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A Euro Area Wide Unemployment Insurance To Improve Macroeconomic Stability
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Book Synopsis A Euro Area wide Unemployment Insurance to Improve Macroeconomic Stability by : Christian Kitzmueller
Download or read book A Euro Area wide Unemployment Insurance to Improve Macroeconomic Stability written by Christian Kitzmueller and published by GRIN Verlag. This book was released on 2015-01-19 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2014 in the subject Economics - Finance, grade: 1, Donau-Universität Krems (Department for Management and Economics), course: International Financial Environment, language: English, abstract: The member states of the euro area have delegated the framing of monetary policy to a European Central Bank, while fiscal policy remains in responsibility of the national governments. In a monetary union, counter-cyclical fiscal policy can deliver only limited help to minimize the loss of monetary policy for adjustment to idiosyncratic shocks. As fiscal capacity at EMU level could transfer a significant part of the cyclical aspects of fiscal policy to the su¬pranational level and help the euro area members to focus their fiscal policy on structural balances. A variety of such risk-sharing mechanisms have been suggested in the academic literature. This Master’s Thesis evaluates the concept of euro area wide unemployment insurance, in comparison with cyclical transfers between the Eurozone members based on their business cycle position. The European unemployment insurance scheme surpasses other concepts with regards to the criteria distributional neutrality and transparency, both of which are essential in order to gain support of European policymakers and voters.
Book Synopsis A European Unemployment Benefit Scheme by : Bertelsmann Stiftung
Download or read book A European Unemployment Benefit Scheme written by Bertelsmann Stiftung and published by Verlag Bertelsmann Stiftung. This book was released on 2014-03-01 with total page 175 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent euro crisis and the dramatic increase of unemployment in some euro countries have triggered a renewed interest in a fiscal capacity for the European Union to stabilize the economy of its member states. One of the proposed instruments is a common European unemployment insurance. In this book Sebastian Dullien from the HTW Berlin provides and evaluates a blueprint for such a scheme. Building on lessons from the unemployment insurance in the United States of America, he outlines how a European unemployment benefit scheme could be constructed to provide significant stabilization to national business cycles, yet without strongly extending social protection in Europe. Macroeconomic stabilization effects and payment flows between countries are simulated and options, potential pitfalls and existing concerns discussed.
Book Synopsis Economic Convergence in the Euro Area: Coming Together or Drifting Apart? by : Mr.Jeffrey R. Franks
Download or read book Economic Convergence in the Euro Area: Coming Together or Drifting Apart? written by Mr.Jeffrey R. Franks and published by International Monetary Fund. This book was released on 2018-01-23 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine economic convergence among euro area countries on multiple dimensions. While there was nominal convergence of inflation and interest rates, real convergence of per capita income levels has not occurred among the original euro area members since the advent of the common currency. Income convergence stagnated in the early years of the common currency and has reversed in the wake of the global economic crisis. New euro area members, in contrast, have seen real income convergence. Business cycles became more synchronized, but the amplitude of those cycles diverged. Financial cycles showed a similar pattern: sychronizing more over time, but with divergent amplitudes. Income convergence requires reforms boosting productivity growth in lagging countries, while cyclical and financial convergence can be enhanced by measures to improve national and euro area fiscal policies, together with steps to deepen the single market.
Book Synopsis International Macroeconomics in the Wake of the Global Financial Crisis by : Laurent Ferrara
Download or read book International Macroeconomics in the Wake of the Global Financial Crisis written by Laurent Ferrara and published by Springer. This book was released on 2018-06-13 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.
Book Synopsis Background Studies for the ECB's Evaluation of Its Monetary Policy Strategy by : Otmar Issing
Download or read book Background Studies for the ECB's Evaluation of Its Monetary Policy Strategy written by Otmar Issing and published by . This book was released on 2003 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 : Total Pages :66 pages Book Rating :4.4/5 (2 download)
Book Synopsis Ireland by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Ireland written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2022-07-07 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ireland has considerably strengthened financial sector regulation and supervision since the 2016 FSAP, aided by the ECB/SSM, and is working with European and international regulators to strengthen oversight of the large market-based finance (MBF) sector. This strengthening is evidenced by a successful navigation through the challenges of Brexit and the pandemic. Despite global headwinds, Ireland is exiting the pandemic with strong economic growth and a highly capitalized and liquid banking system. The financial system has grown rapidly and in complexity, especially after Brexit, and Ireland has become a European base for large financial groups. The MBF sector has grown to the second largest in Europe, with global interlinkages.
