The Economics Of The Euro Area
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The Economics Of The Euro Area
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Author : Peter A. G. van Bergeijk
language : en
Publisher: Edward Elgar Publishing
Release Date : 2000
The Economics Of The Euro Area written by Peter A. G. van Bergeijk 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 2000 with Europe categories.
This is an examination of the monetary integration of the group of countries which constitute the Economic and Monetary Union (EMU), signalling the emergence of a truly European Economy. It analyzes the macroeconomic policies within the EMU and the thinking that underlies their conduct.
Revisiting The Economic Case For Fiscal Union In The Euro Area
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Author : Mr.Helge Berger
language : en
Publisher: International Monetary Fund
Release Date : 2018-02-20
Revisiting The Economic Case For Fiscal Union In The Euro Area written by Mr.Helge Berger 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 2018-02-20 with Business & Economics categories.
The paper makes an analytical contribution to the revived discussion about the euro area’s institutional setup. After significant progress during the euro crisis, the drive to complete Europe’s Economic and Monetary Union (EMU) had stalled, and the way forward will benefit from an in-depth look at the conceptual issues raised by the evolution and architecture of Europe, and the tradeoffs involved. A thorough look at the underlying economic issues suggests that in the long run, EMU will benefit from progressing along three mutually supporting tracks: introduce more fiscal risk sharing, helping to make the sovereign “no bailout” rule credible; complementary financial sector reforms to delink sovereigns and banks; and more effective rules to discourage moral hazard. This evolution would ensure that financial markets provide incentives for fiscal discipline. Introducing more fiscal union comes with myriad legal, technical, operational, and political problems, raising questions well beyond the remit of economics. But without decisive progress to foster fiscal risk sharing, EMU will continue to face existential risks.
The Pursuit Of Stability Of The Euro Area As A Whole
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Author : Luca Lionello
language : en
Publisher: Springer Nature
Release Date : 2019-10-14
The Pursuit Of Stability Of The Euro Area As A Whole written by Luca Lionello and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-10-14 with Law categories.
This book analyses the ongoing reform of the European economic union in the light of the new objective of ‘stability of the euro area as a whole’ in Article 136(3) TFEU. On the basis of the relevant legal sources, it qualifies this objective as the obligation to preserve the existence of the monetary union, the establishment of which was an EU goal laid down in Article 3(4) TEU. While to date the objective has been achieved through fiscal and macroeconomic consolidation in the member states and the activation of stabilisation mechanisms in cases of emergency, the book argues that full stability requires a better system of economic governance, either through a process of partial fiscal centralisation or the return to a more efficient and sustainable market discipline of public finances. It also analyses the concrete legal challenges these raise, including compliance with the conferral principle, the longstanding democratic deficit of the governance and the balance between financial solidarity and fiscal responsibility.
Governing The Euro Area In Good Times And Bad
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Author : Dermot Hodson
language : en
Publisher: Oxford University Press
Release Date : 2011-08-25
Governing The Euro Area In Good Times And Bad written by Dermot Hodson 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 2011-08-25 with Political Science categories.
Can the euro area survive without a more centralized economic policy? What lessons can be drawn from Economic and Monetary Union about new modes of policy-making in the European Union? Have euro area members spoken with one voice on the international stage and what does this mean for the European Union's ambitions to be a global actor in its own right? This book explores these three key questions through an in-depth analysis of euro area governance from the launch of the single currency in 1999 to the sovereign debt crisis of 2010. Drawing insights from the study of European Union politics, comparative political economy and international political economy, it examines: Economic and Monetary Union's break from the Community method of policy-making; the European Central Bank's ambivalence about the pursuit of ever closer union; the Eurogroup's rise and fall as a forum for economic policy coordination; the interplay between national fiscal institutions and the stability and growth pact; the broad economic policy guidelines' failure to apply peer pressure; the European Union's influence within the G20 and the International Monetary Fund at the height of the global financial crisis; euro diplomacy towards China and other rising powers; and current debates about the fate of EMU and the reform of euro area governance in the aftermath of the global financial crisis. The book's conclusions challenge claims that the euro area is in crisis because of its decentralized approach to decision-making alone and the corollary that the euro can be saved only through a further transfer of sovereignty to the supranational level.
Economics Of The European Union
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Author : Michael Artis
language : en
Publisher: Oxford University Press
Release Date : 2007-05-17
Economics Of The European Union written by Michael Artis 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 2007-05-17 with Business & Economics categories.
The new edition of this successful text analyses the current economic issues facing a rapidly changing Europe. The authors combine policy, history and data to present a global perspective of the EU, written with a range of students taking an introductory module in European Economics in mind.With new material on the economic relationship between the EU and the US, Enlargement and the Lisbon process the authors consider the changing landscape and Europe's development as a major global player. The authors use history, theory and analysis including comparative data to evaluate Economic policies ranging from the Common Agricultural Policy and Competition Policy to Social Policy and Monetary Policy and to assess issues such as unemployment and foreign aid.The contributors are drawn from a range of Universities such as Vienna, Manchester, Brussels, LSE and Purdue, as well as institutions such as the IMF and the European Central Bank.
The Trader S Guide To The Euro Area
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Author : David J. Powell
language : en
Publisher: John Wiley & Sons
Release Date : 2013-08-14
The Trader S Guide To The Euro Area written by David J. Powell and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-08-14 with Business & Economics categories.
