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Author : John Harold Rogers
Publisher :
ISBN 13 :
Total Pages : 58 pages
Book Rating : 4.3/5 (121 download)
Download or read book Monetary Union, Price Level Convergence, and Inflation written by John Harold Rogers and published by . This book was released on 2002 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Paul de Grauwe
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.X/5 (2 download)
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:
Author : Michael Carlberg
Publisher : Springer Science & Business Media
ISBN 13 : 3540247599
Total Pages : 303 pages
Book Rating : 4.5/5 (42 download)
Download or read book Inflation in a Monetary Union written by Michael Carlberg and published by Springer Science & Business Media. This book was released on 2012-11-07 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book studies the causes and cures of inflation in a monetary union. It carefully discusses the effects of money growth and output growth on inflation. The focus is on producer inflation, currency depreciation and consumer inflation. For instance, what determines the rate of consumer inflation in Europe, and what in America? Moreover, what determines the rate of consumer inflation in Germany, and what in France? Further topics are real depreciation, nominal and real interest rates, the growth of nominal wages, the growth of producer real wages, and the growth of consumer real wages. Here productivity growth and labour growth play significant roles. Another important issue is target inflation and required money growth. A special feature of this book is the numerical estimation of shock and policy multipliers.
Author : John H. Rogers
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (523 download)
Download or read book Price Level Convergence and Inflation in Europe written by John H. Rogers and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : John H. Rogers
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (318 download)
Download or read book Price Level Convergence, Relative Prices, and Inflation in Europe written by John H. Rogers and published by . This book was released on 2001 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: "If price levels are initially different across the euro area, convergence to a common level of prices would imply that inflation will be higher in countries where prices are initially low. Price level convergence thus provides a potential explanation for recent cross-country differences in European inflation, a worrisome development under the ECBs "one-size-fits-all" monetary policy. I present direct evidence on price level convergence in Europe, using a unique data set, and then investigate how much of the recent divergence of national inflation rates can be explained by price level convergence. I show that between 1990 and 1999 prices did become less dispersed in the euro area. Convergence is especially evident for traded goods, and more in the first half of the 1990s than the second half. By some measures, traded goods price dispersion across the euro area is now close to that across U.S. cities. Despite an on-going process of convergence, deviations from the law of one price are large. Finally, I find a statistically-significant and robust negative relationship between the 1999 price level and 2000 inflation rate in Europe, and that the contribution of price level convergence to explaining inflation differentials is often quite important economically. Still, factors other than price convergence explain most of the cross-country inflation differences."
Author : Francisco Torres
Publisher : Cambridge University Press
ISBN 13 : 052144019X
Total Pages : 406 pages
Book Rating : 4.5/5 (214 download)
Download or read book Adjustment and Growth in the European Monetary Union written by Francisco Torres and published by Cambridge University Press. This book was released on 1993-10-21 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Maastricht Treaty, signed in December 1991, set a timetable for the European Community's economic and monetary union (EMU) and clearly defined the institutional policy changes necessary for its achievement. Subsequent developments have demonstrated, however, the importance of many key issues in the transition to EMU that were largely neglected at the time. This volume reports the proceedings of a joint CEPR conference with the Banco de Portugal, held in January 1992. In these papers, leading international experts address the instability of the transition to EMU, the long-run implications of monetary union and the single market for growth and convergence in Europe. They also consider the prospects for inflation and fiscal convergence, regional policy and the integration of financial markets and fiscal systems. Attention focuses on adjustment mechanisms with differentiated shocks, region-specific business cycles and excessive industrial concentration and the cases for a two-speed EMU and fiscal federalism.
Author : Johannes M. Groeneveld
Publisher : Edward Elgar Publishing
ISBN 13 :
Total Pages : 282 pages
Book Rating : 4.3/5 (91 download)
Download or read book Inflation Patterns and Monetary Policy written by Johannes M. Groeneveld and published by Edward Elgar Publishing. This book was released on 1998 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: In light of the European Monetary Union, which is expected soon to charge the European Central Bank with responsibility for controlling inflation in the region, the chief economist at De Nederlandsche Bank in Amsterdam analyzes technical, empirical, and international monetary policy considerations relevant to the Bank in choosing an appropriate monetary strategy for achieving price stability. Drawing data from several industrialized countries, he finds a remarkable convergence in inflation profiles over the past few decades, but almost no convergence in other economic factors. He concludes that monetary targeting would be the most effective approach. Annotation copyrighted by Book News, Inc., Portland, OR
Author : Mr.Jeffrey R. Franks
Publisher : International Monetary Fund
ISBN 13 : 1484338499
Total Pages : 47 pages
Book Rating : 4.4/5 (843 download)
Download or read book Economic Convergence in the Euro Area: Coming Together or Drifting Apart? written by Mr.Jeffrey R. Franks and published by International Monetary Fund. This book was released on 2018-01-23 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine economic convergence among euro area countries on multiple dimensions. While there was nominal convergence of inflation and interest rates, real convergence of per capita income levels has not occurred among the original euro area members since the advent of the common currency. Income convergence stagnated in the early years of the common currency and has reversed in the wake of the global economic crisis. New euro area members, in contrast, have seen real income convergence. Business cycles became more synchronized, but the amplitude of those cycles diverged. Financial cycles showed a similar pattern: sychronizing more over time, but with divergent amplitudes. Income convergence requires reforms boosting productivity growth in lagging countries, while cyclical and financial convergence can be enhanced by measures to improve national and euro area fiscal policies, together with steps to deepen the single market.
