Unions Central Banks And Emu
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Unions Central Banks And Emu
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Author : Bob Hancké
language : en
Publisher: OUP Oxford
Release Date : 2013-04-25
Unions Central Banks And Emu written by Bob Hancké and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-04-25 with Business & Economics categories.
This book examines the crisis of EMU through the lenses of comparative political economy. It retraces the development of wage-setting systems in the core and peripheral EMU member states, and how these contributed to the increasing divergence between creditor and debtor states in the late 2000s. Starting with the construction of the Deutschmark bloc, through the Maastricht process of the 1990s, and into the first decade of EMU, this book analyzes how labour unions and wage determination systems adjusted in response to monetary integration and, in turn, influenced the shape that monetary union would eventually take. Before the introduction of the Euro, labour unions were disciplined by central banks and governments, after social conflict in the north of the continent and with the use of social pacts in the others. Since controlling inflation had become the main goal of macro-economic policy, national central banks acted as a backstop to keep militant unions and profligate governments under control. Public sector wages thus were subordinated to manufacturing wages, a set-up policed by export sector unions, aided by the central bank. With the introduction of the single currency, the European Central Bank replaced the national central banks and, as a result, their capacity to control labour unions disappeared. The strong links between wages in the public sector unions and wages in the manufacturing export sector weakened dramatically in many countries, wage inflation re-emerged, and the stage was set for the current account divergences at the basis of the crisis of EMU.
Unions Central Banks And Emu
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Author : Daniel Anthony
language : en
Publisher: Createspace Independent Publishing Platform
Release Date : 2017-02-22
Unions Central Banks And Emu written by Daniel Anthony and has been published by Createspace Independent Publishing Platform this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-02-22 with categories.
This book examines the crisis of EMU through the lenses of comparative political economy. It retraces the development of wage-setting systems in the core and peripheral EMU member states, and how these contributed to the increasing divergence between creditor and debtor states in the late 2000s. Starting with the construction of the Deutschmark bloc, through the Maastricht process of the 1990s, and into the first decade of EMU, this book analyzes how labour unions and wage determination systems adjusted in response to monetary integration and, in turn, influenced the shape that monetary union would eventually take.
The Role Of Employer Associations And Labour Unions In The Emu
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Author : Gerhard Huemer
language : en
Publisher: Taylor & Francis
Release Date : 2018-11-07
The Role Of Employer Associations And Labour Unions In The Emu written by Gerhard Huemer and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-11-07 with Political Science categories.
First published in 1999, this volume recognises that in the course of European integration, national economic policy makers lose some effective policy instruments. Contributors to this omnibus volume analyse the 'room for maneuvering' available to national and EU economic and social policies under the conditions of the Economic and Monetary Union (EMU). They explore the possibilities for European coordination and discuss the tasks of employers’ associations and labour unions on the national and EU level in wage, employment and macroeconomic policies. Section 1 of the book deals with the strengths and weaknesses of the EU in the context of global competition. In spite of national differences, many of the EU member countries share important characteristics. Section 2 addresses the need for and the feasibility of policy coordination in the EMU. With the start of the EMU, wage policy will have to bear the main burden of absorbing asymmetrical economic shocks. The authors from the DIW argue that a wage policy favourable to economic growth, employment and convergence has to be guided by the inflation target set by the European Central Bank (ECB) and by the long-term increase of productivity in individual countries. A precondition for this kind of wage policy is coordination between the main actors of EU economic policy (ECB, EcoFin, social partners).
Monetary Unions
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Author : Forrest Capie
language : en
Publisher: Routledge
Release Date : 2003-09
Monetary Unions written by Forrest Capie and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-09 with Business & Economics categories.
The Economic and Monetary Union (EMU) has prompted much discussion. This book stands back and considers the relevant theory or what lessons might be drawn from other unions that have been formed as well as looking at EMU directly.
The Role Of Employer Associations And Labour Unions In The Emu
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Author : Gerhard Huemer
language : en
Publisher: Ashgate Publishing
Release Date : 1999
The Role Of Employer Associations And Labour Unions In The Emu written by Gerhard Huemer and has been published by Ashgate Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Business & Economics categories.
