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Author : Anssi Rantala
Publisher :
ISBN 13 : 9789521015151
Total Pages : 118 pages
Book Rating : 4.0/5 (151 download)
Download or read book Essays on the Macroeconomics of Monetary Union written by Anssi Rantala and published by . This book was released on 2004 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Abdullah Al-Hassan
Publisher :
ISBN 13 :
Total Pages : 140 pages
Book Rating : 4.:/5 (931 download)
Download or read book Essays in Empirical Macroeconomics written by Abdullah Al-Hassan and published by . This book was released on 2008 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : C.J.M Kool
Publisher : Springer Science & Business Media
ISBN 13 : 1461312639
Total Pages : 252 pages
Book Rating : 4.4/5 (613 download)
Download or read book Essays on Money, Banking, and Regulation written by C.J.M Kool and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essays on Money, Banking and Regulation honors the interests and achievements of the Dutch economist Conrad Oort. The book is divided into four parts. Part 1 - Fiscal and monetary policy - reviews a variety of topics ranging from the measurement of money to the control and management of government expenditures. Part 2 - International institutions and international economic policy - looks at the international dimension of monetary and fiscal policy, with extensive discussion of the International Monetary Fund and the European Monetary Union. Part 3 - The future of international banking and the financial sector in the Netherlands - is an insider's view of the strategic choices facing financial institutions in the near future. Finally, Part 4 - Taxation and reforms in the Dutch tax system - is closest to Oort's research and practice since he has become known as an architect of the 1990 Dutch tax reform; this part is dedicated in particular to the tax reforms suggested by Oort.
Author : Michael Carlberg
Publisher : Springer Science & Business Media
ISBN 13 : 3540736336
Total Pages : 285 pages
Book Rating : 4.5/5 (47 download)
Download or read book Macroeconomics of Monetary Union written by Michael Carlberg and published by Springer Science & Business Media. This book was released on 2007-07-24 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is what we’ve all been waiting for – a book that demystifies the European community’s monetary union. Unlike other books, this one provides readers with a practical yet sophisticated grasp of the macroeconomic principles necessary to understand a monetary union. The most important case in point is the Euro area, where policy targets are price stability and full employment. To illustrate all of this there are numerical simulations of monetary policy, fiscal policy, and wage policy.
Author : Anders Vredin
Publisher :
ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.:/5 (221 download)
Download or read book Macro Foundations of a European Monetary Union written by Anders Vredin and published by . This book was released on 1994 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Alan Arthur Walters
Publisher : Edward Elgar Publishing
ISBN 13 : 9781781957615
Total Pages : 386 pages
Book Rating : 4.9/5 (576 download)
Download or read book Money Matters written by Alan Arthur Walters and published by Edward Elgar Publishing. This book was released on 2004-01-01 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: As a tribute to the exceptional contributions of Alan Walters to monetary theory and policy, this book draws together a distinguished cast of international contributors to write about money. In a series of essays they review controversies in monetary economics and debate current policy issues. Combining theoretical analysis with policy evaluation, this book touches on a whole spectrum of issues ranging from monetary union and exchange rate regimes, to credit rationing and policy games. The book focuses on the problems of modeling the effects of monetary and fiscal policy, and setting optimal policies for the future. It concludes with two stimulating panel discussions, one questioning whether the UK should join the Euro and the other discussing the appropriate targets of monetary policy.
Author : Oscar Bajo-Rubio
Publisher : Springer Science & Business Media
ISBN 13 : 3642194451
Total Pages : 53 pages
Book Rating : 4.6/5 (421 download)
Download or read book Macroeconomic Analysis of Monetary Unions written by Oscar Bajo-Rubio and published by Springer Science & Business Media. This book was released on 2011-05-06 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book develops a general framework for the macroeconomic modeling of monetary unions. The starting point of the analysis is the standard two-country Mundell-Fleming model with perfect capital mobility, extended to incorporate the supply side in a context of rigid real wages, and modified so that the money market is common for two countries forming a monetary union. The model is presented in two versions: for a small and a large monetary union, respectively. After solving each model, the authors derive multipliers for monetary, expenditure, supply, and external shocks, both in the short and the long run; a graphical analysis is also provided. Special attention is paid to the crucial distinction between symmetric and asymmetric shocks.
