Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
The Maastricht Inflation Criterion
Download The Maastricht Inflation Criterion full books in PDF, epub, and Kindle. Read online The Maastricht Inflation Criterion ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Book Synopsis The Maastricht Inflation Criterion by : Jaromír Hurník
Download or read book The Maastricht Inflation Criterion written by Jaromír Hurník and published by International Monetary Fund. This book was released on 2006-06-01 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Maastricht inflation criterion, designed in the early 1990s to bring "high-inflation" EU countries in line with "low-inflation" countries prior to the introduction of the euro, poses challenges for both new EU member countries and the European Central Bank. While the criterion has positively influenced the public stance toward low inflation, it has biased the choice of the disinflation strategy toward short-run, fiat measures-rather than adopting structural reforms with longer-term benefits-with unpleasant consequences for the efficiency of the eurozone transmission mechanism. The criterion is also unnecessarily tight for new member countries as it mainly reflects cyclical developments.
Book Synopsis The Maastricht Inflation Criterion by : John Lewis
Download or read book The Maastricht Inflation Criterion written by John Lewis and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to the Maastricht Treaty, a country seeking to join the European Monetary Union cannot have an inflation rate in excess of 1.5 per cent plus the average inflation rates in the three 'best performing' EU countries. This inflation reference value is a non-increasing function of the number of EU members. A counterfactual analysis of historical data shows that the effect of enlarging the EU from 15 to 27 countries was sizeable in 2002-04 and again from 2007. Monte Carlo simulations suggest that the enlargement of the EU from 15 to 27 members reduces the inflation reference value by 0.15-0.2 percentage points on average, but there is a considerable probability of a larger reduction at any given moment of time. The treatment of countries with negative inflation rates in the calculation of the reference value has a major impact on the results.
Book Synopsis The Maastricht Inflation Criterion by : John Lewis
Download or read book The Maastricht Inflation Criterion written by John Lewis and published by . This book was released on 2007 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Maastricht Inflation Criterion by : Aleš Bulíř
Download or read book The Maastricht Inflation Criterion written by Aleš Bulíř and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Maastricht inflation criterion, designed in the early 1990s to bring high-inflation EU countries in line with low-inflation countries prior to the introduction of the euro, poses challenges for both new EU member countries and the European Central Bank. While the criterion has positively influenced the public stance toward low inflation, it has biased the choice of the disinflation strategy toward short-run, fiat measures - rather than adopting structural reforms with longer-term benefits - with unpleasant consequences for the efficiency of the eurozone transmission mechanism. The criterion is also unnecessarily tight for new member countries as it mainly reflects cyclical developments.
Book Synopsis The Maastricht Inflation Criterion and the New EU Members from Central and Eastern Europe by : Karsten Stæhr
Download or read book The Maastricht Inflation Criterion and the New EU Members from Central and Eastern Europe written by Karsten Stæhr and published by . This book was released on 2008 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Monetary Union and the Maastricht Inflation Criterion by : F. Gulcin Ozkan
Download or read book Monetary Union and the Maastricht Inflation Criterion written by F. Gulcin Ozkan and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We model an accession country facing a Maastricht-type inflation criterion that specifies an inflation ceiling. In addition to deciding whether or not to satisfy this criterion, the country must decide how much costly economic reform to undertake. If the country puts enough weight on the future that it can credibly meet the inflation criterion no matter what the ceiling is, then the inflation criterion benefits the country but lowers reform. If the country puts less weight on the future, then a criterion with a properly chosen inflation ceiling can increase reform. We derive the inflation ceilings that maximize the country's welfare and its reform.
Book Synopsis The Maastricht Inflation Criterion: "Saints" and "Sinners" by : Aleš Bulíř
Download or read book The Maastricht Inflation Criterion: "Saints" and "Sinners" written by Aleš Bulíř and published by . This book was released on 2006 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Maastricht [and] the Choice of Exchange Rate Regime in Transition Countries During the Run-up to EMU by : György Szapáry
Download or read book Maastricht [and] the Choice of Exchange Rate Regime in Transition Countries During the Run-up to EMU written by György Szapáry and published by . This book was released on 2001 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Trends in European Productivity and Real Exchange Rates by : Matthew B. Canzoneri
Download or read book Trends in European Productivity and Real Exchange Rates written by Matthew B. Canzoneri and published by . This book was released on 1996 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 2016-06-16 with total page 248 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 Inflation Differentials in the EU: A Common ( Factors ) Approach with Implications for EU8 Euro Adoption Prospects by : Nada Choueiri
Download or read book Inflation Differentials in the EU: A Common ( Factors ) Approach with Implications for EU8 Euro Adoption Prospects written by Nada Choueiri and published by International Monetary Fund. This book was released on 2008 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores inflation determinants within the EU and implications for new members' euro adoption plans. Factor analysis partitions observed inflation in EU25 countries into common-origin and country-specific (idiosyncratic) components. Cross-country differences in common-origin inflation within the EU are found to depend on gaps in the initial price level, changes in the nominal effective exchange rate, the quality of institutions, and the economy's flexibility. Idiosyncratic inflation is generally small in magnitude. Nonetheless, the results show that country-specific shocks have systematically pushed down headline inflation, potentially influencing the assessment of compliance with the Maastricht inflation criterion.
