Paths To Eurobonds
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Paths To Eurobonds
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Author : Mr.Stijn Claessens
language : en
Publisher: International Monetary Fund
Release Date : 2012-07-01
Paths To Eurobonds written by Mr.Stijn Claessens 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 2012-07-01 with Business & Economics categories.
This paper discusses proposals for common euro area sovereign securities. Such instruments can potentially serve two functions: in the short-term, stabilize financial markets and banks and, in the medium-term, help improve the euro area economic governance framework through enhanced fiscal discipline and risk-sharing. Many questions remain on whether financial instruments can ever accomplish such goals without bold institutional and political decisions, and, whether, in the absence of such decisions, they can create new distortions. The proposals discussed are also not necessarily competing substitutes; rather, they can be complements to be sequenced along alternative paths that possibly culminate in a fully-fledged Eurobond. The specific path chosen by policymakers should allow for learning and secure the necessary evolution of institutional infrastructures and political safeguards.
The European Sovereign Debt Crisis
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Author : Phoebus L. Athanassiou
language : en
Publisher: Routledge
Release Date : 2021-08-23
The European Sovereign Debt Crisis written by Phoebus L. Athanassiou and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-08-23 with Law categories.
The European Sovereign Debt Crisis: Breaking the Vicious Circle between Sovereigns and Banks explains why the euro area’s progress towards reining in the risks arising from the well-documented bi-directional financial contagion transmission mechanism that links sovereigns to commercial banks has been more prominent compared to the channel of contagion moving from banks to sovereigns. Providing an analysis of the legal and regulatory measures that Europe and the euro area have taken to mitigate the exposure of sovereigns to financial crises generated by commercial banks, this book draws attention to areas where improvements to the arsenal of tools hitherto introduced are either desirable or necessary. Chapters further explain – with recourse to economic and legal arguments – why the channel of contagion moving from sovereigns to commercial banks has proven harder to close, and explores ways in which progress could be made in the direction of closing it so as to avert the risk of future banking sector crises. This work provides essential reading for students, researchers and practitioners with an interest in sovereign debt crises and the euro-area banking system.
Routledge Handbook Of The Economics Of European Integration
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Author : Harald Badinger
language : en
Publisher: Routledge
Release Date : 2015-10-05
Routledge Handbook Of The Economics Of European Integration written by Harald Badinger and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-10-05 with Business & Economics categories.
Routledge Handbook of the Economics of European Integration provides readers with a brief but comprehensive overview of topics related to the process of European integration in the post-World War II period. Its short chapters reflect the most up-to-date and concise research, written by a collective of experts on their own subjects. The aim of this book is twofold. Firstly, the text illustrates the broad and diverse range of issues associated with European integration, and lastly, the key approaches and findings are summarised. Since institutional integration in Europe is an ongoing process, with possibly frequent and sometimes rapid changes, the chapters are intended to focus on the key features of the economic analyses of these topics. A wide and diverse set of economic issues is of direct relevance for European integration. These topics cover various fields, ranging from the history of the European Economic and Monetary Union, EU Trade Policy and the stability of international trade, single market issues over fiscal, monetary and other policies, the crisis that faces the Euro area, and institutions such as EU Council of Ministers. Not surprisingly, many of these issues have also been analysed from a European perspective. This handbook is designed to provide students, researchers, the public and policy makers with ready and accessible knowledge of issues related to European integration and will provide the definitive overview of research in the area.
Redefining European Economic Integration
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Author : Dariusz Adamski
language : en
Publisher: Cambridge University Press
Release Date : 2018-04-19
Redefining European Economic Integration written by Dariusz Adamski 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 2018-04-19 with Business & Economics categories.
An innovative, bipartisan and comprehensive account of why European economic integration has been in disarray and how to fix it.
Economic Governance In Europe
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Author : Federico Fabbrini
language : en
Publisher: Oxford University Press
Release Date : 2016
Economic Governance In Europe written by Federico Fabbrini and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with Law categories.
Offering a comparative examination of the constitutional implications of the Euro-crisis on vertical and horizontal relations of power in the EU, this book proposes new ways in which to perfect the governance of Economic and Monetary Union.
Tangled Governance
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Author : C. Randall Henning
language : en
Publisher: Oxford University Press
Release Date : 2017
Tangled Governance written by C. Randall Henning and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with Business & Economics categories.
Tangled Governance addresses the institutions that were deployed to fight the euro crisis, re-establish financial stability, and prevent contagion beyond Europe. The author addresses why European leaders chose to include the IMF and provides a detailed account of the decisions of the institutions that make up the 'Troika' (the European Commission, ECB, and IMF). He explains the institutions' negotiating strategies, the outcomes of their interaction, and the effectiveness of their cooperation. The book also explores the strategies of the member states, including Germany and the United States, with respect to the institutions and the advantages they sought in directing them to work together. The book locates the analysis within the framework of regime complexity, clusters of overlapping and intersecting regional and multilateral institutions. It tests conjectures spawned by that literature against the seven cases of financial rescues of euro area countries that were stricken by crisis during 2010-2015. Tangled Governance concludes that regime complexity is the consequence of a strategy by key states to control 'agency drift'. States mediate conflicts among institutions, through informal as well as formal mechanisms, and thereby limit fragmentation of the regime complex and underpin substantive efficacy. In so doing, the book answers several key puzzles, including why (a) Germany and other Northern European countries supported IMF inclusion despite substantive positions opposed to their economic preferences, (b) crisis-fighting arrangements endured intense conflicts among the institutions, and (c) the United States and the IMF promoted further steps to 'complete' the monetary union.