Author : Laura Lebastard
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (12 download)
Download or read book Three Essays on Currency Union and Trade written by Laura Lebastard and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis studies international trade, monetary policy and international macroeconomics. Chapter 1 examines the different characteristics of different fixed exchange rate regimes and assesses the effects of each of these characteristics on international trade. It appears that price transparency and transaction costs linked to the currency changes do not have a significant effect on trade; only the credibility of the fixed exchange rate regime (due to the absence of devaluation possibilities) increases trade significantly. This explains why only monetary union increases trade between its members from the first years of the exchange rate regime. Chapter 2 looks at the effects of the euro on trade during the 2008-2009 financial crisis.It seems that the euro amortized the trade drop observed throughout the world, owing to the absence of exchange rate volatility among its members. Chapter 3 presents a theoretical model to study the transmission of shocks in a vertically specialized economy, and proposes an optimal monetary policy to stabilize the economy. The model promotes symmetrical monetary policies between the two countries sharing a production mode based on global value chains.
Author : Age F.P. Bakker
Publisher : Springer Science & Business Media
ISBN 13 : 9401723583
Total Pages : 390 pages
Book Rating : 4.4/5 (17 download)
Download or read book Monetary Stability through International Cooperation written by Age F.P. Bakker and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 390 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetary Stability through International Cooperation contains essays written by high ranking policy makers in the field of central banking and international finance, written in honour of André Szász, who has been Executive Director of De Nederlandsche Bank since 1973, responsible for international monetary relations. Colleagues from several other central banks, from finance ministries and from international institutions pay tribute to him by analysing the conditions fostering European as well as global monetary stability. The book provides an inside view of the thinking of monetary officials at the turn of 1993/1994, when the currency turmoil in the ERM of mid-1993 had subsided and views on its implications for exchange rate management and, more generally, for European integration were taking shape. Topics include exchange rate stabilisation, policy coordination and central bank independence. A second section, on the international monetary system, includes essays on the policy implications of present day dynamic financial markets as well as the role of the IMF. This book, written by `insiders for an insider', provides valuable insights to those who are interested in contemporary international monetary relations.
Author : Arthur M. Okun
Publisher : Brookings Institution Press
ISBN 13 : 9780815784852
Total Pages : 305 pages
Book Rating : 4.7/5 (848 download)
Download or read book Macroeconomics, Prices, and Quantities written by Arthur M. Okun and published by Brookings Institution Press. This book was released on 1983 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Peter B. Kenen
Publisher : Princeton University Press
ISBN 13 : 0691034087
Total Pages : 566 pages
Book Rating : 4.6/5 (91 download)
Download or read book Understanding Interdependence written by Peter B. Kenen and published by Princeton University Press. This book was released on 1995-06-04 with total page 566 pages. Available in PDF, EPUB and Kindle. Book excerpt: Surveying the current state of knowledge on the international monetary system, this volume contains essays on the behaviour of exchange rates, current account adjustment, international debt, European monetary union, capital mobility, the reform of former planned economies, and more.
Author : Alfred Steinherr
Publisher : Springer
ISBN 13 : 1349110612
Total Pages : 276 pages
Book Rating : 4.3/5 (491 download)
Download or read book Evolution of the International and Regional Monetary Systems written by Alfred Steinherr and published by Springer. This book was released on 1991-12-12 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: The papers in this book cover the wide range of Robert Triffin's expertise. For example, Jacques Larosire interprets the evolution of the international monetary system. Michel Aglietta critically appraises the international monetary system and suggests the present system is one that does not constrain domestic policy choices. The desirability, scope and means of policy co-ordination are analyzed in the contributions by James Tobin, Robert Solomon, John Williamson, Alexandre Lamfalussy and Wolfgang Rieke. Tommaso Padoa-Schioppa discusses the possible paths to European Monetary Union whilst Alfred Steinherr and Jacques Girard evaluate the past and future evolution of the ECU. Paul De Grauwe provides empirical answers to the highly debated question whether the EMS is a DM-zone.