Internationally renowned authors discuss the present and future roles of employer associations and trade unions at the national level as well as at the EU level under the conditions set by the European Monetary Union.
Institutional Conflicts And Complementarities
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Author : Robert Franzese
language : en
Publisher: Springer Science & Business Media
Release Date : 2004
Institutional Conflicts And Complementarities written by Robert Franzese 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 2004 with Business & Economics categories.
This important collection presents an authoritative selection of papers on "Institutional Conflicts and Complementarities" This publication is intent on building bridges between economics and the other social sciences. The focus is on the interaction between monetary policy and wage bargaining institutions in European Monetary Union (EMU). Institutional Conflicts and Complementarities is written by acknowledged experts in their field. The outcome is a broad analysis of the interactions of labour market actors and central banks. The volume addresses the recent changes in EMU. An important theoretical, empirical, and policy-relevant conclusion that emerges from Institutional Conflicts and Complementarities is that even perfectly credible monetary conservatism has long-term real effects, even in equilibrium models with fully rational expectations.
Economic And Monetary Union
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Author : Klaus Gretschmann
language : en
Publisher: Springer
Release Date : 1993
Economic And Monetary Union written by Klaus Gretschmann and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Europe categories.
The Politics Of Economic And Monetary Union
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Author : Petri Minkkinen
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
The Politics Of Economic And Monetary Union written by Petri Minkkinen 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.
If the plans concerning EMU will be realised, by 2002 national currencies will be replaced by the Euro and national central banks will be partially replaced by the European Central Bank. The Politics of Economic and Monetary Union starts with the argument that EMU is more a political than an economic project. It develops this theme by addressing five different questions. First, precisely what is the general role of EMU in the globalising political economy? Second, how EMU will change the power relations and the relationship between `political' and `economic'? Third, what effects will EMU have on generally accepted values - including for example efficiency, self-determination, and democracy? Fourth, how does the EMU-related politics of symbols - including money - take part in constructing political identities? And last, but certainly not least, what effects EMU will have on the social and political dimension of the Union and thus also on its legitimacy? The politics of EMU includes many dimensions. The book tries to explain the hegemony of the neoliberal and German vision of Europe in the context of recent development in the global political economy. It assesses the consequences of this hegemony and the possibility for alternatives from a variety of perspectives. In many chapters, it is also argued that the legitimation problems of the Union may turn into an acute crisis also because of EMU. We should expect an actualised crisis to lead to a transformation of the Union.
The European System Of Central Banks
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Author : Barbara Dutzler
language : en
Publisher:
Release Date : 2003
The European System Of Central Banks written by Barbara Dutzler and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Business & Economics categories.
With the communitarisation of monetary policy and the establishment of a European Central Bank (ECB), the idea of insulating a central bank from the political process was realised to a degree yet undreamed of. The result, the asymmetric construction of Economic and Monetary Union (EMU), makes it difficult to democratically legitimise the exercise of power by the autonomous actor ECB. In this regard, EMU can be conceived as a parable for the respective difficulties of the European Union. As a still rare example for a combination of juridical and economic point of view, this volume makes this challenge subject of discussion. By means of comparison with the American central banking system, the book probes the ECB's institutional design, attempts to define the ECB's status in EMU, and looks for ways towards a more democratically legitimated economic and monetary policy.
Sui Generis European Monetary Union
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Author : Barry J. Eichengreen
language : en
Publisher:
Release Date : 2008
Sui Generis European Monetary Union written by Barry J. Eichengreen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Europe categories.
The thesis of this paper is that there is no historical precedent for Europe's monetary union (EMU). While it is possible to point to similar historical experiences, the most obvious of which were in the 19th century, occurred in Europe, and had "union" as part of their names, EMU differs from these earlier monetary unions. The closer one looks the more uncomfortable one becomes with the effort to draw parallels on the basis of historical experience. It is argued that efforts to draw parallels between EMU and monetary unions past are more likely to mislead than to offer useful insights. Where history is useful is not in drawing parallels but in pinpointing differences. It is useful for highlighting what is distinctive about EMU.