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Implications Of Emu For Global Macroeconomic And Financial Stability
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Book Synopsis Implications of EMU for Global Macroeconomic and Financial Stability by : Björn Döhring
Download or read book Implications of EMU for Global Macroeconomic and Financial Stability written by Björn Döhring and published by . This book was released on 2008 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses the implications of EMU for world macroeconomic and financial stability. After reviewing the predictions made by the literature, it looks at the evidence of the first ten years of EMU. In so doing, it distinguishes the effect of EMU from global factors at work since the 1980s, often referred to as zthe Great Moderationy. The paper concludes that EMU is on the whole having a stabilising effect on the world economy, particularly in neighbouring countries. By helping to stabilise interest rates, inflation and GDP growth in the euro area, EMU has contributed to greater stability of those variables in other advanced countries. There is also evidence that EMU is facilitating international risk sharing and consumption smoothing. Predictions that EMU would increase exchange rate volatility are, in general, not confirmed by the data. However, the amplitude of mediumterm exchange rate swings has increased for some currency pairs. Moreover, there is little evidence so far that EMU has facilitated international policy coordination, partly reflecting the still fragmented representation of the euro area in multilateral fora. -- EU Bookshop.
Book Synopsis Global Waves of Debt by : M. Ayhan Kose
Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Book Synopsis Implications of EMU for Global Macroeconomic and Financial Stability by : Björn Döhring
Download or read book Implications of EMU for Global Macroeconomic and Financial Stability written by Björn Döhring and published by . This book was released on 2006 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1616352477 Total Pages :94 pages Book Rating :4.6/5 (163 download)
Book Synopsis Global Financial Stability Report, April 2012 by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Global Financial Stability Report, April 2012 written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2012-04-18 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: The April 2012 Global Financial Stability Report assesses changes in risks to financial stability over the past six months, focusing on sovereign vulnerabilities, risks stemming from private sector deleveraging, and assessing the continued resilience of emerging markets. The report probes the implications of recent reforms in the financial system for market perception of safe assets, and investigates the growing public and private costs of increased longevity risk from aging populations.
Book Synopsis The EU Law of Economic and Monetary Union by : Fabian Amtenbrink
Download or read book The EU Law of Economic and Monetary Union written by Fabian Amtenbrink and published by Oxford University Press, USA. This book was released on 2020 with total page 1649 pages. Available in PDF, EPUB and Kindle. Book excerpt: An authoritative reference work on the legal framework of European economic and monetary union, this book comprehensively analyses the legal foundations, institutions, and substantive legal issues in EU monetary integration.
Book Synopsis The Global Financial Crisis by : Noah Berlatsky
Download or read book The Global Financial Crisis written by Noah Berlatsky and published by Greenhaven Publishing LLC. This book was released on 2010-01-15 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores possible causes of the global economic crisis, including lack of banking regulation, greed of financial institutions, decisions of the Federal Reserve, and the abandonment of the gold standard. Examines the differing impacts of the crisis on wealthy nations and developing nations, and why some nations are weathering the crisis better than others. Discusses potential solutions to the crisis, such as regulatory reform and lowering restrictions on trade.
Book Synopsis Fiscal Policy Rules by : Mr.George Kopits
Download or read book Fiscal Policy Rules written by Mr.George Kopits and published by International Monetary Fund. This book was released on 1998-07-22 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are fiscal policy rules? What are the principal benefits and drawbacks associated with various fiscal rules, particularly compared with alternative approaches to fiscal adjustment? Can fiscal rules contribute to long-run sustainability and welfare without sacrificing short-run stabilization? If so, what characteristics of fiscal rules make this contribution most effective? And in what circumstances and contexts, if any should the IMF encourage its member countries to adopt fiscal rules? This paper seeks to identify sensible fiscal policy rules that can succeed, if chosen by a member country, as an alternative to descretionary fiscal rules.
Book Synopsis The Euro Area Crisis by : Davide Furceri
Download or read book The Euro Area Crisis written by Davide Furceri and published by International Monetary Fund. This book was released on 2013-09-25 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this paper is to assess the effectiveness of risk sharing mechanisms in the euro area and whether a supranational fiscal risk sharing mechanism could insure countries against very severe downturns. Using an unbalanced panel of 15 euro area countries over the period 1979-2010, the results of the paper show that: (i) the effectiveness of risk sharing mechanisms in the euro area is significantly lower than in existing federations (such as the U.S. and Germany) and (ii) it falls sharply in severe downturns just when it is needed most; (iii) a supranational fiscal stabilization mechanism, financed by a relatively small contribution, would be able to fully insure euro area countries against very severe, persistent and unanticipated downturns.
Book Synopsis A Central Fiscal Stabilization Capacity for the Euro Area by : Mr.Nathaniel G Arnold
Download or read book A Central Fiscal Stabilization Capacity for the Euro Area written by Mr.Nathaniel G Arnold and published by International Monetary Fund. This book was released on 2018-03-26 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: This note outlines a concrete proposal for a euro area CFC that could help smooth both country-specific and common shocks. Specifically, it proposes a macroeconomic stabilization fund financed by annual contributions from countries used to build up assets in good times and make transfers to countries in bad times, as well as a borrowing capacity in case large or persistent shocks exhaust the fund’s assets. The note also discusses several features aimed at avoiding permanent transfers between countries and making the CFC function as automatically as possible—to limit the scope for disputes over its operation—both of which are important points to make it politically acceptable.
