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Lessons For Emu From The History Of Monetary Unions
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Book Synopsis Lessons for EMU from the History of Monetary Unions by : Michael D. Bordo
Download or read book Lessons for EMU from the History of Monetary Unions written by Michael D. Bordo and published by . This book was released on 2000 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: The history of monetary unions is a relatively unexplored area in economics. Yet it should be able to provide guidance for Europe's venture into monetary union. In Readings 50, Michael Bordo and Lars Jonung discuss both the history and the lessons it may hold for EMU. Their paper is followed by six commentaries by other distinguished economists with a variety of viewpoints on monetary union. The book is introduced by Robert Mundell who pioneered the optimal currency area approach and who was awarded the Nobel Prize in economics in 1999.
Download or read book Monetary Unions written by Forrest Capie and published by Routledge. This book was released on 2003-09 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economic and Monetary Union (EMU) has prompted much discussion. This book stands back and considers the relevant theory or what lessons might be drawn from other unions that have been formed as well as looking at EMU directly.
Book Synopsis European Monetary Union by : M. Panic
Download or read book European Monetary Union written by M. Panic and published by Springer. This book was released on 1993-06-18 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an analysis of the classical gold standard (1880-1914) - the nearest historical equivalent to what EC countries are attempting to do - in order to examine critically these and other issues raised in the debate. Problems are highlighted that need to be solved before EMU becomes viable.
Book Synopsis The Future of EMU by : Michael D. Bordo
Download or read book The Future of EMU written by Michael D. Bordo and published by . This book was released on 1999 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The creation of EMU and the ECB has triggered a discussion of the future of EMU. Independent observers have pointed to a number of shortcomings or hazard areas' in the construction of EMU, such as the absence of a central lender of last resort function for EMU, the lack of a central authority supervising the financial systems of EMU, unclear and inconsistent policy guidelines for the ECB, the absence of central co-ordination of fiscal policies within EMU, unduly strict criteria for domestic debt and deficits, as set out in the Maastricht rules, in the face of asymmetric shocks, and Euroland as not an optimal' currency area. Do these 'flaws' represent major threats to the future of EMU? Or will they be successfully resolved by the European policy authorities, leading to a lasting and prosperous EMU? We provide answers to these questions by examining the historical record of monetary unions. We try to extract the key conditions for establishing and for maintaining monetary unions intact. Our main lesson from the history of monetary unions is that political factors will be the central determinants of the future of EMU. The 'economic' shortcomings of EMU will likely be overcome as long as political unity prevails within EMU.
Book Synopsis EMU and the International Monetary System by : Mr.Thomas Krueger
Download or read book EMU and the International Monetary System written by Mr.Thomas Krueger and published by International Monetary Fund. This book was released on 1997-09-10 with total page 580 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, edited by Paul R. Masson, Thomas Krueger, and Bart G. Turtelboom, contains the proceedings of the seminar held in Washington, D.C. on March 17-18, 1997, cosponsored by the IMF and Fondation Camille Gutt. Conference participants discussed implications of European Economic and Monetary Union (EMU) on exchange and financial markets, and consequently on the activities of market participants and private and official institutions. The five main themes of the seminar were the characteristics of the euro and its potential role as an international currency; EMU and international policy coordination; EMU and the relationship between the IMF and its EMU members; lessons of European monetary integration for the international monetary system; and the transitioin to EMU.
Download or read book Monetary Unions written by Forrest Capie and published by Psychology Press. This book was released on 2003 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economic and Monetary Union (EMU) has prompted much discussion. This book stands back and considers the relevant theory or what lessons might be drawn from other unions that have been formed as well as looking at EMU directly.
Book Synopsis An Introduction to the Law of Economic and Monetary Union by : Alberto Saravalle
Download or read book An Introduction to the Law of Economic and Monetary Union written by Alberto Saravalle and published by Edward Elgar Publishing. This book was released on 2021-03-26 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: This incisive book is an accessible guide to the laws and policies relating to economic and monetary union (EMU). Providing a rich, multidisciplinary analysis, it combines historical, legal and economic perspectives to offer a detailed understanding of how EMU has developed since its inception and how it works in practice today. This book will be a valuable reference for those teaching and studying advanced courses on EU law, as well as courses that cover the economic history of EU integration.