Book Synopsis Lessons from Successful Labor Market Reformers in Europe by : Mr.Anthony Annett
Download or read book Lessons from Successful Labor Market Reformers in Europe written by Mr.Anthony Annett and published by International Monetary Fund. This book was released on 2007-05-01 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Welfare states can be reformed successfully, and popular support for reforms can be maintained. But this requires an internally consistent package of labor market, fiscal, and product market reforms, including some kind of buy-in, through, for example, tax cuts. Empirical analysis combined with a select number of case studies-comprising Ireland, Denmark, the Netherlands, and the United Kingdom-reveals that successful reformers focused on increasing labor supply through benefit reform, lowering tax wedges, and lowering government consumption. At the same time, greater labor supply translated into employment growth more effectively in the presence of liberal labor and product markets.
Book Synopsis Financial Crisis Management and Democracy by : Bettina De Souza Guilherme
Download or read book Financial Crisis Management and Democracy written by Bettina De Souza Guilherme and published by Springer Nature. This book was released on 2020-12-09 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book discusses financial crisis management and policy in Europe and Latin America, with a special focus on equity and democracy. Based on a three-year research project by the Jean Monnet Network, this volume takes an interdisciplinary, comparative approach, analyzing both the role and impact of the EU and regional organizations in Latin America on crisis management as well as the consequences of crisis on the process of European integration and on Latin America’s regionalism. The book begins with a theoretical introduction, exploring the effects of the paradigm change on economic policies in Europe and in Latin America and analyzing key systemic aspects of the unsustainability of the present economic system explaining the global crises and their interconnections. The following chapters are divided into sections. The second section explores aspects of regional governance and how the economic and financial crises were managed on a macro level in Europe and Latin America. The third and fourth sections use case studies to drill down to the impact of the crises at the national and regional levels, including the emergence of political polarization and rise in populism in both areas. The last section presents proposals for reform, including the transition from finance capitalism to a sustainable real capitalism in both regions and at the inter-regional level of EU-LAC relations.The volume concludes with an epilogue on financial crises, regionalism, and domestic adjustment by Loukas Tsoukalis, President of the Hellenic Foundation for European and Foreign Policy (ELIAMEP). Written by an international network of academics, practitioners and policy advisors, this volume will be of interest to researchers and students interested in macroeconomics, comparative regionalism, democracy, and financial crisis management as well as politicians, policy advisors, and members of national and regional organizations in the EU and Latin America.
Book Synopsis The European Economy Since 1945 by : Barry Eichengreen
Download or read book The European Economy Since 1945 written by Barry Eichengreen and published by Princeton University Press. This book was released on 2008-07-21 with total page 521 pages. Available in PDF, EPUB and Kindle. Book excerpt: However, this inheritance of economic and social institutions that was the solution until around 1973--when Europe had to switch from growth based on brute-force investment and the acquisition of known technologies to growth based on increased efficiency and innovation--then became the problem.
Book Synopsis Taxation and Unemployment by : Mr.Howell H. Zee
Download or read book Taxation and Unemployment written by Mr.Howell H. Zee and published by International Monetary Fund. This book was released on 1996-05-01 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews conceptual linkages between taxation and unemployment, available empirical evidence and country policies that may have a bearing on these linkages in the OECD and in a sample of developing and transitional economies, Fund policy advice on these issues, and tax policy options in addressing the unemployment problem. It concludes that the emphasis in policy should be placed on minimizing tax distortions, rather than on formulating activist tax policies to reduce unemployment.
