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Inflation Shadow Prices And The Emu
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Book Synopsis Inflation, Shadow Prices and the Emu by : Efthymios G. Tsionas
Download or read book Inflation, Shadow Prices and the Emu written by Efthymios G. Tsionas and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper examines whether inflation systematically distorts the informational content of price signals. A shadow cost function is specified, and the deviation of shadow from actual prices is modeled as a function of the level of economy-wide inflation, as well as other conditioning variables like budget deficits and changes in inflation rate. It is found that inflation is associated with significant allocative costs in most Greek manufacturing sectors. Measures of cost gains resulting from Greece's convergence towards the EMU are provided and the policy implications are explored.
Book Synopsis Growth and Inflation Dispersions in EMU by : Emil Stavrev
Download or read book Growth and Inflation Dispersions in EMU written by Emil Stavrev and published by International Monetary Fund. This book was released on 2007-07 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper's analysis of growth and inflation dispersions in the euro area reveals several findings. First, these dispersions have declined appreciably since EMU; remaining dispersions are small but persistent, relating mainly to country-specific shocks, not differences in the transmission of common shocks. Second, the different behavior of interest rates just before and after the introduction of the euro has contributed significantly to growth dispersions. However, this has been a one-off shock whose effects, particularly on construction, should be declining over time. Third, financial sector integration could do much more to insure countries against shocks and increase consumption smoothing.
Book Synopsis Policy Reform, Shadow Prices, and Market Prices by : International Monetary Fund
Download or read book Policy Reform, Shadow Prices, and Market Prices written by International Monetary Fund and published by International Monetary Fund. This book was released on 1988-10-18 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: How should possible policy reforms and projects be assessed when prices give misleading signals? Revenues and costs at market prices then give distorted measures of social gains and losses and our appraisal should use social opportunity costs, or correctly defined, shadow prices. We show how shadow prices may be integrated into an analysis of tax and price reform, demonstrate the critical dependence of these prices on government policy, and analyze their relations with market prices. A conceptual framework for applied analysis is provided plus a detailed theoretical account of policy in a model with some fixed prices, rationing, and taxation.
Book Synopsis The Economic and Business Consequences of the EMU by : Hubert Ooghe
Download or read book The Economic and Business Consequences of the EMU written by Hubert Ooghe and published by Springer Science & Business Media. This book was released on 2000-09-30 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: To make a first assessment after about a year's experience with economic and monetary union; 2. To examine the impact of EMU and the introduction of the Euro in various areas of economic policy, involving both government and the corporate sector including the banking industry; 3. To provide an insight into the challenges that the Euro offers for the coming years with respect both to macro-economic policy and the development of the financial markets and with respect to business management.
Book Synopsis Is There Scope for Inflation Differentials in EMU? by : Enrique Alberola Ila
Download or read book Is There Scope for Inflation Differentials in EMU? written by Enrique Alberola Ila and published by . This book was released on 1998 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tiivistelmä: Onko talous- ja rahaliitossa tilaa inflaatioeroille? : Balassa-Samuelsonin mallin sovellus EMU-maihin.
Book Synopsis Implications of EMU for Exchange Rate Policy in Central and Eastern Europe by : Mr.George Kopits
Download or read book Implications of EMU for Exchange Rate Policy in Central and Eastern Europe written by Mr.George Kopits and published by International Monetary Fund. This book was released on 1999-01-01 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: In view of the requirements of Stage 2 of European Monetary Union (EMU) for accession to the European Union, this paper examines the desirability for, and the ability of, the lead candidates in Central and Eastern Europe to participate in the new exchange rate mechanism (ERM2) and eventually in EMU. For most of these countries the benefits are likely to outweigh the cost of participation. After successfully meeting the basic conditions (wage flexibility, prudent fiscal and monetary stance, financial system soundness) for ERM2, each candidate should be able to shadow the euro, with sufficient flexibility around the central rate, prior to formal participation. The paper concludes with a discussion of two policy dilemmas.
Book Synopsis Inflation Convergence During the Transition to EMU by : Paul de Grauwe
Download or read book Inflation Convergence During the Transition to EMU written by Paul de Grauwe and published by . This book was released on 1992 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis From Convergence to Crisis by : Alison Johnston
Download or read book From Convergence to Crisis written by Alison Johnston and published by Cornell University Press. This book was released on 2016-05-19 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: What explains Eurozone member-states' divergent exposure to Europe’s sovereign debt crisis? Deviating from current fiscal and financial views, From Convergence to Crisis focuses on labor markets in a narrative that distinguishes the winners from the losers in the euro crisis. Alison Johnston argues that Europe’s monetary union was structured in a way that advantaged the corporatist labor markets of its northern economies in external trade and financial lending. Northern Europe’s distinct economic advantage lay not with its fiscal capabilities, which were not that different from those of southern Eurozone countries, but with its wage-setting institutions. Through highly coordinated collective bargaining, the euro North persistently undercut the inflation performance of southern trading partners, destining them to a perpetual cycle of competitive decline and external borrowing. While northern Europe’s corporatist labor markets were always low inflation performers, monetary union ultimately made their wage-setting institutions toxic for the South. The euro’s institutional predecessor, the European Monetary System, included economic and institutional mechanisms that facilitated macroeconomic adjustment and convergence between the common currency’s corporatist and noncorporatist economies. Combining cross-national statistical analysis with detailed qualitative case studies of Denmark, Germany, Italy, Ireland, the Netherlands, and Spain, Johnston reveals that monetary union’s removal of these mechanisms allowed external imbalances between these two blocs to grow unchecked, underpinning the crisis in which Europe currently finds itself. Rather than achieving the EU’s goal of an ever-closer union, the common currency produced a monetary environment that destabilized the economic integration of its diverse labor markets.