Book Synopsis Public Debt and Growth by : Jaejoon Woo
Download or read book Public Debt and Growth written by Jaejoon Woo and published by International Monetary Fund. This book was released on 2010-07-01 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores the impact of high public debt on long-run economic growth. The analysis, based on a panel of advanced and emerging economies over almost four decades, takes into account a broad range of determinants of growth as well as various estimation issues including reverse causality and endogeneity. In addition, threshold effects, nonlinearities, and differences between advanced and emerging market economies are examined. The empirical results suggest an inverse relationship between initial debt and subsequent growth, controlling for other determinants of growth: on average, a 10 percentage point increase in the initial debt-to-GDP ratio is associated with a slowdown in annual real per capita GDP growth of around 0.2 percentage points per year, with the impact being somewhat smaller in advanced economies. There is some evidence of nonlinearity with higher levels of initial debt having a proportionately larger negative effect on subsequent growth. Analysis of the components of growth suggests that the adverse effect largely reflects a slowdown in labor productivity growth mainly due to reduced investment and slower growth of capital stock.
Book Synopsis The Euro at Ten: The Next Global Currency by :
Download or read book The Euro at Ten: The Next Global Currency written by and published by Peterson Institute. This book was released on 2009 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis One Market, One Money by : Michael Emerson
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.
Book Synopsis Nordic Economic Policy Review 2020: Financial regulation and macroeconomic stability in the Nordics by : Calmfors, Lars
Download or read book Nordic Economic Policy Review 2020: Financial regulation and macroeconomic stability in the Nordics written by Calmfors, Lars and published by Nordic Council of Ministers. This book was released on 2020-06-15 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: How well designed are the financial regulations that have been imposed after the global financial crisis in 2008–09 and the subsequent euro crisis? Will the new bail-in rules work in a systemic crisis, or do we risk further costly bail-outs by governments? How does monetary policy influence household debt? Have macroprudential tools been well-calibrated? Answers to these questions are crucial for judging the risks that the current corona crisis might also trigger a new financial crisis. The 2020 issue of the Nordic Economic Policy Review consists of six papers, including an introduction by editors Lars Calmfors and Peter Englund.
Book Synopsis Promoting Global Monetary and Financial Stability by : Claudio Borio
Download or read book Promoting Global Monetary and Financial Stability written by Claudio Borio and published by Cambridge University Press. This book was released on 2020-04-30 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the global organisation of central banks, the Bank for International Settlements (BIS) has played a significant role in the momentous changes the international monetary and financial system has undergone over the past half century. This book offers a key contribution to understanding these changes. It explores the rise of the emerging market economies, the resulting shifts in the governance of the international financial system, and the role of central bank cooperation in this process. In this truly multidisciplinary effort, scholars from the fields of economics, history, political science and law unravel the most poignant episodes that marked this period, including European monetary unification, the paradigm shifts in economic and financial analysis, the origins and influence of macro-financial stability frameworks, the rise of soft law in international financial governance, central bank crisis management in the wake of the Great Financial Crisis, and, finally, the institutional evolution of the BIS itself.
Book Synopsis Critique of the New Consensus Macroeconomics and Implications for India by : Dilip M. Nachane
Download or read book Critique of the New Consensus Macroeconomics and Implications for India written by Dilip M. Nachane and published by Springer. This book was released on 2018-11-02 with total page 426 pages. Available in PDF, EPUB and Kindle. Book excerpt: The thought-provoking book presents alternative viewpoints to mainstream macroeconomic theory, questions conventional policy wisdom and suggests a systematic re-orientation of current macroeconomic and financial regulatory policies in India. The New Consensus Macroeconomics (NCM), which established itself in the 1980s as mainstream macroeconomics, essentially represents an “uneasy truce” between two dominant schools of economic thought viz. New Classical and Neo-Keynesian economics. The NCM sets the tone for much of the macroeconomic (especially monetary) policy followed by the advanced economies in the period of the Great Moderation (1990–2005). The recent global crisis has posed a major challenge to the NCM as empirical models based on the NCM failed to anticipate the occurrence of the crisis and later its extent and severity. The above considerations constitute the underpinnings of this book, which addresses the theoretical controversies within a general context and their policy implications for India. The authors’ analysis leads to a somewhat critical assessment of the financial sector policies followed in India since the initiation of reforms in 1991. This makes the book a valuable resource not only for researchers working in this area, but also for policy makers.
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 Economic Impact of Migration Flows Following the 2004 EU Enlargement Process by : Francesca D'Auria
Download or read book Economic Impact of Migration Flows Following the 2004 EU Enlargement Process written by Francesca D'Auria and published by . This book was released on 2008 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
