying model-building philosophies. A bird s eye view of the key details of the design, structure and characteristics of the models is provided, along with information on the responses of these models to a series of standard economic and policy shocks. This is the first time that a comprehensive description and systematic comparison of the main macroeconomic models has been published. This book will be of great interest to Central Bank and government economists, as well as academics, economists and students with an interest in central banking, econometric modelling, forecasting and macroeconomic policy.
International Economic Policy Coordination
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Author : Michael Carlberg
language : en
Publisher: Springer Science & Business Media
Release Date : 2005-08-15
International Economic Policy Coordination written by Michael Carlberg 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 2005-08-15 with Business & Economics categories.
This book studies the international coordination of monetary and fiscal policies in the world economy. It carefully discusses the process of policy competition and the structure of policy cooperation. As to policy competition, the focus is on monetary and fiscal competition between Europe and America. Similarly, as to policy cooperation, the focus is on monetary and fiscal cooperation between Europe and America. The spillover effects of monetary policy are negative while the spillover effects of fiscal policy are positive. The policy targets are price stability and full employment. The policy makers follow either cold-turkey or gradualist strategies. Policy expectations are adaptive or rational. The world economy consists of two, three or more regions. The present book is part of a larger research project on European Monetary Union, see the references at the back of the book. Some parts of this project were presented at the World Congress of the International Economic Association in Lisbon. Other parts were presented at the International Institute of Public Finance, at the Macro Study Group of the German Economic Association, at the Annual Meeting of the Austrian Economic Association, at the Gottingen Workshop on International Economics, at the Halle Workshop on Monetary Economics, at the Research Seminar on Macroeconomics in Freiburg, and at the Passau Workshop on International Economics.
Global Imbalances And Financial Capitalism
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Author : Jacques Mazier
language : en
Publisher: Routledge
Release Date : 2020-05-07
Global Imbalances And Financial Capitalism written by Jacques Mazier and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-05-07 with Business & Economics categories.
The past few decades have witnessed the emergence of economic imbalances at the world level and within the euro zone. The failure of mainstream economics to accurately predict financial crises, or model the effects of finance-led growth, highlights the need for alternative frameworks. A key text, Global Imbalances and Financial Capitalism: Stock-Flow-Consistent Modelling demonstrates that Stock-Flow-Consistent models are well adapted to study this growth regime due to their ability to analyse the real and financial sides of the economy in an integrated way. This approach is combined with an analysis of exchange rate misalignments using the Fundamental Equilibrium Exchange Rate (FEER) methodology, which serves to give a synthetic view of international imbalances. Together, these models describe how global and regional imbalances are created, as well as suggest appropriate tools through which they may be reduced. The book also considers alternative economic policies in the euro zone (international risk sharing, fiscal federalism, eurobonds, European investments, a multispeed euro zone) alongside alternative monetary policies. In particular, it examines the possibilities of using SDR (Special Drawing Rights) as a reserve asset to be issued to fight a global recession, to support the development of low-income countries, or as an anchor to improve global monetary stability. This text will be of interest to students, scholars, and researchers of economic theory and international monetary economics. It will also appeal to professional organisations who supervise international relations.
Challenges For Economic Policy Coordination Within European Monetary Union
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Author : Andrew J. Hughes Hallett
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-06-29
Challenges For Economic Policy Coordination Within European Monetary Union written by Andrew J. Hughes Hallett 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 2013-06-29 with Political Science categories.
The launch of European Monetary Union (EMU) marked the beginning of a new era, and its establishment has proved an impressive success at the technical, legal, and procedural level. After all, EMU has accelerated economic and political integration in the European Union and tied the economies of the Member States closer together. However, the performance of the euro, high unemployment rates, uneven output and investment growth, and the issue of structural reforms that have yet to be tackled have raised questions about the performance of EMU in practice. There is a general consensus on the justification for economic policy coordination. The existing literature on economic policy coordination, however, seems far from able to provide robust conclusions about how to organize the necessary interaction of institutions and policies. Therefore, there seems to be a case for re-examining the subject under the new framework set by EMU. The objective of such a reassessment is to enhance the understanding of what type of coordination and what institutional setting for policy coordination can be expected to be most favorable. Challenges for Economic Policy Coordination within European Monetary Union provides an intellectually stimulating contribution to the ongoing debate.
Macroeconomics Of Monetary Union
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Author : Michael Carlberg
language : en
Publisher: Springer Science & Business Media
Release Date : 2007-07-24
Macroeconomics Of Monetary Union written by Michael Carlberg 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 2007-07-24 with Business & Economics categories.
This book, unlike other books, provides readers with a practical yet sophisticated grasp of the macroeconomic principles necessary to understand a monetary union. By definition, a monetary union is a group of countries that share a common currency. The most important case in point is the euro area. Policy makers are the central bank, national governments, and national labour unions. Policy targets are price stability and full employment. Policy makers follow cold-turkey or gradualist strategies. Policy decisions are taken sequentially or simultaneously. The countries can differ in size or behaviour. Policy expectations are adaptive or rational. To illustrate all of this there are numerical simulations of monetary policy, fiscal policy, and wage policy. The present book is part of a larger research project on European Monetary Union, see the references given at the back of the book. Some parts of this project were presented at the World Congress of the International Economic Association, at the International Conference on Macroeconomic Analysis, at the International Institute of Public Finance, and at the International Atlantic Economic Conference. Other parts were presented at the Macro Study Group of the German Economic Association, at the Annual Meeting of the Austrian Economic Association, at the Gottingen Workshop on International Economics, at the Halle Workshop on Monetary Economics, at the Research Seminar on Macroeconomics in Freiburg, at the Research Seminar on Economics in Kassel, and at the Passau Workshop on International Economics.
Fiscal Aspects Of European Monetary Integration
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Author : Andrew Hughes Hallett
language : en
Publisher: Cambridge University Press
Release Date : 1999-10-07
Fiscal Aspects Of European Monetary Integration written by Andrew Hughes Hallett and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-10-07 with Business & Economics categories.
A survey of fiscal policy under the restrictions of a single monetary policy and the Stability Pact.