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Author : Philipp Maier
Publisher :
ISBN 13 :
Total Pages : 23 pages
Book Rating : 4.:/5 (254 download)
Download or read book EMU Enlargement, Inflation and Adjustment of Tradable Goods Prices written by Philipp Maier and published by . This book was released on 2004 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : José García Solanes
Publisher : Fundacion BBVA
ISBN 13 :
Total Pages : 71 pages
Book Rating : 4./5 ( download)
Download or read book Real Exchange Rate Appreciation in Central and Eastern European Countries written by José García Solanes and published by Fundacion BBVA. This book was released on 2008 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : R. Martin
Publisher : Springer
ISBN 13 : 0230235433
Total Pages : 221 pages
Book Rating : 4.2/5 (32 download)
Download or read book Real Convergence in Central, Eastern and South-Eastern Europe written by R. Martin and published by Springer. This book was released on 2009-02-27 with total page 221 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings together policymakers, high-level practitioners, academics, and experts from central banks and international institutions in order to review key policy challenges for convergence in the region of central, eastern and south-eastern Europe. Contributions focus especially on inflation, growth, migration and the balance of payments.
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 : 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 : William R. Melick
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.3/5 ( download)
Download or read book The Evolving Inflation Process written by William R. Melick and published by . This book was released on 2006 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews analytical work carried out by central banks that participated in the Autumn Meeting of Central Bank Economists on "The evolving inflation process" which the BIS hosted on 28-29 October 2005. The paper first discusses efforts to document the univariate statistical properties of inflation and how they have changed over the last decades. It then reviews studies of disaggregated or micro inflation data and evidence from surveys of firms concerning their pricing behaviour. Using this micro evidence as background, the paper also attempts to understand the proximate causes for any changes in the inflation process, such as disparities in the price behaviour of tradables and non-tradables or movements in energy prices. The paper then summarises central bank research on changes in the ultimate determinants of factors impinging on the inflation process, for example a changing monetary policy regime, increased globalisation or a legislative reform of the labour market.
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 : Marco Buti
Publisher : Oxford University Press
ISBN 13 : 9780198294771
Total Pages : 280 pages
Book Rating : 4.2/5 (947 download)
Download or read book Economic Policy in EMU written by Marco Buti and published by Oxford University Press. This book was released on 1998 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the advent of the third and final phase of European and Monetary Union (EMU), the debate over European monetary unification is at the top of the political and economic agenda. Much has been written over the past five years about whether EMU is justified given the various expected benefitsand prospective costs, but there has been little detailed material on how EMU will work and what the practical implications of it will be for Europe as a whole. Economic Policy in EMU is a comprehensive look at the mechanisms involved, likely effects on monetary and budgetary policy, and the ways in which monetary union will deal with and affect business cycles and regional differences. It combines rigorous analysis of how the European economy works withan insider view of how this will change after 1999: as such, it is vital reading for all involved in the most important topic facing Europe today.
Author : Jose De Gregorio
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (318 download)
Download or read book International Evidence on Tradables and Nontradables Inflation written by Jose De Gregorio and published by . This book was released on 1994 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mads Kieler
Publisher : International Monetary Fund
ISBN 13 : 1451851537
Total Pages : 51 pages
Book Rating : 4.4/5 (518 download)
Download or read book The ECB'S Inflation Objective written by Mads Kieler and published by International Monetary Fund. This book was released on 2003-04-01 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ECB's objective of medium-term inflation below 2 percent has been portrayed by critics as ambiguous, asymmetric, and excessively stringent. This paper attempts a comprehensive evaluation of the trade-offs for the euro area and finds that: (1) in terms of guiding inflation expectations and policymaking, the current definition has functioned much as would an inflation target centered on 1 1/2-1 3/4 percent; (2) the absence of a specific (point) target for medium-term inflation has encumbered the communication of monetary policy; and (3) a target toward the upper end of the ECB's price-stability range would seem, at least with the current membership of EMU, to strike a judicious balance between the benefits of price stability, on the one hand, and the need to assist relative price and wage adjustment across EMU and safeguard against deflation, on the other hand.
Author :
Publisher : CEPS
ISBN 13 : 9789290794431
Total Pages : 116 pages
Book Rating : 4.7/5 (944 download)
Download or read book Adjusting to Leaner Times written by and published by CEPS. This book was released on 2003 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This is the fifth in a series of annual reports produced by the CEPS Macroeconomic Policy Group (MPG), composed of distinguished economists from throughout Europe who have undertaken to carry out independent, in-depth research on current developments in the European economy. This year's report documents the ongoing slowdown in productivity growth in Euroland and concludes that it cannot be cured by an expansionary fiscal policy. On the contrary, governments should concentrate on pension reform and cuts in age-related entitlements, in view of their rapidly ageing populations. The group broadly welcomes the strategic review underway at the European Central Bank, but the ECB should look more at financial structures than at money supply numbers. The report also advocates the creation of a Mr Euro."--CEPS website.
