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Author : Alexandra Ferreira-Lopes
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (931 download)
Download or read book Business Cycles, Core and Periphery in Monetary Unions written by Alexandra Ferreira-Lopes and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ansgar Belke
Publisher :
ISBN 13 : 9783867887656
Total Pages : pages
Book Rating : 4.8/5 (876 download)
Download or read book Business Cycle Synchronization in the EMU: Core Vs. Periphery written by Ansgar Belke and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mark A. Wynne
Publisher :
ISBN 13 :
Total Pages : 35 pages
Book Rating : 4.:/5 (878 download)
Download or read book Business Cycles Under Monetary Union written by Mark A. Wynne and published by . This book was released on 1997 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mark A. Wynne
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Business Cycles Under Monetary Union written by Mark A. Wynne and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper documents business cycle similarities and differences among the 12 Federal Reserve districts in the USA and the 15 countries that make up the EU. The comparison is suggestive of what might be expected to emerge in the way of business cycle synchronization from a monetary union between the member states of the EU.
Author : Mr.Tamim Bayoumi
Publisher : International Monetary Fund
ISBN 13 : 1475586914
Total Pages : 26 pages
Book Rating : 4.4/5 (755 download)
Download or read book Aftershocks of Monetary Unification written by Mr.Tamim Bayoumi and published by International Monetary Fund. This book was released on 2017-03-13 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Once upon a time, in the 1990s, it was widely agreed that neither Europe nor the United States was an optimum currency area, although moderating this concern was the finding that it was possible to distinguish a regional core and periphery (Bayoumi and Eichengreen, 1993). Revisiting these issues, we find that the United States is remains closer to an optimum currency area than the Euro Area. More intriguingly, the Euro Area shows striking changes in correlations and responses which we interpret as reflecting hysteresis with a financial twist, in which the financial system causes aggregate supply and demand shocks to reinforce each other. An implication is that the Euro Area needs vigorous, coordinated regulation of its banking and financial systems by a single supervisor—that monetary union without banking union will not work.
Author : Michael J. Artis
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.F/5 ( download)
Download or read book Core and Periphery in EMU written by Michael J. Artis and published by . This book was released on 1998 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Jeffrey R. Franks
Publisher : International Monetary Fund
ISBN 13 : 1484338499
Total Pages : 47 pages
Book Rating : 4.4/5 (843 download)
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.
Author : Olivier Habimana
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Business Cycle Synchronicity Within ECOWAS written by Olivier Habimana and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the extent to which business cycles of 15 ECOWAS countries are synchronized; which is one of the indicators of an optimum currency area. We employ wavelet tools to compute business cycle similarities and the distance matrix. Wavelet-spectra clustering indicates that Gambia, Sierra Leone, Liberia, Mali (we give this group the acronym GSLIM) business cycles are dissimilar to the rest of the ECOWAS. These four countries count only three percent of total ECOWAS gross domestic product (GDP) and will very likely form the Eco-periphery within the West African Monetary Zone. The Eco-core group, however, is not very homogenous as it consists of three synchronized groups led, in terms of size, by Nigeria, Ghana and Burkina Faso respectively. Core-periphery patterns present a challenge to the success of a monetary union, because, if ECOWAS countries decide to launch the ECO and thus implement a common monetary policy, countries that form the periphery group may not optimally benefit from this monetary union. This challenge is however not insurmountable; ECO countries will need to put in place risk-sharing mechanisms that will help asynchronous countries to reduce the cost of giving up their monetary policy tools.
Author : Francisco Torres
Publisher : Cambridge University Press
ISBN 13 : 052144019X
Total Pages : 406 pages
Book Rating : 4.5/5 (214 download)
Download or read book Adjustment and Growth in the European Monetary Union written by Francisco Torres and published by Cambridge University Press. This book was released on 1993-10-21 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Maastricht Treaty, signed in December 1991, set a timetable for the European Community's economic and monetary union (EMU) and clearly defined the institutional policy changes necessary for its achievement. Subsequent developments have demonstrated, however, the importance of many key issues in the transition to EMU that were largely neglected at the time. This volume reports the proceedings of a joint CEPR conference with the Banco de Portugal, held in January 1992. In these papers, leading international experts address the instability of the transition to EMU, the long-run implications of monetary union and the single market for growth and convergence in Europe. They also consider the prospects for inflation and fiscal convergence, regional policy and the integration of financial markets and fiscal systems. Attention focuses on adjustment mechanisms with differentiated shocks, region-specific business cycles and excessive industrial concentration and the cases for a two-speed EMU and fiscal federalism.
