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Asymmetric Monetary Transmission In Europe
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Book Synopsis Asymmetric Monetary Transmission in Europe by : Volker Clausen
Download or read book Asymmetric Monetary Transmission in Europe written by Volker Clausen and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: The euro and the ESCB have started in January 1999 and there is naturally a wide-ranging interest in academia and among policymakers in OECD coun tries, how successful European Monetary Union will and can be. EMU has started with 11 countries and experienced a rapid depreciation of the cur rency. With so many EU countries joining for a historical monetary union in a period of economic globalization, international financial market changes and ongoing EU enlargement the problem of monetary policy efficiency becomes crucial; especially as so many countries in the EU still have high unemploy ment rates and the euro has just started at the beginning of a cyclical upswing in the euro zone. Monetary policy is also quite crucial, because the Maastricht convergence criteria severely restrict the scope of national fiscal policy. With a very limited stock of valuable European monetary experience which could be usefully exploited by the ECB and the ESCB respectively, one naturally will appreciate advanced economic modeling of the main issues. This book takes an analytical look at the problem of asymmetric monetary transmission in Euroland. Facing the ECB's monetary policy, individual mem ber countries are likely to experience different policy effects. Countries differ in their financial structure -a well-known argument in the literature -but also in the characteristics of goods and labor markets. The latter fields have been somewhat neglected in the literature but receive broad analytical attention here.
Book Synopsis Monetary Transmission in Europe by : Jan Kakes
Download or read book Monetary Transmission in Europe written by Jan Kakes and published by Edward Elgar Publishing. This book was released on 2000-01-01 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work focuses on different aspects of the monetary transmission process, looking at both large and small economies in the EMU. The results offer useful evaluation tools with regard to monetary policy transmission in a European perspective.
Book Synopsis Financial Structure and Monetary Transmission in Europe by : Gabe J. De Bondt
Download or read book Financial Structure and Monetary Transmission in Europe written by Gabe J. De Bondt and published by Edward Elgar Publishing. This book was released on 2000-01-01 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'I can fully recommend this book to those interested in the transmission process of monetary policy.' - Harry Garretsen, De Economist Due to financial market imperfections it is imperative to analyse the relationship between financial structure and the monetary policy transmission process in Europe to effectively design and implement European monetary policy. Focusing on the years 1980-1995 and providing empirical evidence for six European countries, namely Germany, France, Italy, the UK, Belgium and the Netherlands, the author discusses whether cross-country variations in financial structure have a systematic relationship with inter-country differences in the monetary transmission process. The analysis of this is invaluable as differences in financial structures across EMU countries may hamper the implementation of a common European monetary policy in the future. The conclusion is that some elements of the financial structure are clearly relevant and applicable for European monetary policy and the monetary transmission process in particular.
Book Synopsis Differences in the Monetary Policy Transmission Mechanism within the European Monetary Union: Germany and Italy by : Wilhelm Fohr
Download or read book Differences in the Monetary Policy Transmission Mechanism within the European Monetary Union: Germany and Italy written by Wilhelm Fohr and published by GRIN Verlag. This book was released on 2007-01-07 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2005 in the subject Economics - Monetary theory and policy, grade: 1,3, Berlin School of Economics, language: English, abstract: The European Central Bank1is in charge to conduct monetary policy for a growing number of nations, participating in the European Monetary Union. This joint enterprise is still young, but followed decades of increasing cooperation and integration after the Second World War. However, the question remains how suitable a shared monetary policy is for a number of different economies. Today, most central banks put emphasis on price stability as medium-term goal, for this is the best way to stabilise expectations and to promote sustainable growth. A precondition for the successful conduct of monetary policy is that monetary impulses are transmitted throughout the whole currency area in a symmetric way. Therefore, central banks need to assess the timing and magnitude how interest rate movements affect the economy and through which channels this mechanism works. This allows the central bank to use their policy instruments at the right time and with the right intensity. Information about the characteristics of the monetary transmission process in EMU-countries, especially about national differences, has important lessons for the effective conduct of monetary policy. Consequently, asymmetric monetary transmission would be able to weaken the position of the European Central Bank and has a negative impact on the economy. This paper deals with the question of asymmetric transmission in the Euro-area. It involves information about the characteristics of transmission channels in EMU countries, the different stages of transmission where asymmetry or convergence might occur and the perspectives for the future development of the European transmission mechanisms. The objective is to find out about asymmetries in monetary policy transmission and their consequences. This paper answers the question if there are major drawbacks for participating economies possible or if the Euro will catalyse European integration without negative side effects.
Book Synopsis Asymmetric Monetary Transmission in EMU by :
Download or read book Asymmetric Monetary Transmission in EMU written by and published by . This book was released on 2003 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Regional Aspects of Monetary Policy in Europe by : Jürgen von Hagen
Download or read book Regional Aspects of Monetary Policy in Europe written by Jürgen von Hagen and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetary union has dawned in Europe. Now that the common currency is a reality, questions concerning the practical conduct of monetary policy in the European Monetary Union (EMU) are moving to the forefront of the policy debate. Among these, one of the most critical is how the new monetary union will cope with the large heterogeneity of its member economies. Given the large differences in economic and financial structures among the EMU member states, monetary policy is likely to affect different member economies in different ways. Regional Aspects of Monetary Policy in Europe collects the proceedings of an international conference held at the Center for European Integration Studies of the University of Bonn, dedicated to this issue. The contributions to this conference fall into two parts. The first part consists of empirical and theoretical studies of the regional effects of monetary policy in heterogeneous monetary unions. The second part consists of papers analyzing the political economy of monetary policy in a monetary union of heterogeneous regions or member states. The papers all support the conclusion that regional differences in the responses to a common monetary policy will make European monetary policy especially difficult in the years to come. Such differences arise from a variety of sources, and they cannot be expected to be mere teething troubles that will disappear after a while. Even if they were ignored in the run-up to the EMU, Europe's central bankers and economic policy makers will have to learn how to cope with such differences in the future.