Book Synopsis Revisiting the Economic Case for Fiscal Union in the Euro Area by : Mr.Helge Berger
Download or read book Revisiting the Economic Case for Fiscal Union in the Euro Area written by Mr.Helge Berger and published by International Monetary Fund. This book was released on 2018-02-20 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis The Refugee Surge in Europe by : Mr.Shekhar Aiyar
Download or read book The Refugee Surge in Europe written by Mr.Shekhar Aiyar and published by International Monetary Fund. This book was released on 2016-01-19 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Against the background of political turmoil in the Middle-East, Europe faces an unprecedented surge in asylum applications. In analyzing the economic impact of this inflow, this paper draws from the experience of previous economic migrants and refugees, mindful of the fact that the characteristics of economic migrants can be different from refugees. In the short-run, additional public expenditure will provide a small positive impact on GDP, concentrated in the main destination countries of Germany, Sweden and Austria. Over the longer-term, depending on the speed and success of the integration of refugees in the labor market, the increase in the labor force can have a more lasting impact on growth and the public finances. Here good policies will make an important difference. These include lowering barriers to labor markets for refugees, for example through wage subsidies to employers, and, in particular, reducing legal barriers to labor market participation during asylum process, removing obstacles to entrepreneurship/self-employment, providing job training and job search assistance, as well as language skills. While native workers often have legitimate concerns about the impact of immigrants on wages and employment, past experience indicates that any adverse effects are limited and temporary.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1498344658 Total Pages :257 pages Book Rating :4.4/5 (983 download)
Book Synopsis Fiscal Policy and Long-Term Growth by : International Monetary Fund
Download or read book Fiscal Policy and Long-Term Growth written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-04-20 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.
Book Synopsis Managing the Sovereign-Bank Nexus by : Mr.Giovanni Dell'Ariccia
Download or read book Managing the Sovereign-Bank Nexus written by Mr.Giovanni Dell'Ariccia and published by International Monetary Fund. This book was released on 2018-09-07 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews empirical and theoretical work on the links between banks and their governments (the bank-sovereign nexus). How significant is this nexus? What do we know about it? To what extent is it a source of concern? What is the role of policy intervention? The paper concludes with a review of recent policy proposals.
Book Synopsis The LIME Assessment Framework (LAF) by :
Download or read book The LIME Assessment Framework (LAF) written by and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Economic Crisis in Europe by : Paul van den Noord
Download or read book Economic Crisis in Europe written by Paul van den Noord and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The European economy is emerging from its deepest recession since the 1930s. This volume, which brings together economic analysis from the European Commission services, explains how swift policy response avoided a financial meltdown. Europe also needs an improved co-ordinated crisis-management framework to help it respond to any similar situations that may arise in the future. Economic Crisis in Europe is a much-anticipated volume which shows that the beginnings of such a crisis-management framework are emerging, building on existing institutions and legislation and complemented by new initiatives.
Book Synopsis Economic Governance in Europe by : Federico Fabbrini
Download or read book Economic Governance in Europe written by Federico Fabbrini and published by Oxford University Press. This book was released on 2016-01-29 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Euro-Crisis and the legal and institutional responses to it have had important constitutional implications on the architecture of the European Union (EU). Going beyond the existing literature, Federico Fabbrini's book takes a broad look and examines how the crisis and its aftermath have changed relations of power in the EU, disaggregating three different dimensions: (1) the vertical relations of power between the member states and the EU institutions, (2) the relations of power between the political branches and the courts, and (3) the horizontal relations of power between the EU member states themselves. The first part of the book argues that, in the aftermath of the Euro-crisis, power has been shifting along each of these axes in paradoxical ways. In particular, through a comparison of the United States, Fabbrini reveals that the EU is nowadays characterized by a high degree of centralization in budgetary affairs, an unprecedented level of judicialization of economic questions, and a growing imbalance between the member states in the governance of fiscal matters. As the book makes clear, however, each of these dynamics is a cause for concern - as it calls into question important constitutional values for the EU, such as the autonomy of the member states in taking decision about taxing and spending, the preeminence of the political process in settling economic matters, and the balance between state power and state equality. The second part of the book, therefore, devises possible options for future legal and institutional developments in the EU which may revert these paradoxical trends. In particular, Fabbrini considers the ideas of raising a fiscal capacitiy, restoring the centrality of the EU legislative process, and reforming the EU executive power, and discusses the challenges that accompany any further step towards a deeper Economic and Monetary Union.