Book Synopsis European Monetary Union by : M. Panić
Download or read book European Monetary Union written by M. Panić and published by Palgrave Macmillan. This book was released on 1992-01-01 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Economics of Monetary Unions by : Juan E. Castañeda
Download or read book The Economics of Monetary Unions written by Juan E. Castañeda and published by Routledge. This book was released on 2020-03-16 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, a historical analysis of the precedents of the euro is examined within the context of the current issues affecting the Eurozone and the long-term effects of the institutional changes implemented since 2010. The book begins by placing the Eurozone challenges in the historical context of previous monetary unions, drawing on the experience of the gold standard. It then specifically focuses on the problems arising from the running of permanent trade imbalances within the Eurozone. The authors explore the advantages and disadvantages of being a member of the Eurozone and attempt to measure the optimality of a currency area by the calculation of an index on internal macroeconomic asymmetries. They address the proposals recently made in favour of a fiscal union in the Euro zone; including the economic and political feasibility of fiscal transfers in the Eurozone. The final two papers discuss whether the monetary union is in fact more than just that, and whether it will lead inevitably to some form of political union if it is to survive. With chapters by leading experts from both Europe and the UK, this book will appeal to students in Economics, Finance, Politics, EU integration and European studies; as well as academics and professional economists doing research in EU integration, the Euro zone, monetary history and monetary and banking unions in Europe, the UK and elsewhere.
Book Synopsis EMU - Fuse Or Split? by : Richard Roberts
Download or read book EMU - Fuse Or Split? written by Richard Roberts and published by . This book was released on 2010 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis From the Athenian Tetradrachm to the Euro by : Gérassimos Notaras
Download or read book From the Athenian Tetradrachm to the Euro written by Gérassimos Notaras and published by Routledge. This book was released on 2017-11-28 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the introduction of the euro much recent attention has been focused on the role of currencies and their national and international significance. Whilst much has been made of the euro's achievements in harmonising Europe's financial dealings, it is often forgotten that it is by no means the first pan-national currency to enter circulation. Indeed, as the various contributions to this volume make plain, the euro can in many ways be regarded as a step 'back to the future', that is, a further international currency in a long historical tradition that includes the Athenian tetradrachm, the Spanish peso and the French franc. Covering a timespan of some two and a half millennia, the contributions within this volume fall within four broad chronological sections, the first comprising three contributions that consider aspects of the European experience from classical antiquity until the high middle ages. The discussion then leaps forward chronologically to the modern age, given a focus by three contributions devoted to nineteenth-century European developments. These, in turn, are set within a wider spatial perspective by two essays that review, first, the classical gold standard, primarily in terms of peripheral economies' experience, and, second, the Bretton Woods system. Fourth, and lastly, the euro's origins and birth are explored in three further contributions. By taking such a long term view of supra-national currencies, this volume provides a unique perspective, not only to the introduction and development of the euro, and its predecessors, but also on the broader question of the relationship between trade and common currencies.
Book Synopsis The Endogeneity of Optimum Currency Area Criteria - Lessons from History for European Monetary Union (Emu). by : Francois Mann-Quirici
Download or read book The Endogeneity of Optimum Currency Area Criteria - Lessons from History for European Monetary Union (Emu). written by Francois Mann-Quirici and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is commonly argued that the successful stabilisation of asymmetric shocks in a monetary union requires, either flexible wages and/or labour mobility, absent inter-regional fiscal transfer payments. The current pattern of relative wage rigidity and labour inertia in Europe is thus viewed by many observers as a problematic factor in the successful functioning of the European common currency area. We investigate in the context of some historical case studies whether monetary integration can bring about a regime shift in the degree of labour market flexibility. Specifically, we employ econometric methods to test whether the onset of monetary union in the US and the Gold Standard in selected countries have rendered real wages more procyclical. Previously entitled: 'The Endogeneity of Optimum Currency Area Criteria in Historical Perspective - Some Lessons for European Monetary Union (EMU)' We find and qualify suggestive evidence from our empirical exercise that indeed a Lucas Critique argument applies so that monetary unions and credibly fixed exchange rate regimes in general might induce wages to carry the burden of macroeconomic adjustment in lieu of independent monetary policy and/or fiscal transfers. We argue that economic theory should borrow a leaf from the book of economic history and - rather than treating wage formation as exogenous - we consider the degree of real wage flexibility to depend upon the nature of the monetary policy regime. We conclude by relating our findings to the European Monetary Union (EMU).
