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Monetary And Financial Policy In The Euro Area
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Book Synopsis Monetary Policy in Times of Crisis by : Massimo Rostagno
Download or read book Monetary Policy in Times of Crisis written by Massimo Rostagno and published by Oxford University Press. This book was released on 2021 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first twenty years of the European Central Bank offer a unique insight into how a central bank can navigate macroeconomic insecurity and crisis. This volume examines the structures and decision-making processes behind the complex measures taken by the ECB to tackle some of the toughest economic challenges in the history of modern Europe.
Book Synopsis Monetary and Fiscal Policies in the Euro Area by : Michael Carlberg
Download or read book Monetary and Fiscal Policies in the Euro Area written by Michael Carlberg and published by Springer Science & Business Media. This book was released on 2006-03-14 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book studies the interactions between monetary and fiscal poUcies in the euro area. It carefully discusses the process of policy competition and the structure of policy cooperation. As to policy competition, the focus is on competition between the European central bank, the American central bank, the German government, and the French government. As to policy cooperation, the focus is on the same institutions. These are higher-dimensional issues. The pohcy targets are price stability and full employment. The policy makers follow co- turkey or gradualist strategies. The policy decisions are taken sequentially or simultaneously. Monetary and fiscal policies have spillover effects. Special features of this book are numerical simulations of policy competition and numerical solutions to policy cooperation. The present book is part of a larger research project on European Monetary Union, see the references at the back of the book. Some parts of this project were presented at the World Congress of the International Economic Association. Other parts were presented at the International Conference on Macroeconomic Analysis, at the International Institute of Public Finance, at the Macro Study Group of the German Economic Association, at the Annual Meeting of the Austrian Economic Association, at the Gottingen Workshop on International Economics, at the Halle Workshop on Monetary Economics, at the Research Seminar on Macroeconomics in Freiburg, and at the Passau Workshop on International Economics.
Book Synopsis Fragmentation and Monetary Policy in the Euro Area by : Mr.Ali J Al-Eyd
Download or read book Fragmentation and Monetary Policy in the Euro Area written by Mr.Ali J Al-Eyd and published by International Monetary Fund. This book was released on 2013-10-04 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ECB has taken a range of actions to address bank funding problems, eliminate excessive risk in sovereign markets, and safeguard monetary transmission. But euro area financial markets have remained fragmented, driving retail interest rates in stressed markets far above those in the core. This has impeded the flow of credit and undermined the transmission of monetary policy. Analysis presented here indicates that the credit channel of monetary policy has broken down during the crisis, particularly in stressed markets, and that SMEs in these economies appear to be most affected by elevated lending rates.Given these stresses, the ECB can undertake additional targeted policy measures, including through additional term loans, collateral policies, and private asset purchases.
Book Synopsis Monetary and Financial Policy in the Euro Area by : Maximilian Fandl
Download or read book Monetary and Financial Policy in the Euro Area written by Maximilian Fandl and published by Springer. This book was released on 2018-05-31 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook provides a comprehensive overview of monetary policy, banking supervision and financial stability in the euro area. The author uses his professional experience in central banking to provide a thorough understanding of European economics and to explore how the monetary and financial system functions. The book takes into account the profound changes that resulted from crisis developments in recent years, such as the implementation of quantitative easing or the establishment of the Single Supervisory Mechanism (SSM). The author also invites readers to develop their thoughts on alternative policies to shape the monetary and financial system of the future. The textbook is tailor-made for intermediate courses in economics but will also appeal to those preparing a career in central banking or financial regulation.