Author : Jeremie Cohen-Setton
Publisher :
ISBN 13 :
Total Pages : 151 pages
Book Rating : 4.:/5 (994 download)
Download or read book Essays in Macroeconomic History and Policy written by Jeremie Cohen-Setton and published by . This book was released on 2016 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Making of a Monetary Union: Evidence from the U.S. Discount Market 1914-1935 The decentralized structure of the Federal Reserve gave regional Reserve banks a large degree of autonomy in setting discount rates. This created repeated and continued periods of non-uniform discount rates across the 12 Federal Reserve districts. Commercial banks did not take full advantage of these differentials, reflecting the effectiveness of qualitative restrictions on the use of discount window liquidity in limiting the geographical movement of funds. While the choice of regional autonomy over complete financial integration was reasonable given the characteristics of the U.S. monetary union in the interwar period, the Federal Reserve failed to use this autonomy to stabilize regional economic activity relative to the national average. The diagnosis that the costs of decentralization outweighed the gains from regional differentiation motivated reforms that standardized and centralized control of Reserve bank discount policies. Supply-Side Policies in the Depression: Evidence from France The effects of supply-side policies in depressed economies are controversial. We shed light on this debate using evidence from France in the 1930s. In 1936, France departed from the gold standard and implemented mandatory wage increases and hours restrictions. Deflation ended but output stagnated. We present time-series and cross-sectional evidence that these supply-side policies, in particular the 40-hour law, contributed to French stagflation. These results are inconsistent both with the standard one-sector new Keynesian model and with a medium scale, multi-sector model calibrated to match our cross-sectional estimates. We conclude that the new Keynesian model is a poor guide to the effects of supply-side shocks in depressed economies. Fiscal Policy in the Depression: Evidence from Digging Holes and Filling Them I use historical data on military spending on a strategic defense system - the Maginot Line - during the interwar period in France to estimate the effect of fiscal policy in a depressed economy. Planning for the construction of the defense system took place in the 1920s, while actual spending mostly occurred in the 1930s. Factors such as the natural local terrain, and the location of military threat generated variations in spending across space and time that were not related to current or expected levels of economic activity in these areas. I exploit these variations to estimate a local government spending multiplier that controls for aggregate shocks and aggregate policy, such as changes in distortionary taxes and aggregate monetary policy. I find a local multiplier of 1. Given the likely bias introduced by the use of fiscal data to proxy local economic activity and by the \textit{ad-hoc} assumptions made to reconstruct a precise geographical allocation of border fortification spending, I see my result as evidence that the true local government spending multiplier is at least equal to 1.
Author : Rohan Kekre
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (995 download)
Download or read book Essays on Macroeconomic Stabilization written by Rohan Kekre and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Motivated by policy debates emerging from the U.S. Great Recession and Eurozone crisis, I study the stabilization role of monetary, fiscal, and macroprudential policies in response to short-run fluctuations. In the first essay on "Unemployment Insurance in Macroeconomic Stabilization", I characterize the role of unemployment insurance (UI) generosity as a particular instrument of fiscal policy, and use my framework to quantitatively evaluate the employment and welfare effects of UI extensions in the U.S. over 2008-13. In the second essay on "Labor Market Frictions in a Monetary Union", I study stabilization trade-offs and optimal monetary policy in a monetary union where labor markets are frictional and heterogeneous across member states, with implications for the sustainability of the Euro and policy of the ECB. In the third essay on "Firm vs. Bank Leverage over the Business Cycle", I develop a general equilibrium model explaining the contrasting cyclical behavior of non-financial corporate and bank leverage in U.S. data, and study its implications for macroprudential regulation in banking. Methodologically, these essays share a focus on building theoretical models of closed and open economies to address policy-relevant questions in macroeconomics, drawing on additional ideas from related fields such as public economics and finance.
Author : David E. W. Laidler
Publisher : Cambridge, Mass. : MIT Press
ISBN 13 :
Total Pages : 248 pages
Book Rating : 4.:/5 (44 download)
Download or read book Taking Money Seriously and Other Essays written by David E. W. Laidler and published by Cambridge, Mass. : MIT Press. This book was released on 1990 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Putting the matters back into money matters is David Laidler's intent in this collection of ten essays on the role of monetary institutions in the development of monetary theory and the implications of these ideas for policy. Together, the essays provide a coherent and accessible introduction to the power and range of thinking by one of the world's leading monetary economists. In Taking Money Seriously Laidler seeks to develop and sustain monetarist ideas of the 1960s in relationship to the new classical economics and to argue their continued policy relevance. Money matters, he points out, because monetary exchange rather than the Walrasian market coordinates economic activity in the real world. Laidler's discussion of the costs of inflation points up the importance of money's means-of-exchange role and is followed by an extended critique of new classical economics. He devotes several chapters to policy issues, in which he asserts that the monetary system is a public good whose organization and control present inherently political problems. David Laidler is Professor of Economics at the University of Western Ontario.
Author : Constant Aimé Lonkeng Ngouana
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)
Download or read book Essays in Theoretical and Applied Macroeconomics written by Constant Aimé Lonkeng Ngouana and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Reinhard Neck
Publisher : Springer Science & Business Media
ISBN 13 : 3540746846
Total Pages : 386 pages
Book Rating : 4.5/5 (47 download)
Download or read book Quantitative Economic Policy written by Reinhard Neck and published by Springer Science & Business Media. This book was released on 2008-03-04 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: Econometric techniques and models are still being extensively used in the business of forecasting and policy advice. This book presents recent advances in the theory and applications of quantitative economic policy, with particular emphasis on fiscal and monetary policies in a European and global context. The volume honors Andrew Hughes Hallett, a pioneer and major scientist in quantitative economic policy analysis, whose contributors are among his friends and former students.
