Structural Reforms In Emu And Te Role Of Monetary Policy
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Structural Reforms In Emu And Te Role Of Monetary Policy
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Author : Nadine Leiner-Killinger
language : en
Publisher:
Release Date : 2007
Structural Reforms In Emu And Te Role Of Monetary Policy written by Nadine Leiner-Killinger and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
The need for structural reforms in the euro area has often been advocated. These reforms would improve the welfare of euro area citizens and also, as a welcome side-effect, facilitate the conduct of monetary policy. Against this background, a particularly relevant question that can be posed is whether monetary policy should help implement structural reforms. The objective of this paper is to provide a review of the existing literature on structural reforms in Economic and Monetary Union (EMU) and to discuss the possible ways in which monetary policy could support the structural reform process. In the context of EMU, the main conclusions that emerge are that the monetary policy for the euro area is not the appropriate tool for mitigating the potential and uncertain short-term costs of reforms or for providing incentives for structural reforms at the national level. However, credible monetary policy aimed at price stability can improve the functioning of the supply side of the economy and contribute to an environment which is conducive to welfare-enhancing structural changes. In addition, the ECBs̕ contribution to the implementation of structural reforms takes the form of analysis, assessment and communication.
Structural Reforms In Emu And The Role Of Monetary Policy A Survey Of The Literature
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Author : Nadine Leiner-Killinger
language : en
Publisher:
Release Date : 2007
Structural Reforms In Emu And The Role Of Monetary Policy A Survey Of The Literature written by Nadine Leiner-Killinger and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
The need for structural reforms in the euro area has often been advocated. These reforms would improve the welfare of euro area citizens and also, as a welcome side-effect, facilitate the conduct of monetary policy. Against this background, a particularly relevant question that can be posed is whether monetary policy should help implement structural reforms. The objective of this paper is to provide a review of the existing literature on structural reforms in Economic and Monetary Union (EMU) and to discuss the possible ways in which monetary policy could support the structural reform process. In the context of EMU, the main conclusions that emerge are that the monetary policy for the euro area is not the appropriate tool for mitigating the potential and uncertain short-term costs of reforms or for providing incentives for structural reforms at the national level. However, credible monetary policy aimed at price stability can improve the functioning of the supply side of the economy and contribute to an environment which is conducive to welfare-enhancing structural changes. In addition, the ECB's contribution to the implementation of structural reforms takes the form of analysis, assessment and communication.
The Interplay Between Missing Structural Reforms And Monetary Policy
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Author : Philipp Huber
language : en
Publisher:
Release Date : 2019-07-13
The Interplay Between Missing Structural Reforms And Monetary Policy written by Philipp Huber and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-07-13 with categories.
Bachelor Thesis from the year 2018 in the subject Economics - Macro-economics, general, grade: 1,3, University of Frankfurt (Main) (House of Finance), language: English, abstract: Many well-known economists argue to achieve a prospering economy; it is crucially important to have an efficient collaboration between a country's monetary policy, concerning a stable currency and inflation rate, as well as a proper fiscal policy, including structural reforms and governmental spendings. In the backdrop of this opinion, the European Monetary Union (EMU) was established in 1999, in which the monetary policy for several countries is centralised in one institution, the European Central Bank (ECB). This is a massive achievement, as for most of Europe's history, it has been at war with itself, which did not foster any trade or other kinds of economic co-operation. Europe was always a continent of trade barriers, tariffs and different currencies. Therefore, doing business across borders was always highly sluggish, and in the light of all these obstacles, it tended to stifle economic growth. After World War II has left Europe in a devastating condition, the natural choice to rebuild the continent was to remove these ancient barriers. By implementing the Euro in 1999, this went even a step further. Domestic currencies ended to exist as well as the very individual monetary policies. In consequence the national central banks shifted the control to the newly formed ECB. The Eurozone had now one unified monetary policy, but still many different fiscal policies in the respective member states. Before the Euro was born, countries like Greece or Italy not only had to pay high interest rates to borrow money, they also could only lend a limited amount, as lenders were not comfortable providing them too many credits. However, as they became members of the European Monetary Union, the tables turned, because big security providers, like Germany, were now part of it.
The Future Of Emu
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Author : L. Talani
language : en
Publisher: Springer
Release Date : 2009-01-15
The Future Of Emu written by L. Talani and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-01-15 with Political Science categories.
As European integration continues, the future of EMU becomes ever more important. Can EMU help create an integrated European community, or will it prove a hindrance to the EU project? This book brings together the experts in the area to provide an interdisciplinary perspective on the issues expected to face EMU over the next few decades.
Monetary Policy Fiscal Policies And Labour Markets
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Author : R. Beetsma
language : en
Publisher: Cambridge University Press
Release Date : 2007-09-24
Monetary Policy Fiscal Policies And Labour Markets written by R. Beetsma 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 2007-09-24 with Business & Economics categories.
A survey of fiscal policy, monetary policy and labour markets in the European Monetary Union.
Emu And Economic Policy In Europe
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Author : Marco Buti
language : en
Publisher: Edward Elgar Publishing
Release Date : 2002-01-01
Emu And Economic Policy In Europe written by Marco Buti 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 2002-01-01 with Business & Economics categories.
Explores issues surrounding the European Monetary Union, including the financial impact of the euro, the behavior of monetary and fiscal authorities, and the consequences of EU enlargement.
Structural Reform And Macroeconomic Policy
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Author : R. Solow
language : en
Publisher: Springer
Release Date : 2004-06-29
Structural Reform And Macroeconomic Policy written by R. Solow and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-06-29 with Business & Economics categories.
The relation between structural reform and macroeconomic policy underlies the widespread perception that the large European economies have under-performed in the past decade in comparison both with their own standards and with the contemporaneous performance of the United States. This book, edited and introduced by Noel Laureate Robert M. Solow, provides analyses of how these economies could take a co-ordinated and simultaneous approach to reform in labour and product markets and the demand side.
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.
Emu After Five Years
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Author :
language : en
Publisher:
Release Date : 2005
Emu After Five Years written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with EU categories.
Gennemgår den økonomiske udvikling i ØMU-landene i ØMUens første fem år, men har også et udblik til økonomien i de EU-lande, som står uden for ØMUen.
Accountability In The Economic And Monetary Union
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Author : Menelaos Markakis
language : en
Publisher: Oxford University Press
Release Date : 2020-04-02
Accountability In The Economic And Monetary Union written by Menelaos Markakis 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 2020-04-02 with Law categories.
Following the financial and public debt crisis, the EU's Economic and Monetary Union (EMU) has been under intense political scrutiny. The measures adopted in response to the crisis have granted additional powers to the EU (and national) authorities, the exercise of which can have massive implications for the economies of the Member States, financial institutions and, of course, citizens. The following questions arise: how can we hold accountable those institutions that are exercising power at the national and EU level? What is the appropriate level, type and degree of accountability and transparency that should be involved in the development of the EU's governance structures in the areas of fiscal and economic governance and the Banking Union? What is the role of parliaments and courts in holding those institutions accountable for the exercise of their duties? Is the revised EMU framework democratically legitimate? How can we bridge the gap between the citizens - and the institutions that represent them - and those institutions that are making these important decisions in the field of economic and monetary policy? This book principally examines the mechanisms for political and legal accountability in the EMU and the Banking Union. It examines the implications that the reforms of EU economic governance have had for the locus and strength of executive power in the Union, as well as the role of parliaments (and other political fora) and courts in holding the institutions acting in this area accountable for the exercise of their tasks. It further sets out several proposals regarding transparency, accountability, and legitimacy in the EMU.