Author : Rudy Weissenbacher
Publisher : Palgrave Macmillan
ISBN 13 : 9783030282134
Total Pages : 369 pages
Book Rating : 4.2/5 (821 download)
Download or read book The Core-Periphery Divide in the European Union written by Rudy Weissenbacher and published by Palgrave Macmillan. This book was released on 2021-02-13 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book revisits the forgotten history of the 'European Dependency School' in the 1970s and 1980s, explores core-periphery relations in the European integration process and the crises of the contemporary European Union from a dependency perspective, and draws lessons for alternative development paths. Was disintegration of the European Union foretold? With the benefit of hindsight, the critical analysis of the European integration process by researchers from the 'European Dependency School' is most timely. The current framework of the European Union seems to be haunted by issues that had been very familiar to the researchers of the 'European Dependency School', such as a lack of a common and balanced industrial policy. How do the situations compare? What lessons can be learnt for alternative development policies in contemporary Europe? Weissenbacher tackles these issues, which are of relevance to all interested in political economy, political science, development studies and regional development.
Author : Nikolaos Antonakakis
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Business Cycle Spillovers in the European Union written by Nikolaos Antonakakis and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine business cycle spillovers in the European Union over the period 1977-2014. The results of our analysis reveal that: (i) The total spillover indices are of high magnitude and very responsive to extreme economic events. (ii) The direction and magnitude of spillovers among group members (i.e. Eurozone core, Eurozone periphery, new Euro Area countries and non-European Monetary Union countries) is changing overtime. (iii) The widening of the European debt crisis can be explained by business cycle shocks in the whole Eurozone periphery. Thus, appropriate macroprudential stabilization policies aiming to steer peripheral economies towards growth should be formulated.
Author : Mr.Romain A Duval
Publisher : International Monetary Fund
ISBN 13 : 1475523599
Total Pages : 46 pages
Book Rating : 4.4/5 (755 download)
Download or read book Trade Integration and Business Cycle Synchronization written by Mr.Romain A Duval and published by International Monetary Fund. This book was released on 2014-04-03 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reexamines the relationship between trade integration and business cycle synchronization (BCS) using new value-added trade data for 63 advanced and emerging economies during 1995–2012. In a panel framework, we identify a strong positive impact of trade intensity on BCS—conditional on various controls, global common shocks and country-pair heterogeneity—that is absent when gross trade data are used. That effect is bigger in crisis times, pointing to trade as an important crisis propagation mechanism. Bilateral intra-industry trade and trade specialization correlation also appear to increase co-movement, indicating that not only the intensity but also the type of trade matters. Finally, we show that dependence on Chinese final demand in value-added terms amplifies the international spillovers and synchronizing impact of growth shocks in China.
Author : Stefano Battilossi
Publisher : Springer
ISBN 13 : 9789811305955
Total Pages : 0 pages
Book Rating : 4.3/5 (59 download)
Download or read book Handbook of the History of Money and Currency written by Stefano Battilossi and published by Springer. This book was released on 2020-03-13 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author : Paul R. Masson
Publisher : Cambridge University Press
ISBN 13 : 9780521434553
Total Pages : 340 pages
Book Rating : 4.4/5 (345 download)
Download or read book Policy Issues in the Operation of Currency Unions written by Paul R. Masson and published by Cambridge University Press. This book was released on 1993-09-23 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: An overview and the latest research on single currency areas in Europe, the US, and the former USSR.
Author : Michael Emerson
Publisher :
ISBN 13 : 9780198773245
Total Pages : 356 pages
Book Rating : 4.7/5 (732 download)
Download or read book One Market, One Money written by Michael Emerson and published by . This book was released on 1992 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author : Constantinos Ikonomou
Publisher : Academic Press
ISBN 13 : 0128145676
Total Pages : 338 pages
Book Rating : 4.1/5 (281 download)
Download or read book Funding the Greek Crisis written by Constantinos Ikonomou and published by Academic Press. This book was released on 2018-06-15 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: How does one distinguish between European Union investments that improve welfare and those that create economic malaise? Funding the Greek Crisis: The European Union, Cohesion Policies, and the Great Recession explores the sources of the Greek Crisis that lie primarily in EU policies that appeared to have worked better for other countries but not for Greece. Without overly simplifying the Greek condition, it provides insights into policies the countries of the euro area may need to implement in order to ensure collective cohesion and individual success. Arguing that EU preferences for autonomous investments discouraged organic development with lasting implications, Funding the Greek Crisis sheds new light on the nature of regional competitiveness and public economics. Encompasses public economics, macroeconomics, international trade, competitiveness, microeconomics and regional development studies Sheds light on key policies that affect millions of EU citizens Examines Solow’s growth model Provides a different way of explaining growth from real business cycle theory
Author : Mr.Paul R. Masson
Publisher : International Monetary Fund
ISBN 13 : 9781557751119
Total Pages : 438 pages
Book Rating : 4.7/5 (511 download)
Download or read book Macroeconomic Policies in an Interdependent World written by Mr.Paul R. Masson and published by International Monetary Fund. This book was released on 1989-06-15 with total page 438 pages. Available in PDF, EPUB and Kindle. Book excerpt: Copublished with the Brookings Institution, Washington D.C. and the Centre for Economic Policy Research, London, and edited by Ralph Bryant, David Currie, Jacob A. Frenkel, Paul Masson, and Richard Portes, this volume considers economic interdependence among well developed countries as well as between them and the developing regions of the world.