Download or read book The Concrete Euro written by Paul Mercier and published by OUP Oxford. This book was released on 2014-10-02 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: The euro area's framework for monetary policy implementation was introduced in 1999. Eleven years on, this volume examines the theoretical and historical underpinnings of the framework, how it has fared in practice, and what challenges it is likely to face in the future. The technology serving the implementation of monetary policy has historically been the exclusive preserve of a narrow group of specialists but the recent global financial crisis brought the issue into the public eye, as the supply of base money exploded while inflation risked turning into deflation. This book addresses all the aspects of monetary policy implementation, with particular emphasis on the European Central Bank and the euro, allowing a more informed assessment of a neglected, but important, aspect of economic life, and a better understanding of the exceptional developments brought about by the financial crisis. Written by the leading money market operators at the European Central Bank who were involved in creating and implementing the framework, and who are still managing monetary policy implementation at the Bank today, this book provides a rare insider account of how the framework has evolved, how it works in practice, and the challenges of monetary policy implementation going forward.
Book Synopsis How Loose, How Tight? A Measure of Monetary and Fiscal Stance for the Euro Area by : Nicoletta Batini
Download or read book How Loose, How Tight? A Measure of Monetary and Fiscal Stance for the Euro Area written by Nicoletta Batini and published by International Monetary Fund. This book was released on 2020-06-05 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper builds a model-based dynamic monetary and fiscal conditions index (DMFCI) and uses it to examine the evolution of the joint stance of monetary and fiscal policies in the euro area (EA) and in its three largest member countries over the period 2007-2018. The index is based on the relative impacts of monetary and fiscal policy on demand using actual and simulated data from rich estimated models featuring also financial intermediaries and long-term government debt. The analysis highlights a short-lived fiscal expansion in the aftermath of the Global Financial Crisis, followed by a quick tightening, with monetary policy left to be the “only game in town” after 2013. Individual countries’ DMFCIs show that national policy stances did not always mirror the evolution of the aggregate stance at the EA level, due to heterogeneity in the fiscal stance.
Book Synopsis Monetary Policy Transmission in the Euro Area by : Ignazio Angeloni
Download or read book Monetary Policy Transmission in the Euro Area written by Ignazio Angeloni and published by Cambridge University Press. This book was released on 2003-12-04 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: A systematic analysis of the impact of European Central Bank monetary policy on Eurozone national economies, first published in 2003.
Book Synopsis The Mechanics of a Strong Euro Area by : Ms.Petya Koeva Brooks
Download or read book The Mechanics of a Strong Euro Area written by Ms.Petya Koeva Brooks and published by International Monetary Fund. This book was released on 2015-10-21 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: Among member states, many structural weaknesses were exposed when economic performance declined significantly and financial markets became more discerning. This book focuses on the analytical underpinnings of real-time policy advice given to euro area policymakers during four cycles of the IMF’s annual Article IV consultations (2012–15) with euro area authorities.
Author :International Monetary Fund Publisher :INTERNATIONAL MONETARY FUND ISBN 13 :9781451812862 Total Pages :47 pages Book Rating :4.8/5 (128 download)
Book Synopsis Monetary and Exchange Rate Policies of the Euro Area by : International Monetary Fund
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 2000-04-03 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economic conditions in the euro area have brightened. Executive Directors commended the policy stance of the European Central Bank. They noted that the exchange rate developments of the euro failed to strengthen the euro area economy, and stressed the need for fiscal discipline, structural reforms, and wage moderation at the national level to maintain price stability in the medium term. They emphasized the need for deeper integration of European Union financial markets, development of risk capital, and improvement of the quality and sustainability of public finances.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1451812981 Total Pages :120 pages Book Rating :4.4/5 (518 download)
Book Synopsis Monetary and Exchange Rate Policies of the Euro Area by : International Monetary Fund
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 :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1484369270 Total Pages :86 pages Book Rating :4.4/5 (843 download)
Book Synopsis Euro Area Policies by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Euro Area Policies written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2018-07-19 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: Overall the resilience of large euro area banks has improved, but important vulnerabilities remain. Capital buffers are in aggregate sizeable relative to immediate threats, but some banks are especially vulnerable to credit risk and others to market risks, including a substantial rise in risk premia. The banking system as a whole has ample liquidity, against a backdrop of ECB support. At a structural level, low profitability is found in many banks across all business models, despite improving conjunctural conditions. The interconnectedness analysis shows that strong buffers are effective in dampening both vulnerabilities and onward transmission. Risks to financial stability relate mainly to tighter financial conditions, weaker growth, and policy and geopolitical uncertainties. The withdrawal of the United Kingdom from the EU (Brexit) could potentially disrupt financial market and services, and thus the wider economy. Also, policy reversals could hurt debt sustainability and test the cohesion of policy making in the union.
