Macroeconomic Analysis Of Monetary Unions
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Macroeconomic Analysis Of Monetary Unions
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Author : Oscar Bajo-Rubio
language : en
Publisher: Springer Science & Business Media
Release Date : 2011-05-06
Macroeconomic Analysis Of Monetary Unions written by Oscar Bajo-Rubio 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 2011-05-06 with Business & Economics categories.
The book develops a general framework for the macroeconomic modeling of monetary unions. The starting point of the analysis is the standard two-country Mundell-Fleming model with perfect capital mobility, extended to incorporate the supply side in a context of rigid real wages, and modified so that the money market is common for two countries forming a monetary union. The model is presented in two versions: for a small and a large monetary union, respectively. After solving each model, the authors derive multipliers for monetary, expenditure, supply, and external shocks, both in the short and the long run; a graphical analysis is also provided. Special attention is paid to the crucial distinction between symmetric and asymmetric shocks.
An Economic Analysis Of Monetary Union
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Author : Michael Carlberg
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
An Economic Analysis 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 2012-12-06 with Business & Economics categories.
This book explores the new economics of monetary union. It carefully discusses the effects of shocks and policies on output and prices. Shocks and policies are country-specific or common. They occur on the demand or supply side. Countries can differ in behavioural functions. Wages can be fixed, flexible, or slow. In addition, fixed wages and flexible wages can coexist. Take for instance fixed wages in Germany and flexible wages in France. Or take fixed wages in Europe and flexible wages in America. A special feature of this book is the numerical estimation of shock and policy multipliers. Further topics are inflation and disinflation. Take for instance inflation in Germany and price stability in France. Then what policy is needed for disinflation in the union? And what will be the dynamic effects on Germany and France?
Macroeconomics Of Monetary Union
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Author : Michael Carlberg
language : en
Publisher: Springer
Release Date : 2010-10-19
Macroeconomics Of Monetary Union written by Michael Carlberg and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-10-19 with Business & Economics categories.
This is what we’ve all been waiting for – a book that demystifies the European community’s monetary union. Unlike other books, this one provides readers with a practical yet sophisticated grasp of the macroeconomic principles necessary to understand a monetary union. The most important case in point is the Euro area, where policy targets are price stability and full employment. To illustrate all of this there are numerical simulations of monetary policy, fiscal policy, and wage policy.
Inflation And Unemployment In A Monetary Union
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Author : Michael Carlberg
language : en
Publisher: Springer Science & Business Media
Release Date : 2008-07-15
Inflation And Unemployment In A 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 2008-07-15 with Business & Economics categories.
This book studies the coexistence of inflation and unemployment in a monetary union. The focus is on how to reduce the associated loss. The primary target of the European central bank is low inflation in Europe. The primary target of the German government is low unemployment in Germany. And the primary target of the French government is low unemployment in France. The European central bank has a quadratic loss function. The same applies to the German government and the French government. The key questions are: To what extent can the sequential process of monetary and fiscal decisions reduce the loss caused by inflation and unemployment? Is monetary and fiscal cooperation superior to the sequential process of monetary and fiscal decisions? 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 Göttingen 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.
Should African Monetary Unions Be Expanded An Empirical Investigation Of The Scope For Monetary Integration In Sub Saharan Africa
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Author : Mr.Xavier Debrun
language : en
Publisher: International Monetary Fund
Release Date : 2010-07-01
Should African Monetary Unions Be Expanded An Empirical Investigation Of The Scope For Monetary Integration In Sub Saharan Africa written by Mr.Xavier Debrun 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 2010-07-01 with Business & Economics categories.
This paper develops a full-fledged cost-benefit analysis of monetary integration, and applies it to the currency unions actively pursued in Africa. The benefits of monetary union come from a more credible monetary policy, while the costs derive from real shock asymmetries and fiscal disparities. The model is calibrated using African data. Simulations indicate that the proposed EAC, ECOWAS, and SADC monetary unions bring about net benefits to some potential members, but modest net gains and sometimes net losses for others. Strengthening domestic macroeconomic frameworks is shown to provide some of the same improvements as monetary integration, reducing the latter’s relative attractiveness.
Economics Of Monetary Union
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Author : Paul de Grauwe
language : en
Publisher: Oxford University Press, USA
Release Date : 2007
Economics Of Monetary Union written by Paul de Grauwe and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Business & Economics categories.
The seventh edition of 'Economics of Monetary Union' provides a concise analysis of the theories and policies relating to monetary union. De Grauwe analyses the costs and benefits associated with having one currency as well as the practical workings and current issues involved with the Euro. In the first part of the book the author considers the implications of joining a monetary union through discussion based on an economic cost-benefit analysis. The second part of the book looks at the reality of monetary unions by analysing Europe's experiences, such as how the European Central Bank was designed to conduct a single monetary policy. The seventh edition has been revised to include more discussion of monetary unions outside Europe and, to reflect this fast-moving area, updated coverage of new member states in transition and an updated discussion of the stability pact. Online Resource Centre An online resource centre, featuring supplements for lecturers including PowerPoint slides and an instructor manual, has been updated for this edition.
Strategic Policy Interactions In A Monetary Union
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Author : Michael Carlberg
language : en
Publisher: Springer Science & Business Media
Release Date : 2009-03-10
Strategic Policy Interactions In A 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 2009-03-10 with Business & Economics categories.
This book studies the strategic policy interactions in a monetary union. The leading protagonists are the European Central Bank and national governments. The target of the ECB is low inflation in Europe. The targets of a national government are low unemployment and a low structural deficit. There are demand shocks, supply shocks, and mixed shocks. There are country-specific shocks and common shocks. This book develops a series of basic, intermediate, and more advanced models. Here the focus is on the Nash equilibrium. The key questions are: Given a shock, can policy interactions reduce the existing loss? And to what extent can they do so? Another topical issue is policy cooperation. To illustrate all of this there are a lot of numerical examples. 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 Göttingen 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.
The Macroeconomics Of Monetary Union
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Author : David Fielding
language : en
Publisher: Taylor & Francis
Release Date : 2005-11-04
The Macroeconomics Of Monetary Union written by David Fielding and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-11-04 with Business & Economics categories.
This book applies contemporary macroeconomic theory and econometric modelling techniques in order to address policy issues relating to the CFA Franc Zone, a group of francophone African Countries sharing a common currency that is linked to the French Franc / Euro. Within this methodological framework, the author analyses the way in which the monetary institutions of the CFA influence macroeconomic development and policy formation.
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.
Macroeconomic Modelling And Monetary And Exchange Rate Regimes
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Author : Masson Paul R
language : en
Publisher: World Scientific
Release Date : 2019-07-23
Macroeconomic Modelling And Monetary And Exchange Rate Regimes written by Masson Paul R 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.