The euro area remains in a state of flux and appears to be unsustainable in its present form. The outcome of the crisis may be unknown for years and a judgement on the project’s success or failure may be out of reach for decades. In the meantime, analysts, portfolio managers and traders will still have daily, weekly, quarterly and annual benchmarks. They will have to analyze economic developments in the euro area and their impacts on financial assets. The objective of this book is to provide a framework for that analysis that is comprehensible to most financial market participants. The book begins with a focus on coincident and leading economic indicators for the euro area. The following section looks at euro-area institutions. The next chapter focuses on the euro crisis. It attempts to provide an explanation of its origins and a glimpse of the potential outcomes. In addition, the tools needed to analyze the crisis as it evolves are presented. The last sections provide information unique to the economies of Germany, France, the U.K., Switzerland, Sweden and Norway.
The Euro And The Crisis
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Author : Nazaré da Costa Cabral
language : en
Publisher: Springer
Release Date : 2016-11-30
The Euro And The Crisis written by Nazaré da Costa Cabral and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-11-30 with Business & Economics categories.
This book analyzes the effects of the recent crisis and evaluates potential solutions to the gridlock that is currently dominating the Eurozone and the European Union, concerning both the monetary policy and the budgetary and fiscal policy. The timely study highlights the main challenges that European political leaders will face in the months to come. Furthermore, its interdisciplinary approach embraces economic, financial and legal perspectives, so as to ensure the global coherence and comprehensiveness of its content. The contributors to this volume are prominent experts from the areas of Economics, Finance, Law, and Political Science, offering readers a multifaceted view of the topics discussed.
Where Economists And Diplomats Meet
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Author : Tobias Kunstein
language : en
Publisher: Nomos Verlagsgesellschaft Mbh & Company
Release Date : 2013
Where Economists And Diplomats Meet written by Tobias Kunstein and has been published by Nomos Verlagsgesellschaft Mbh & Company this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Business & Economics categories.
Within the European Union, the introduction of the common currency has given birth to the 'euro area.' Coordination between the euro countries increasingly exceeds purely monetary aspects, leading to the euro area's conceptualization as an actor in its own right. Its external representation at the international level can be understood as part of an incremental development that has gained further prominence against the background of recent financial crises in several euro countries. Using sources, such as expert interviews, and starting from a basic neo-institutionalist analytical framework, this book combines a systematic problem analysis with a critical appraisal of real-world developments from the origins of Economic and Monetary Union to the year 2011. The book complements the state-of-the-art in research on European integration in a domain at the interface between economics and foreign policy that has received little attention thus far. (Series: Studies on the European Union - Vol. 9)
The Economics Of Europe And The European Union
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Author : Larry Neal
language : en
Publisher: Cambridge University Press
Release Date : 2007-03-01
The Economics Of Europe And The European Union written by Larry Neal 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 2007-03-01 with Business & Economics categories.
This distinctive textbook combines comprehensive coverage of the key policy areas of the European Union with analysis of individual countries, including the recent accession countries and Turkey. Part I analyzes the economic bases for the rise of the European Union from its origins in the post-World War II recovery to its historic enlargement in 2004. Part II takes up the different nation-state perspectives on the EU's economic policies by looking in turn at all European countries, whether members of the EU or not. The book is unique in providing both an EU perspective and European nation-state perspective on the major policy issues which have arisen since the end of World War II, as well as putting the economic analysis into an historical narrative which emphasizes the responses of policy-makers to external shocks such as the Cold War, the oil shocks, German reunification, and the collapse of the Soviet Union.
Economic Policy Coordination In The Euro Area
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Author : Armin Steinbach
language : en
Publisher: Routledge
Release Date : 2014-05-09
Economic Policy Coordination In The Euro Area written by Armin Steinbach and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-05-09 with Business & Economics categories.
The European debt crisis has given new impetus to the debate on economic policy coordination. In economic literature, the need for coordination has long been denied based on the view that fiscal, wage and monetary policy actors should work independently. However, the high and persistent degree of macroeconomic disparity within the EU and the absence of an optimum currency area has led to new calls for examining policy coordination. This book adopts an institutional perspective, exploring the incentives for policymakers that result from coordination mechanisms in the fields of fiscal, monetary and wage policy. Based on the concept of externalities, the work examines cross-border spillovers (e.g. induced by fiscal policy) and cross-policy spillovers (e.g. between fiscal and monetary policies), illuminating how they have empirically changed over time and how they have been addressed by policymakers. Steinbach introduces a useful classification scheme that distinguishes between vertical and horizontal coordination as well as between cross-border and cross-policy coordination. The author discusses farther-reaching forms of fiscal coordination (e.g. debt limits, insolvency proceedings, Eurobonds) with special attention to how principals of state organization affect their viability. Federal states and Bundesstaaten differ in the incentives they offer for debt accumulation – and thus in their suitability for fiscal coordination. Steinbach finds that the originally strict separation between policy areas has undergone significant change during the debt crisis. Indeed, recent efforts to coordinate policy are no longer limited to one policy area, but now extend to several areas. Steinbach argues that further fiscal policy coordination can be effectively deployed to address policy externalities, but that the coordination mechanisms used must match the form of state organization in the first place. Regarding wage policies, there are significant barriers to coordination. Notwithstanding some empirical successes in the implementation of a productivity-oriented wage policy, the high heterogeneity of national wage-setting institutions is likely to prevent any wage coordination.