Saving Europe S Automatic Stabilizers
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Saving Europe S Automatic Stabilizers
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Author : Barry J. Eichengreen
language : en
Publisher:
Release Date : 1996
Saving Europe S Automatic Stabilizers written by Barry J. Eichengreen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Fiscal policy categories.
Saving Europe
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Author : Carlo Bastasin
language : en
Publisher: Rowman & Littlefield
Release Date : 2012-03-08
Saving Europe written by Carlo Bastasin and has been published by Rowman & Littlefield this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-03-08 with Business & Economics categories.
Three times in the few years since the global financial crisis erupted, the euro has come close to extinction, endangering both the world economy and history's most ambitious project in shared sovereignty. Yet each time, the case for a common currency proved to be more compelling than its weaknesses, and the euro survived. Saving Europe reveals how the nexus of international economics and national politics pushed monetary union to the brink of a breakup, how that disastrous development was avoided, and why the long-term viability of a common currency challenges politics as we know it. Carlo Bastasin reveals and analyzes what has been happening behind the scenes in European negotiations since the financial crisis began with the collapse of major financial institutions in 2008. He argues that the crisis in the euro zone actually has a political origin, having emerged from the self-interested abuses of national politics. Moreover, the crisis is reinforced even now by the obstinate defense of national prerogatives in politics and finance as well as by the lack of commitment for shared or supranational sovereignty. While the prevalent view is that monetary union was a flawed project from the start and is in need of amending, Bastasin shows that the failures have to do almost entirely with national opportunism—not only in Greece but in most countries, including Germany—and concludes that the crisis will lead to Europe's political union. Bastasin's work is an engrossing historical chronicle, interweaving moments of high drama with individual personalities on the world stage. German ChancellorAngela Merkel, French President Nicolas Sarkozy, and national and European central bankers, among others, play key roles. Saving Europe is also a rigorous attempt to make larger sense of what has happened in the euro zone and what might happen next. Given the central importance of Europe within the fragile world economy as well as growing speculation
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.
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.
The European Monetary Union After The Crisis
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Author : Nazaré da Costa Cabral
language : en
Publisher: Routledge
Release Date : 2020-06-09
The European Monetary Union After The Crisis written by Nazaré da Costa Cabral and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-06-09 with Business & Economics categories.
This book provides a much-needed detailed analysis of the evolution of Europe over the last decade, as well as a discussion about the path of reform that has been trodden in the aftermath of the financial crisis. It offers a multidisciplinary view of the E(M)U and captures the main factors that induced the reform of the monetary union – a process that has not been linear and is far from being concluded. The author examines the policy responses designed throughout the development of the crisis and assesses the scale of the crisis in Europe, in comparison to other parts of the world, as well as its prolonged effects both in economic and financial terms. An update on the current ‘state of the art’ in the conception of risk-sharing mechanisms is provided. With its innovative approach, the book analyses the financing issues which need to be taken into consideration in the design of these instruments and highlights the main categories of governmental risk-sharing mechanisms – in particular, the ones to be used as ‘fiscal capacity’. This is a timely and topical book and will be of interest to a broad audience, including experts, scholars and students of European affairs, particularly those with economic, financial, legal and political science backgrounds.
Stability And Growth In Europe
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Author : Antonio Fatás
language : en
Publisher: Centre for Economic Policy Research
Release Date : 2003
Stability And Growth In Europe written by Antonio Fatás and has been published by Centre for Economic Policy Research this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Business & Economics categories.