Book Synopsis Will a Common European Monetary Policy Have Asymmetric Effects? by : Luigi Guiso
Download or read book Will a Common European Monetary Policy Have Asymmetric Effects? written by Luigi Guiso and published by . This book was released on 2000 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Credit and Asymmetric Effects of Monetary Policy in Six EU Countries by : G. J. de Bondt
Download or read book Credit and Asymmetric Effects of Monetary Policy in Six EU Countries written by G. J. de Bondt and published by . This book was released on 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis European Monetary Integration by : Hans-Werner Sinn
Download or read book European Monetary Integration written by Hans-Werner Sinn and published by MIT Press. This book was released on 2004 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: The contributors to this text, all economists and scholars, combine theoretical analysis and policy recommendation in their examination of the difficulties of European monetary integration.
Book Synopsis The Asymmetric Effects of a Common Monetary Policy in Europe by : Guglielmo Maria Caporale
Download or read book The Asymmetric Effects of a Common Monetary Policy in Europe written by Guglielmo Maria Caporale and published by . This book was released on 2005 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Asymmetric Crisis in Europe and Possible Futures by : Johannes Jäger
Download or read book Asymmetric Crisis in Europe and Possible Futures written by Johannes Jäger and published by Routledge. This book was released on 2015-04-10 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: The crisis in Europe is often discussed as a crisis of European integration or a crisis of national economies within Europe. Both the ‘methodological Europeanism’ and ‘methodological nationalism’ miss out the important links between economic and political processes at different spatial scales within Europe, and therefore, asymmetries and phenomena of uneven development. In addition, a discussion of possible scenarios which systematically addresses the implications of anti-crisis policies is missing. This volume seeks to close this gap by systematically integrating the analysis of economic policy or ‘technical’ solutions to the crisis within a broader framework of political economy. It argues that combining critical political economy approaches and post-Keynesian perspectives allows for a systematic understanding of the economic and political dimensions of the crisis. Although both approaches have the capacity to deal with asymmetries and uneven development, the heterogeneity in Europe has been an often largely neglected dimension of analysis. However, this recent crisis has shown that this is an essential dimension which has to be addressed in order to better understand the dynamics of European development and integration. Hence, this book aims to deal with asymmetries in Europe and to bridge the gap between the two perspectives. This work will initiate an integrative debate that is crucial for a deeper understanding of the current crisis and is an important resource for all students and scholars of IPE, European political economy and European politics.
Book Synopsis Credit and Asymmetric Effects of Monetary Policy in Six EU Countries by : G. J. de Bondt
Download or read book Credit and Asymmetric Effects of Monetary Policy in Six EU Countries written by G. J. de Bondt and published by . This book was released on 1998 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Asymmetric Effect of Monetary Policy on European Financial Markets by : Anita Suurlaht
Download or read book The Asymmetric Effect of Monetary Policy on European Financial Markets written by Anita Suurlaht and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Asymmetric Adjustment of Commercial Bank Interest Rates in the Euro Area by : Harald Sander
Download or read book Asymmetric Adjustment of Commercial Bank Interest Rates in the Euro Area written by Harald Sander and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the monetary transmission mechanism within the Euro area and is providing new evidence on the financial market side of the monetary mechanism in Europe. In particular, we examine the pass-through of money market rates to commercial bank lending rates by allowing for the existence of and possible changes in a long-run equilibrium relationship between these two rates. Methodologically, this paper is based on the traditional pass-through literature by incorporating an error correction mechanism, which is obtained from cointegration analyses allowing for structural breaks and symmetric as well as for a variety of asymmetric adjustment mechanisms. While we are able to confirm some results of earlier pass-through studies regarding an asymmetric monetary transmission mechanism within the Euro area, our study provides new evidence in two areas: (1) Not only does the speed of adjustment differ across countries but (2) the nature of the adjustment process itself is heterogeneous across countries. Overall, this study provides an in-depth view into the differential workings of the financial markets across Europe.
Book Synopsis Monetary Transmissions Mechanism in the EU in Dependence of Legal Systems by :
Download or read book Monetary Transmissions Mechanism in the EU in Dependence of Legal Systems written by and published by . This book was released on 2001 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Exchange Rates And Global Financial Policies by : Paul De Grauwe
Download or read book Exchange Rates And Global Financial Policies written by Paul De Grauwe and published by World Scientific. This book was released on 2014-02-04 with total page 585 pages. Available in PDF, EPUB and Kindle. Book excerpt: Exchange Rates and Global Financial Policies brings together research and work done by world-class economist Paul De Grauwe over the past two decades. Drawing inspiration from behavioural finance literature, De Grauwe covers topics such as exchange rate economics, monetary integration (with particular attention on the Eurozone), and international macroeconomics.His work is categorised across three parts. The first part develops new theoretical and empirical approaches to exchange rate modelling. The second part features a collection of papers on the theory and empirical analysis of monetary unions. The final part contains criticism of mainstream macroeconomic models as well as proposed alternative modelling approaches.
Book Synopsis On the Asymmetric Impacts of a Common Monetary Policy in Europe by : Andrew Hughes Hallett
Download or read book On the Asymmetric Impacts of a Common Monetary Policy in Europe written by Andrew Hughes Hallett and published by . This book was released on 1998 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