Book Synopsis IMF Working Papers by : Jaromír Hurník
Download or read book IMF Working Papers written by Jaromír Hurník and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Euro Adoption and Maastricht Criteria by : Jiri Jonas
Download or read book Euro Adoption and Maastricht Criteria written by Jiri Jonas and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In connection with the prospective euro adoption by the new EU members, the issue of how strictly to enforce the Maastricht criteria for joining the European Economic and Monetary Union (EMU) has been discussed for some time. Arguments have been made in favor of a more flexible interpretation of some Maastricht criteria to take into account the specific conditions of the new member states (NMS). This paper makes a case for a more flexible interpretation of the Maastricht inflation criterion and proposes a different specification. Further, it examines the compatibility of inflation and exchange rate Maastricht targets and argues that under the specific circumstances of euro adoption, and taking into account the way these targets are defined, meeting both of them during a limited period of time should not pose a problem. Finally, the paper argues that both for short-term cyclical and long-term sustainability reasons, the NMS may aim at somewhat more ambitious fiscal targets before euro adoption than required by the Maastricht fiscal criteria.
Book Synopsis The Maastricht Convergence Criteria and Optimal Monetary Policy for the EMU Accession Countries by : Anna Lipinska
Download or read book The Maastricht Convergence Criteria and Optimal Monetary Policy for the EMU Accession Countries written by Anna Lipinska and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The EMU accession countries are obliged to fulfill the Maastricht convergence criteria prior to entering the EMU. What should be the optimal monetary policy satisfying these criteria? To answer this question, the paper proposes a DSGE model of a two-sector small open economy. First, I derive the micro founded loss function that represents the objective function of the optimal monetary policy not constrained to satisfy the criteria. I find that the optimal monetary policy should not only target inflation rates in the domestic sectors and aggregate output fluctuations but also domestic and international terms of trade. Second, I show how the loss function changes when the monetary policy is constrained to satisfy the Maastricht criteria. The loss function of such a constrained policy is characterized by additional elements penalizing fluctuations of the CPI inflation rate, the nominal interest rate and the nominal exchange rate around the new targets which are different from the steady state of the unconstrained optimal monetary policy. Under the chosen parameterization, the optimal monetary policy violates two criteria: concerning the CPI inflation rate and the nominal interest rate. The constrained optimal policy is characterized by a deflationary bias. This results in targeting the CPI inflation rate and the nominal interest rate that are 0.7% lower (in annual terms) than the CPI inflation rate and the nominal interest rate in the countries taken as a reference. Such a policy leads to additional welfare costs amounting to 30% of the optimal monetary policy loss.
Book Synopsis Global Challenges in Public Finance and International Relations by : ?ahin Duran, Deniz
Download or read book Global Challenges in Public Finance and International Relations written by ?ahin Duran, Deniz and published by IGI Global. This book was released on 2019-03-29 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although the concept of international public goods has been established, new international public needs arise by the day. For example, while there are many taxation problems and debates that have not yet been resolved internationally, many new tax-related problems like international transfer pricing, taxation of virtual profits, and taxation of electronic commerce are being added. These issues require studies that will discuss a new agenda and propose solutions for these dilemmas and problems. Global Challenges in Public Finance and International Relations provides an innovative and systematic examination of the present international financial events and institutions, international financial relations, and fiscal difficulties and dilemmas in order to discuss solutions for potential problems in the postmodern world. Highlighting topics such as international aid, public debt, and corporate governance, this publication is designed for executives, academicians, researchers, and students of public finance.
Book Synopsis Who Will Join EMU? by : R. Sean Craig
Download or read book Who Will Join EMU? written by R. Sean Craig and published by . This book was released on 1994 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
![Download Maastricht [and] the Choice of Exchange Rate Regime in Transition Countries During the Run-up to EMU PDF Online Free](https://books.google.com/books/content/images/frontcover/KsbdAAAACAAJ?fife=w200-h370)