Author : Marek Dabrowski
Publisher : Springer Science & Business Media
ISBN 13 : 0387257667
Total Pages : 239 pages
Book Rating : 4.3/5 (872 download)
Download or read book The Eastern Enlargement of the Eurozone written by Marek Dabrowski and published by Springer Science & Business Media. This book was released on 2006-07-01 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Eastern Enlargement of the EU will not be complete until the new member states join the EMU. Economic and political economy arguments point to fast EMU accession of new member states. Failure to do so will create a two speed Europe, a fundamental change in the economic and political architecture of the EU, adding to the strains already evident between core and peripheral countries. Current high level of trade and business cycle integration of new member states with the Eurozone, decreases the probability of asymmetric shocks. Lower transaction costs, elimination of exchange rate risk and the danger of currency crises, further trade and investment creation, lower interest rates and large fiscal gains, should outweigh the loss of the exchange rate as adjustment tool. The Eastern Enlargement of the Eurozone provides comprehensive economic analysis of theoretical, empirical and political issues that will determine whether EMU enlargement is a success, which has implications for all common currency systems.
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451812981
Total Pages : 120 pages
Book Rating : 4.4/5 (518 download)
Download or read book Monetary and Exchange Rate Policies of the Euro Area written by International Monetary Fund and published by International Monetary Fund. This book was released on 2002-10-29 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines monetary and exchange rate policies of the euro area. The paper reviews the European Central Bank’s definition of price stability, and examines the factors determining “the optimal rate of inflation” in the euro area. It reviews the benefits of price stability, including the reduction in the distortions of savings and investment behavior that stem from the interaction between nominal tax systems and inflation. It then goes on to evaluate arguments for maintaining a small positive inflation rate in the context of the euro area.
Author : Servaas Deroose
Publisher :
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4.3/5 ( download)
Download or read book Reviewing Adjustment Dynamics in EMU written by Servaas Deroose and published by . This book was released on 2004 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Lavan Mahadeva
Publisher : Routledge
ISBN 13 : 1135126631
Total Pages : 692 pages
Book Rating : 4.1/5 (351 download)
Download or read book Monetary Policy Frameworks in a Global Context written by Lavan Mahadeva and published by Routledge. This book was released on 2012-11-12 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: This broad-ranging collection assesses the links between targets and central bank independence, accountability and the transparency of monetary policy. Renowned experts contribute to this original and comprehensive text which will be of great value to professional economists and students of economics and banking alike. Monetary Policy Frameworks in a Global Context was named Book of the Year, 2000 by Central Banking journal
Author : Ben Slay
Publisher : Routledge
ISBN 13 : 1351162586
Total Pages : 394 pages
Book Rating : 4.3/5 (511 download)
Download or read book Beyond Transition written by Ben Slay and published by Routledge. This book was released on 2017-11-30 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: The post-communist Central European and Baltic economies are now approaching the end of their transitions to well-functioning market systems. In some respects, the approaching EU accession and conclusion of the transition marks the end of a fascinating period in economic history. Beyond Transition focuses on the economic problems and issues facing Central Europe and the Baltics, the Balkans, and countries belonging to the Commonwealth for Independent States (CIS) in the post-transition context. This focus reflects the need to better understand two processes that are increasingly apparent in the post-communist economic space. First, many of the problems now facing policy makers in post-communist economies - choice of exchange rate regime, tax reform, labour market regulation, improving corporate governance - also face policy makers in developed and developing countries in other parts of the world. Second, the EU's eastern enlargement and the policy agendas facing the first wave accession candidates have major implications for the CIS and Balkan countries that have not been (and may never be) invited to join this process.
Author : Richard E. Baldwin
Publisher : Centre for Economic Policy Research
ISBN 13 : 9781898128564
Total Pages : 166 pages
Book Rating : 4.1/5 (285 download)
Download or read book Nice Try written by Richard E. Baldwin and published by Centre for Economic Policy Research. This book was released on 2001 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt: EU member nations must decide whether to ratify the Nice Treaty. This report, written to inform these decisions, is highly critical of the Treaty but argues that it should be passed since it is 'repairable' and rejecting it would delay Eastern enlargement. It proposes two 'emergency repairs' to the Treaty. The authors marshal the best available empirical evidence and analytic techniques to show that the Treaty fails to meet its goal of adjusting EU decision-making to the realities of a Union with 27& members. Far from maintaining the EU's ability to act after enlargement, the authors argue that the Nice reforms reduce EU27 decision-making efficiency below what it would have been with no reform. Unless the Treaty is mended, future integration will be guided by intergovernmental initiatives in which large members play a large role due to their economic dominance. The Treaty also fails to resolve the ECB's 'numbers problem' - enlargement without reform would also damage the ECB's decision-making capacity. The Treaty does include an 'enabling clause' to help solve this problem: the report analyses the possible solutions and proposes specific reforms.
