Stabilization Policy In An Exchange Rate Union
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Stabilization Policy In An Exchange Rate Union
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Author : Valeria De Bonis
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Stabilization Policy In An Exchange Rate Union written by Valeria De Bonis 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.
The treaty of Maastricht envisages the full economic and monetary union in Europe. With increasing real and monetary integration policy decisions in individual member countries tend to have a growing impact on the other member countries of the European Community. Against this background the following study analyses within a unified theoretical framework the impact of monetary and fiscal policy pursued by one country on its own macroeconomic performance as well as on those of the other member countries and of the rest of the world. The analysis contrasts the cases of a small and a large European union relative to the rest of the world and distinguishes very clearly between the short-run, the medium-run and the long-run effects. Based on this the consequences for union cohesion and the scope for policy coordination are discussed. Since the analytical framework is defined by a three country model many results from the traditional policy coordination literature which relies on two country models are qualified. In contrasts to most previous research in this area particular attention is paid to the implications of asymmetries between the EC member countries. Furthermore, the structural parameters are in some instances not taken as given but as responsive to the integration process. In this context numerous links to the traditional literature on optimal currency areas are established and interesting implications for union cohesion during the transition are derived.
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.
Transition And Price Stabilization Policies In East European Agriculture
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Author : Emil Maria Claassen
language : en
Publisher: Food & Agriculture Org.
Release Date : 1994-01-01
Transition And Price Stabilization Policies In East European Agriculture written by Emil Maria Claassen and has been published by Food & Agriculture Org. this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994-01-01 with Business & Economics categories.
Trade Unions Wage Formation And Macroeconomic Stability
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Author : Lars Calmfors
language : en
Publisher: Springer
Release Date : 2016-02-10
Trade Unions Wage Formation And Macroeconomic Stability written by Lars Calmfors and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-02-10 with Business & Economics categories.
Money Financial Instability And Stabilization Policy
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Author : L. Randall Wray
language : en
Publisher: Edward Elgar Publishing
Release Date : 2006-01-01
Money Financial Instability And Stabilization Policy written by L. Randall Wray 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.
Money, Financial Instability and Stabilization Policy consists of original articles by leading Post Keynesians, Kaleckians and other heterodox economists from the developed and developing world. Post Keynesian literature has long been associated with the study of money, financial markets and financial instability. Indeed, this is perhaps the area to which Post Keynesians have made the greatest contributions. The authors to this volume present an overview of the latest research on monetary theory and policy, financial markets, and financial instability coming out of the Post Keynesian school of thought. They provide an indication of the wide-ranging interests and of the truly international scope of Post Keynesian research. The first half of the volume is theoretical, while the second half includes papers that are either empirical or more focused on specific concerns. This book will find an appreciative audience in economists generally as well as Post Keynesian, other heterodox economists and macroeconomists specifically.
Long Run Effects Of Short Run Stabilization Policy
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Author : Lars Calmfors
language : en
Publisher: Springer
Release Date : 1983-06-18
Long Run Effects Of Short Run Stabilization Policy written by Lars Calmfors and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1983-06-18 with Business & Economics categories.
Exchange Rate Theory And Practice
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Author : John F. Bilson
language : en
Publisher: University of Chicago Press
Release Date : 2007-12-01
Exchange Rate Theory And Practice written by John F. Bilson and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-12-01 with Business & Economics categories.
This volume grew out of a National Bureau of Economic Research conference on exchange rates held in Bellagio, Italy, in 1982. In it, the world's most respected international monetary economists discuss three significant new views on the economics of exchange rates - Rudiger Dornbusch's overshooting model, Jacob Frenkel's and Michael Mussa's asset market variants, and Pentti Kouri's current account/portfolio approach. Their papers test these views with evidence from empirical studies and analyze a number of exchange rate policies in use today, including those of the European Monetary System.
Policy Issues In The Operation Of Currency Unions
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Author : Paul R. Masson
language : en
Publisher: Cambridge University Press
Release Date : 1993-09-23
Policy Issues In The Operation Of Currency Unions written by Paul R. Masson 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 1993-09-23 with Business & Economics categories.
An overview and the latest research on single currency areas in Europe, the US, and the former USSR.
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.
International Economic Policy Coordination
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Author : Michael Carlberg
language : en
Publisher: Springer Science & Business Media
Release Date : 2005-03-04
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 2005-03-04 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.