Collected Papers In Theoretical Economics Volume V Economic Policy And Its Theoretical Bases
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Author : Kaushik Basu
language : en
Publisher: Oxford University Press
Release Date : 2018-10-04
Collected Papers In Theoretical Economics Volume V Economic Policy And Its Theoretical Bases written by Kaushik Basu and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-10-04 with Business & Economics categories.
Effective policymaking is based on economics which is a blend of empiricism as well as theory. It needs to be grounded not only in data, statistics, and the regularities observed therein, but also analytics, deductive reasoning, and logic, which are the constituents of theory. Published during 2009–16, the seven years that Basu spent as a policymaker—first as chief economic adviser to the Government of India and then as chief economist of the World Bank—this volume draws on the work done by empirical economists and is rooted in analytics, even while addressing practical, down-to-earth problems. The papers having a direct bearing on economic policymaking in this quintessential compilation range from topics such as financial regulation, global policy coordination, aspects of the Indian economy like fiscal and monetary policy design, inflation management, food-grain policy and, more generally, the influence of theory on government policymaking. The volume addresses some of the most compelling challenges of our times, from the global financial crisis and sub-prime mortgage breakdown to corruption control and the design of interventions to provide subsidized food to the disadvantaged segments of society.
The Euro How A Common Currency Threatens The Future Of Europe
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Author : Joseph E. Stiglitz
language : en
Publisher: W. W. Norton & Company
Release Date : 2016-08-16
The Euro How A Common Currency Threatens The Future Of Europe written by Joseph E. Stiglitz and has been published by W. W. Norton & Company this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-08-16 with Business & Economics categories.
The Nobel Prize–winning economist and best-selling author explains why saving Europe may mean abandoning the euro. When Nobel Prize–winning economist Joseph E. Stiglitz posed this question in the original edition of The Euro, he lent much-needed clarity to a global debate that continues to this day. The euro was supposed to unify Europe and promote prosperity; in fact, it has done just the opposite. To save the European project, the euro may have to be abandoned. Since 2010, many of the 19 countries of Europe that share the euro currency—the eurozone—have been rocked by debt crises and mired in lasting stagnation, and the divergence between stronger and weaker economies has accelerated. In The Euro, Joseph E. Stiglitz explains precisely why the eurozone has performed so poorly, so different from the expectations at its launch: at the core of the failure is the structure of the eurozone itself, the rules by which it is governed. Stiglitz reveals three potential paths forward: drastic structural reforms, not of the individual countries, but of the eurozone; a well-managed dissolution of the euro; or a bold new system dubbed the “flexible euro.” With trenchant analysis—and brand new material on Brexit—The Euro is urgent and timely reading.
Politics And Finance In The European Union
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Author : Francesco Capriglione
language : en
Publisher: CEDAM
Release Date : 2016-03-09
Politics And Finance In The European Union written by Francesco Capriglione and has been published by CEDAM this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-03-09 with Law categories.
The recent financial and sovereign debt crisis, while turning the spotlight into the degenerating effects of modern-day capitalism, has engendered a series of hard-to-control events that are severely testing the stability of the European institutions. The adjustments, to date, have proved unable to adequately tackle the financial turmoil that is undermining the construction of the EU. Hence the need to identify the reasons behind this situation, which is accompanied by the failure to achieve an osmosis between the member countries of the Union. The objective to be pursued is clarifying the uncertainties and contradictions within Europe, for the purpose of addressing what many see as a “systemic crisis”.
Europe S Crisis Of Legitimacy
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Author : Vivien A. Schmidt
language : en
Publisher: Oxford University Press
Release Date : 2020-05-23
Europe S Crisis Of Legitimacy written by Vivien A. Schmidt and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-05-23 with Political Science categories.
This volume examines the interrelationship between democratic legitimacy at the European level and the ongoing Eurozone crisis that began in 2010. Europe's crisis of legitimacy stems from 'governing by rules and ruling by numbers' in the sovereign debt crisis, which played havoc with the eurozone economy while fueling political discontent. Using the lens of democratic theory, the book assesses the legitimacy of EU governing activities first in terms of their procedural quality ('throughput),' by charting EU actors' different pathways to legitimacy, and then evaluates their policy effectiveness ('output') and political responsiveness ('input'). In addition to an engaging and distinctive analysis of Eurozone crisis governance and its impact on democratic legitimacy, the book offers a number of theoretical insights into the broader question of the functioning of the EU and supranational governance more generally. It concludes with proposals for how to remedy the EU's problems of legitimacy, reinvigorate its national democracies, and rethink its future.