The Political Economy Of Monetary Solidarity
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The Political Economy Of Monetary Solidarity
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Author : Waltraud Schelkle
language : en
Publisher: Oxford University Press
Release Date : 2017-04-04
The Political Economy Of Monetary Solidarity written by Waltraud Schelkle 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 2017-04-04 with Political Science categories.
Creating the European monetary union between diverse and unequal nation states is arguably one of the biggest social experiments in history. This book offers an explanation of how the euro experiment came about and was sustained despite a severe crisis, and provides a comparison with the monetary-financial history of the US. The euro experiment can be understood as risk-sharing through a currency that is issued by a supranational central bank. A single currency shares liquidity risks by creating larger markets for all financial assets. A single monetary policy responds to business cycles in the currency area as a whole rather than managing the path of one dominant economy. Mechanisms of risk-sharing become institutions of monetary solidarity if they are consciously maintained, but they will periodically face opposition in member states. This book argues that diversity of membership is not an economic obstacle to the success of the euro, as diversity increases the potential gains from risk sharing. But political cooperation is needed to realize this potential, and such cooperation is up against collective action problems which become more intractable as the parties become more diverse. Hence, risk-sharing usually comes about as a collective by-product of national incentives. This political-economic tension can explain why the gains from risk-sharing are not more fully exploited, both in the euro area and in the US dollar area. This approach to monetary integration is based on the theory of collective action when hierarchy is not available as a solution to inter-state cooperation. The theory originates with Keohane and Ostrom (1995) and it is applied in this book, taking into account the latest research on the inherent instability of financial market integration.
The Political Economy Of European Monetary Unification
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Author : Barry Eichengreen
language : en
Publisher: Routledge
Release Date : 2018-03-08
The Political Economy Of European Monetary Unification written by Barry Eichengreen and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-03-08 with Political Science categories.
The first edition of this book was published in 1994, as the future of monetary unification in Europe was very much in doubt. With Economic and Monetary Union now in place, it is appropriate to bring the scholarship on the topic up to date for the students of international political economics. To this effect, essayists Jeffry Frieden, Geoffrey Garrett, Lisa L. Martin, Benjamin J. Cohen revised four of the original chapters to reflect new conditions. Editors, Barry Eichengreen and Frieden completely rewrote the introductory essay. Three new chapters by Matthew Gabel, Charles Engel, and Paul De Grauwe et al cover public support for EMU, local currency pricing, and whether Europe is now better off? The updated volume's purpose remains that of bringing the latest in scholarship in Economics and Political Science to bear on the European monetary integration
The Political Economy Of Monetary Union
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Author : Paul de Grauwe
language : en
Publisher: Edward Elgar Publishing
Release Date : 2001
The Political Economy Of Monetary Union written by Paul de Grauwe 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 2001 with Business & Economics categories.
This collection brings together both classic articles which have laid the foundations for the theory of optimum currency and the resulting empirical literature. Articles are presented in sections on the theory of optimum currency areas, empirical analysis of optimum currency areas, fiscal policies in a monetary union, the central bank in a monetary union, and issues of transition to monetary union. Most articles were originally published in the 1990s. The editor teaches international economics at the University of Leuven, Belgium. c. Book News Inc.
Political Economy Of Monetary Union
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Author : Malcolm Levitt
language : en
Publisher:
Release Date : 2000
Political Economy Of Monetary Union written by Malcolm Levitt and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with categories.
Interest Groups And Monetary Integration
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Author : Carsten Hefeker
language : en
Publisher: Routledge
Release Date : 2018-05-04
Interest Groups And Monetary Integration written by Carsten Hefeker and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-05-04 with Political Science categories.
The currency question, Disreali is reported to have said, has made even more persons mad than love. A quantitative test of the accuracy of this comparison is, in the present deplorable state of medical statistics, scarcely possible, But Disraeli may well have been right.
The Politics Of Europe
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Author : W. Bonefeld
language : en
Publisher: Springer
Release Date : 2001-03-23
The Politics Of Europe written by W. Bonefeld and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-03-23 with Political Science categories.
Assessments of the politics of European integration in general, and monetary union in particular, are many. In fact, the study of the European Union has become an academic growth industry. This book contributes to the debate a specific theoretical focus and practical perspective. The volume provides a critique of the political economy of European integration and its unique focus and scholarly analysis make it an indispensable contribution to a renewal of the Marxist critique of European integration.
Political Economy Of Money And Finance
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Author : M. Itoh
language : en
Publisher: Springer
Release Date : 1998-11-16
Political Economy Of Money And Finance written by M. Itoh and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-11-16 with Business & Economics categories.
To explain the pronounced instability of the world economy since the 1970s, the book offers an important and systematic theoretical examination of money and finance. It re-examines the classical foundations of political economy and the creator of money. It assesses all of the important theoretical schools since then, including Marxist, Keynesian, post-Keynesian and monetarist thinkers. By presenting important insights from Japanese political economy previously ignored in Anglo-Saxon economics, the authors make a significant contribution to radical political economy based on a thorough historical analysis of capitalism.
Money And Power In Europe
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Author : Matthias Kaelberer
language : en
Publisher: SUNY Press
Release Date : 2001-06-07
Money And Power In Europe written by Matthias Kaelberer and has been published by SUNY Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-06-07 with Political Science categories.
Traces the history of European monetary negotiations from the 1960s to the 1990s.
The Political Economy Of Monetary Institutions
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Author : William Bernhard
language : en
Publisher: MIT Press
Release Date : 2003-08-29
The Political Economy Of Monetary Institutions written by William Bernhard and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-08-29 with Business & Economics categories.
Political economists consider the political and economic factors that affect a country's choice of monetary institutions. Recent analysis by political economists of monetary institution determinants in different countries has been limited by the fact that exchange rate regimes and central bank institutions are studied in isolation from each other, without examining how one institution affects the costs and benefits of the other. By contrast, the contributors to this volume analyze the choice of exchange rate regime and level of central bank independence together; the articles (originally published in a special issue of International Organization) constitute a second generation of research on the determinants of monetary institutions. The contributors consider both economic and political factors to explain a country's choice of monetary institutions, and examine the effect of political processes in democracies, including interest group pressure, on the balance between economic and distributional policy.
Political Economy Of Financial Integration In Europe
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Author : Jonathan Story
language : en
Publisher: Manchester University Press
Release Date : 1997
Political Economy Of Financial Integration In Europe written by Jonathan Story and has been published by Manchester University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with European Union countries categories.
This volume traces the political, financial and economic steps towards financial union in Europe, focusing on the political economy of the process - notably the dynamics of a Europe of sovereign states.