Book Synopsis EMU 2.0: Drawing Lessons from the Crisis by : Theodoros Papaspyrou
Download or read book EMU 2.0: Drawing Lessons from the Crisis written by Theodoros Papaspyrou and published by LAP Lambert Academic Publishing. This book was released on 2015-09-14 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the analysis of the emergence and the management of the global and the sovereign debt crisis useful lessons can be drawn for the design of public policy at EU and national level. After some initial weaknesses in policy action, decisive initiatives by EU authorities, supported by significant progress to strengthen further economic and financial governance and reduce macroeconomic imbalances, succeeded in preserving the stability and integrity of the euro area. While the priority given by the EU policy action to financial stability was fully justified, it is also clear that robust economic growth is essential for durable financial stability and overall welfare. Policies enhancing both stability and growth are possible in EMU and some of them have started being implemented, while others are at an advance state of development. There is ample scope for national economic policies which, if well-designed and properly implemented, will enhance the growth potential of member countries. However, legacy problems such as the excessive government debt burden in some countries must be resolved.
Book Synopsis Before and Beyond EMU by : Patrick M. Crowley
Download or read book Before and Beyond EMU written by Patrick M. Crowley and published by Routledge. This book was released on 2002-07-25 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: The launch of the Euro has already had profound effects on both European economies and societies - but it is also of huge importance for the international community as a whole. This timely book, from a collection of key names in European Integration Studies, is an authoritative piece of work that is truly multi-disciplinary by nature.
Book Synopsis The Creation of the European Monetary Union (EMU) by : Ramona Kraft
Download or read book The Creation of the European Monetary Union (EMU) written by Ramona Kraft and published by GRIN Verlag. This book was released on 2007-09-26 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2006 in the subject Economics - Monetary theory and policy, grade: 1,4, Dublin City University (Business School), course: Course EU Politics, 14 entries in the bibliography, language: English, abstract: The creation of the European and Monetary Union (EMU) has been one of the most determined and successful projects carried out by the European Union (EU) - and it is still in progress since eleven EU-countries are, following the Maastricht treaty, legally required to join the Eurozone as soon as they meet the convergence criteria. The reasons for the creation of EMU have been widely discussed among scholars; some focus on the request for political integration that would resulted from an EMU, some claim that the EMU was established to promote growth and investment. The assignment will hence "discuss how the creation of EMU was both an economic and politically driven process". Chapter 1 outlines events and agreements which indirectly led to the EMU. Chapter 2 assesses the Delors Report and the Stability and Growth Pact (SGP) which affect EMU directly . Chapter 3 concludes by analysing the mentioned 30-year process leading to the EMU and gives a brief outlook. This approach has been chosen because it is essential to study the historical events leading to the Delors Report and finally the Treaty on European Union (TEU) in order to analyse the creation of EMU.
Book Synopsis Lessons from Italian Monetary Unification by : James Foreman-Peck
Download or read book Lessons from Italian Monetary Unification written by James Foreman-Peck and published by . This book was released on 2006 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Political Economy of Monetary Union by : Francesco Giordano
Download or read book The Political Economy of Monetary Union written by Francesco Giordano and published by Psychology Press. This book was released on 1998 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: 1.Introduction. - 2.Monetary union: to be or not to be?History, motivations and prospects. - 3.German unification and EMU: a lesson for the future?. - 4.Solving the deficit puzzle: why reducing government deficits is a prioritary. - 5.In Bundesbank clothes: issues on central bank independence.
