The Theory Of Optimal Currency Areas Pros And Cons Of The Eurozone
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The Theory Of Optimal Currency Areas Pros And Cons Of The Eurozone
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Author : Thorsten Mannherz
language : en
Publisher: GRIN Verlag
Release Date : 2017-10-17
The Theory Of Optimal Currency Areas Pros And Cons Of The Eurozone written by Thorsten Mannherz and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-10-17 with Business & Economics categories.
Seminar paper from the year 2016 in the subject Economics - Finance, grade: 1,7, University of applied sciences, Cologne, course: Economics, language: English, abstract: On the 1st of January 1999, 11 European countries adopted the Euro as their official currency. A new Economic and Monetary Union with more than 300 million citizens was born. Sharing a common currency offers several advantages for countries, firms and citizens like enhanced cross-border trade, a better price transparency or the disappearance of foreign exchange rate risks. However, a Monetary Union also comes with constraints like the loss of exchange rate regime of its members which is an important instrument to fight adverse shocks. In order to minimize economic risks for its members and to foster the economic stability of the future European EMU, the European Union member states agreed to meet the Euro Convergence Criteria as a requirement to adopt the Euro. During the negotiations about the necessary criterion, the theory of Optimal Currency Areas – a theory which has its origin in the Bretton Woods era – was deliberately reincarnated by economists to verify whether or not the Eurozone can become a successful EMU. Until today the (traditional) OCA theory is often used by the literature and also by politicians to evince fundamental flaws of the Eurozone. This assignment investigates the Eurozone in the light of the theory of Optimal Currency Areas. In the first part of this assignment the main contributors to the theory of Optimal Currency Areas are enumerated and its most significant factors are explained. The second part applies the listed factors to the Eurozone in order to determine whether or not a specific criterion is fulfilled by the European EMU. A summary and conclusion complete this essay.
Handbook Of The History Of Money And Currency
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Author : Stefano Battilossi
language : en
Publisher: Springer
Release Date : 2020-03-13
Handbook Of The History Of Money And Currency written by Stefano Battilossi and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-03-13 with Business & Economics categories.
This handbook provides a comprehensive overview of state-of-the-art research in the field of monetary and financial history. The authors comprise different generations of leading scholars from universities worldwide. Thanks to its unrivaled breadth both in time (from antiquity to the present) and geographical coverage (from Europe to the Americas and Asia), the volume is set to become a key reference for historians, economists, and social scientists with an interest in the subject. The handbook reflects the existing variety of scholarly approaches in the field, from theoretically driven macroeconomic history to the political economy of monetary institutions and the historical evolution of monetary policies. Its thematic sections cover a wide range of topics, including the historical origins of money; money, coinage, and the state; trade, money markets, and international currencies; money and metals; monetary experiments; Asian monetary systems; exchange rate regimes; monetary integration; central banking and monetary policy; and aggregate price shocks.
One Market One Money
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Author : Michael Emerson
language : en
Publisher:
Release Date : 1992
One Market One Money written by Michael Emerson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Business & Economics categories.
The European Community is negotiating a new treaty to establish the constitutional foundations of an economic and monetary union in the course of the 1990s. This study provides the only comprehensive guide to the economic implications of economic and monetary union. The work of an economist inside the Commission of the European Community, it reflects the considerations influencing the design of the union. The study creates a unique bridge between the insights of modern economic analysis and the work of the policy makers preparing for economic and monetary union.
European Variations As A Key To Cooperation
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Author : Ernst Hirsch Ballin
language : en
Publisher: Springer Nature
Release Date : 2020-01-02
European Variations As A Key To Cooperation written by Ernst Hirsch Ballin and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-01-02 with Political Science categories.
This Open Access book offers a novel view on the benefits of a lasting variation between the member states in the EU. In order to bring together thirty very different European states and their citizens, the EU will have to offer more scope for variation. Unlike the existing differentiation by means of opt-outs and deviations, variation is not a concession intended to resolve impasses in negotiations; it is, rather, a different structuring principle. It takes differences in needs and in democratically supported convictions seriously. A common core remains necessary, specifically concerning the basic principles of democracy, rule of law, fundamental rights and freedoms, and the common market. By taking this approach, the authors remove the pressure to embrace uniformity from the debate about the EU’s future. The book discusses forms of variation that fall both within and outside the current framework of European Union Treaties. The scope for these variations is mapped out in three domains: the internal market; the euro; and asylum, migration and border control.
Euro
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Author : Philip Booth
language : en
Publisher: Institute of Economic Affairs
Release Date : 2013
Euro written by Philip Booth and has been published by Institute of Economic Affairs this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Business & Economics categories.
Examining the debate from when the euro was first introduced to the sources of its current problems, this book proposes radical solutions to resolve the long-running crisis of the European Monetary Union. Initially, free-market economists were generally supportive of the euro, believing it would reduce the tendency towards inflation and encourage economic reform. However, in this current analysis, the authors--a group of leading monetary economists--make it perfectly clear that if the members of the eurozone are to prosper in the long term, the status quo cannot continue. These nine essays explore topics that include the UK's decision not to join, the fate of past monetary unions, why the euro is failing, practical exit strategies, and a possible free-banking solution for the eurozone, among many more.
Currency Unions
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Author : Alberto Alesina
language : en
Publisher: Hoover Institution Press
Release Date : 2013-11-01
Currency Unions written by Alberto Alesina and has been published by Hoover Institution Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-11-01 with Business & Economics categories.
Currency Unions reviews the traditional case for flexible exchange rates and "countercyclical"—that is, expansionary during recessions and contractionary in booms—monetary policy, and shows how flexible exchange rate regimes can better insulate the economy from such real disturbances as terms-of-trade shocks. The book also looks at the pitfalls of flexible exchange rates—and why fixed rates, particularly full dollarization—might be a more sensible choice for some emerging-market countries. The contributors also detail the factors that determine the optimal sizes of currency unions, explain how currency union greatly expands the volume of international trade among its members, and examine the recent implementation of dollarization in Ecuador.
The International Economy
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Author :
language : en
Publisher:
Release Date : 1955
The International Economy written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1955 with categories.
The Political Economy Of A Common Currency
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Author : David Stasavage
language : en
Publisher: Ashgate Publishing, Ltd.
Release Date : 2003
The Political Economy Of A Common Currency written by David Stasavage and has been published by Ashgate Publishing, Ltd. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Business & Economics categories.
In this title, David Stasavage explores several alternative political economy explanations for the persistence of the Franc Zone and its macroeconomic management over the period 1945 to 2000. He addresses the issue of sustainability and asks why the Franc Zone has survived despite several major political and economic shocks that might have easily led to its dissolution. These include decolonisation, France's entry into the European Community and the growing marginalisation of Africa in world affairs. He also considers the issue of credibility and in particular the extent to which the Franc Zone arrangements commit member states to prudent macroeconomic policies.
Monetary Problems Of The International Economy
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Author : Robert A. Mundell
language : en
Publisher:
Release Date : 1981
Monetary Problems Of The International Economy written by Robert A. Mundell and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1981 with International finance categories.
The International Disequilibrium System
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Author : Robert Alexander Mundell
language : en
Publisher:
Release Date : 1961
The International Disequilibrium System written by Robert Alexander Mundell and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1961 with Balance of payments categories.