Author : Leon Podkaminer
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Real Convergence and Price Levels written by Leon Podkaminer and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A cross-country regression relating the relative price level to the relative GDP level is statistically significant and stable over time. Price and GDP levels for EU member countries tend to gravitate to that line. The conclusion that there is a shorter-term trade-off between fast real convergence and low inflation is unwarranted. Higher inflation is not a necessary companion of fast convergence. Giving up national currency, or pegging it to the euro, may prevent real convergence or precipitate divergence. A weak initial price level may be insufficient. While retaining national currency is not risk-free, it allows a corrective devaluation.
Author : Michael Emerson
Publisher :
ISBN 13 : 9780198773245
Total Pages : 356 pages
Book Rating : 4.7/5 (732 download)
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.
Author : Balázs Égert
Publisher :
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4.:/5 (227 download)
Download or read book Real Convergence, Price Level Convergence and Inflation Differentials in Europe written by Balázs Égert and published by . This book was released on 2007 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Tomás Holub
Publisher : INTERNATIONAL MONETARY FUND
ISBN 13 : 9781451854725
Total Pages : 0 pages
Book Rating : 4.8/5 (547 download)
Download or read book Convergence of Relative Prices and Inflation in Central and Eastern Europe written by Mr.Tomás Holub and published by INTERNATIONAL MONETARY FUND. This book was released on 2001-09-01 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper assesses inflation risks resulting from the convergence of structures of relative prices in Central and Eastern European (CEE) countries toward the European Union (EU). The basic idea of the paper is that under low downward flexibility of domestic nominal prices, the adjustment of relative price structures is likely to lead to higher inflation. The authors find that the degree of differences in the structures of relative prices in transition economies vis-à-vis EU economies has a strong negative relationship to price levels in the transition economies. Based on their calculations, the authors assess the likely future inflationary pressures that can stem from the remaining differences between the structures of relative prices in the CEE economies and the EU. The authors argue that their approach can be thought of as an extension of the standard Balassa-Samuelson explanation of international variability in price levels.
Author : George K. Zestos
Publisher : South Western Educational Publishing
ISBN 13 :
Total Pages : 296 pages
Book Rating : 4.3/5 (91 download)
Download or read book European Monetary Integration written by George K. Zestos and published by South Western Educational Publishing. This book was released on 2006 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: This shorter text provides a complete overview of European economic and monetary integrationand investigates the euro's impact on Europe and the rest of the global economy. It takes anintuitive approach to explaining the complicated issues regarding the formation of the EMUand the introduction of the euro.
Author : Rolf Caesar
Publisher :
ISBN 13 :
Total Pages : 350 pages
Book Rating : 4.3/5 ( download)
Download or read book European Economic and Monetary Union written by Rolf Caesar and published by . This book was released on 2002 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Michaela Bruckner
Publisher : GRIN Verlag
ISBN 13 : 3638829502
Total Pages : 21 pages
Book Rating : 4.6/5 (388 download)
Download or read book The Eastern enlargement of the currency union: Challenges for the ECB's monetary policy written by Michaela Bruckner and published by GRIN Verlag. This book was released on 2007-07-22 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2007 in the subject Business economics - Economic Policy, grade: 2,0, University of Hohenheim (Lehrstuhl für Außenwirtschaft), course: International Institutions, language: English, abstract: The eurozone member countries have agreed to permanently abandon economic policy instruments such as monetary and exchange rate policies and to accept the European Central Bank (ECB) as the decision making body to determine the common monetary policy, notably the interest rates and the money supply. It goes without saying that such an institution is not able to fine-tune its decisions in order to meet particular economic challenges in certain member countries. In this respect, the eastward enlargement of the European Monetary Union (EMU) will bring major challenges to the ECB, as varying inflation rates in different member countries and the determination of a single interest rate may have disruptive consequences. From the viewpoint of the eastward enlargement of the eurozone the paper illustrates the various challenges the ECB inevitably has to face. Further, it describes the reform of the ECB Governing Council. An important question concerning the ECB is the following: Is there a danger for the single European monetary policy from letting Central and Eastern European Countries (CEEC) join the eurozone or from letting them join the eurozone too early?
Author : Alexander K. Swoboda
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.3/5 (512 download)
Download or read book The Road to European Monetary Union written by Alexander K. Swoboda and published by . This book was released on 1991 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Reiner Martin
Publisher : Palgrave MacMillan
ISBN 13 :
Total Pages : 232 pages
Book Rating : 4.3/5 (91 download)
Download or read book Real Convergence in Central, Eastern and South-Eastern Europe written by Reiner Martin and published by Palgrave MacMillan. This book was released on 2009-02-27 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Real convergence has gained substantial momentum in central, eastern and south-eastern Europe. Countries in these regions are all involved in the European integration process, either as recently joined EU member states, candidate countries, or potential candidates for membership. It has therefore become increasingly important to consider methods of catching up, to explore cross-country differences and to review key policy challenges for the convergence process. Through considering these issues in detail, prospects for future adoption of the euro can also be assessed. This book brings together policymakers, high-level practitioners, academics, and experts from central banks and international institutions in order to explore the key policy challenges facing the convergence process. Contributions focus especially on inflation, growth, migration and the balance of payments. This book is an essential read for all scholars interested in the transition of central, eastern and south-eastern Europe, and in the process of EU integration and enlargement."--Book cover.