Book Synopsis Adjustment in EMU by : Sven Langedijk
Download or read book Adjustment in EMU written by Sven Langedijk and published by . This book was released on 2007 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recoge: 1. Introduction. - 2. Stylised developments. - 3. Analysing the characteristics of adjustment in EMU. - 4. Country dynamics. - 5.A possible adjustment scenario for Spain and Germany. - Concluding Remarks. - Appendix: A two-country-Three-Sector DSGE model.
Book Synopsis Transitional Phases Towards EMU by : Luca Antonio Ricci
Download or read book Transitional Phases Towards EMU written by Luca Antonio Ricci and published by . This book was released on 1992 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book EMU One Year on written by OECD and published by OECD Publishing. This book was released on 2000-03-29 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study assesses economic developments and policies during the inaugural year of Europe's single currency regime. It analyses the economic performance and prospects of the euro area as a whole, and highlights to what extent aggregate trends are shaped by convergence or divergence.
Book Synopsis Price Setting and Inflation Persistence by : Ignazio Angeloni
Download or read book Price Setting and Inflation Persistence written by Ignazio Angeloni and published by . This book was released on 2006 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis EMU Enlargement, Inflation and Adjustment of Tradable Goods Prices by : Philipp Maier
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:
Book Synopsis Betting for and Against EMU by : Leila S Talani
Download or read book Betting for and Against EMU written by Leila S Talani and published by Routledge. This book was released on 2017-11-01 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title was first published in 2000: An analysis of the extent to which the outcomes of the process of European monetary integration and, particularly, of the development of the debate over the establishment of EMU, have been influenced by domestic politics and by domestic economic interest groups in Italy and in the United Kingdom. From an empirical point of view, the work provides an account of the development of Italian and British socio-economic interest groups towards the issue of European monetary union from the making of the EMS until the establishment of EMU.
Book Synopsis Relevance of currency risk in the EMU by : Giorgio De Santis
Download or read book Relevance of currency risk in the EMU written by Giorgio De Santis and published by . This book was released on 1999 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Evaluating the EMS and EMU Using Stochastic Simulations by : Mr.Paul R. Masson
Download or read book Evaluating the EMS and EMU Using Stochastic Simulations written by Mr.Paul R. Masson and published by International Monetary Fund. This book was released on 1993-03-01 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Evaluations of European monetary integration using model simulations have given conflicting results, and the paper attempts to elucidate the reasons for the differences. Several features stand out: how to model realignments; how monetary policy is set for individual countries or for Europe; and how large are risk premium shocks in exchange markets. We quantify the effects of different assumptions relating to these features using MULTIMOD.
Book Synopsis Dimensions of Competitiveness by : Paul De Grauwe
Download or read book Dimensions of Competitiveness written by Paul De Grauwe and published by MIT Press. This book was released on 2010-07-23 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading economists analyze the multiple factors that drive competitiveness among nations in world markets. Competitiveness among nations is often approached as if it were a sports competition: some countries win medals, others lose out. This view of countries fighting it out in the economic arena is especially popular in business circles and among politicians. Economists, however, take a very different approach to international economic relations, arguing that international trade leads not to winners and losers but to win-win situations in which all countries profit. In this volume, leading economists take on the sometimes-derided concept of competitiveness, demonstrating the value of systematic analysis in an area too often dominated by special interest groups who use (and abuse) the concept to advance hidden agendas. The chapters range from broad theoretical views to case studies, examining the multiple factors that drive competitiveness. Contributors consider the conceptual framework underlying the World Economic Forum's approach to competitiveness; differences in per capita GDP between the United States and the European Union; an integrated approach to measuring competitiveness and comparative advantage; divergent trends in price and cost competitiveness in the euro area; methodological issues in constructing competitiveness indicators; taxation and international competitiveness; and a case study of Mexico's competitiveness in world markets in comparison to China's. Contributors Harry P. Bowen, Michele Ca' Zorzi, Jean-Philippe Cotis, Romain Duval, Christoph Fischer, Michael S. Knoll, Inmaculada Martinez-Zarzoso, Wim Moesen, Felicitas Nowak-Lehmann, Xavier Sala-i-Martin, Bernd Schnatz, Alain de Serres, Eckhard Siggel, Sebastian Vollmer