Book Synopsis The Euro and the Crisis by : Nazaré da Costa Cabral
Download or read book The Euro and the Crisis written by Nazaré da Costa Cabral and published by Springer. This book was released on 2016-11-30 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyzes the effects of the recent crisis and evaluates potential solutions to the gridlock that is currently dominating the Eurozone and the European Union, concerning both the monetary policy and the budgetary and fiscal policy. The timely study highlights the main challenges that European political leaders will face in the months to come. Furthermore, its interdisciplinary approach embraces economic, financial and legal perspectives, so as to ensure the global coherence and comprehensiveness of its content. The contributors to this volume are prominent experts from the areas of Economics, Finance, Law, and Political Science, offering readers a multifaceted view of the topics discussed.
Book Synopsis Monetary Policy Transmission in the Euro Area by : Ignazio Angeloni
Download or read book Monetary Policy Transmission in the Euro Area written by Ignazio Angeloni and published by Cambridge University Press. This book was released on 2003-12-04 with total page 515 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2003 book offers the most systematic analysis available of the impact of European Central Bank monetary policy on the national economies of the Eurozone. Analysing macro and micro-economic evidence, with chapters by central bank economists, including a discussion chapter by eminent macroeconomists, it is an essential contribution to research on the subject.
Book Synopsis Fragmentation and Monetary Policy in the Euro Area by : Mr.Ali J Al-Eyd
Download or read book Fragmentation and Monetary Policy in the Euro Area written by Mr.Ali J Al-Eyd and published by International Monetary Fund. This book was released on 2013-10-04 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ECB has taken a range of actions to address bank funding problems, eliminate excessive risk in sovereign markets, and safeguard monetary transmission. But euro area financial markets have remained fragmented, driving retail interest rates in stressed markets far above those in the core. This has impeded the flow of credit and undermined the transmission of monetary policy. Analysis presented here indicates that the credit channel of monetary policy has broken down during the crisis, particularly in stressed markets, and that SMEs in these economies appear to be most affected by elevated lending rates.Given these stresses, the ECB can undertake additional targeted policy measures, including through additional term loans, collateral policies, and private asset purchases.
Author :International Monetary Fund. European Dept. Publisher :International Monetary Fund ISBN 13 : Total Pages :18 pages Book Rating :4.4/5 (2 download)
Book Synopsis Euro Area Policies by : International Monetary Fund. European Dept.
Download or read book Euro Area Policies written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2023-07-19 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: Euro Area Policies: Selected Issues
Book Synopsis Monetary and Fiscal Policies in the Euro-Area by : W. Semmler
Download or read book Monetary and Fiscal Policies in the Euro-Area written by W. Semmler and published by Elsevier. This book was released on 2005-05-06 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: The emergence of a macro economy in Euro-Asia is a challenge for academics and policy makers. This book focuses on this macro economy and the monetary and fiscal policy responses. It explores monetary policies allowing for uncertainty and time-varying behaviour of economic agents in markets.
Book Synopsis EU Law of Economic & Monetary Union by : Fabian Amtenbrink
Download or read book EU Law of Economic & Monetary Union written by Fabian Amtenbrink and published by Oxford University Press. This book was released on 2020-05-21 with total page 1808 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presenting a sweeping analysis of the legal foundations, institutions, and substantive legal issues in EU monetary integration, The EU Law of Economic and Monetary Union serves as an authoritative reference on the legal framework of European economic and monetary union. The book opens by setting out the broader contexts for the European project - historical, economic, political, and regarding the international framework. It goes on to examine the constitutional architecture of EMU; the main institutions and their legal powers; the core legal provisions of monetary and economic union; and the relationship of EMU with EU financial market and banking regulation. The concluding section analyses the current EMU crisis and the main avenues of future reform.