The fiscal policy framework of the EMU is in a states of crisis. Since the start of EMU, fiscal conditions in some member states have slipped considerably beyond the limits set by the Maastricht Treaty and the Stability and Growth Pact. It is clear that the preventive arm of the Stability and Growth Pact has failed to preclude excessive deficits. There is no shortage of proposals to reform the current fiscal framework in this crisis situation. They range from calls for softening their implementation, and to proposals for closer coordination of national fiscal policies. None of these proposals offers a convincing solution to the problem at the heart of the current crisis: how to balance the need for effective long-run fiscal stability in EMU with the need for short-run flexibility of fiscal policy in the member states. After a detailed analysis of the virtues and defects of the current fiscal framework, this report presents a proposal for reform that addresses this issue. The authors argue that EMU should move away from rigid fiscal rules for annual deficits towards a more judgmental process of monitoring the sustainability of fiscal policies. This approach is guided by three principles: independence, transparency, and legitimacy. Together wit the ability to assess the fiscal situation and outlook of each euro-area member state, they are the keys to designing a framework that provides enough flexibility and, at the same time, can build the required credibility and political support. The authors propose the creation of a Sustainability Council for the EMU, and independent body with the sole statutory task of safeguarding the sustainability of public finances in the euro area. The Sustainability Council regularly and openly reports to the public and the European Parliament its assessment of the member states' fiscal policies, taking into account past performance, current perspectives and the future course of fiscal policies. Its mandate is the counterpart of the ECB's principal task of maintaining price stability. However, the Sustainability Council has no operative role in fiscal policy; it relies solely on the pressure of informed public opinion to discipline national governments. The use of the instruments of fiscal policy is entirely left to the national governments, and the Sustainability Council can only be conceived as a judge of national public finances.
The European Union In Crisis
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Author : Desmond Dinan
language : en
Publisher: Bloomsbury Publishing
Release Date : 2017-09-09
The European Union In Crisis written by Desmond Dinan and has been published by Bloomsbury Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-09-09 with Political Science categories.
The European Union (EU) is in crisis. The crisis extends beyond Brexit, the fluctuating fortunes of the eurozone and the challenge of mass migration. It cuts to the core of the EU itself. Trust is eroding; power is shifting; politics are toxic; disillusionment is widespread; and solidarity has frayed. In this major new text leading academics come together to unpack all dimensions of the EU in crisis, and to analyse its implications for the EU, its member states and the ongoing study of European integration.
The Design Of Emu
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Author : Mr.David K. H. Begg
language : en
Publisher: International Monetary Fund
Release Date : 1997-08-01
The Design Of Emu written by Mr.David K. H. Begg 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 1997-08-01 with Business & Economics categories.
Pursuit of price stability may, but need not, exacerbate output fluctuations. This paper discusses the monetary strategy of the European Central Bank, the intermediate targets that this should entail, and implications for accountability, transparency, and reputation. Country-specific shocks will remain but output correlation may not reflect the old pattern of core and peripheral countries. The Stability Pact will force some countries to switch off their automatic stabilizers; others, with fewer fiscal problems, can retain them. Output correlations in EMU may reflect a fiscal core and fiscal periphery. Additional labor market flexibility remains the best solution.
Monetary Policy Transmission In The Euro Area
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Author : Ignazio Angeloni
language : en
Publisher: Cambridge University Press
Release Date : 2003-12-04
Monetary Policy Transmission In The Euro Area written by Ignazio Angeloni 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 2003-12-04 with Business & Economics categories.
A systematic analysis of the impact of European Central Bank monetary policy on Eurozone national economies, first published in 2003.
The Extent And Composition Of Automatic Stabilization In Eu Countries
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Author : Mr. David Coady
language : en
Publisher: International Monetary Fund
Release Date : 2023-05-12
The Extent And Composition Of Automatic Stabilization In Eu Countries written by Mr. David Coady 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 2023-05-12 with Business & Economics categories.
This paper analyses the magnitude of automatic income and demand stabilization in EU Member States between 2011 to 2019. Our analysis finds that automatic income stabilization in 2019 averaged 41.3 percent at the EU level, with considerable variation among Member States. While the extent of stabilization is similar across income groups within countries, the source of stabilization differs, with income taxation (transfers) being more important for high-income (low-income) households. Income stabilization proved stable over time, with a few exceptions driven by major reforms. EU-level demand stabilization averaged 84.7 percent, increasing with household income and reflecting the greater ability of richer households to smooth consumption.