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Stabilization Policy In An Exchange Rate Union
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Book Synopsis Stabilization Policy in an Exchange Rate Union by : Valeria Debonis
Download or read book Stabilization Policy in an Exchange Rate Union written by Valeria Debonis and published by . This book was released on 1994-08-30 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study analyses the impact of monetary and fiscal policy pursued by one member country of an exchange rate union on its own macroeconomic performance as well as on those of the other member countries and of the rest of the world. Since the analytical framework is defined by a three-country model many results from the traditional policy coordination literature, which relies on two country models, are qualified. Particular attention is paid to the implications of asymmetries between the EC member countries. Furthermore, the structural parameters are in some instances not taken as given but as responsive to the unification process. The study is a reference concerning the theoretical analysis of currency unions. It is also of interest for those concerned with European integration.
Book Synopsis Stabilization Policy in an Exchange Rate Union by : Valeria De Bonis
Download or read book Stabilization Policy in an Exchange Rate Union written by Valeria De Bonis and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: The treaty of Maastricht envisages the full economic and monetary union in Europe. With increasing real and monetary integration policy decisions in individual member countries tend to have a growing impact on the other member countries of the European Community. Against this background the following study analyses within a unified theoretical framework the impact of monetary and fiscal policy pursued by one country on its own macroeconomic performance as well as on those of the other member countries and of the rest of the world. The analysis contrasts the cases of a small and a large European union relative to the rest of the world and distinguishes very clearly between the short-run, the medium-run and the long-run effects. Based on this the consequences for union cohesion and the scope for policy coordination are discussed. Since the analytical framework is defined by a three country model many results from the traditional policy coordination literature which relies on two country models are qualified. In contrasts to most previous research in this area particular attention is paid to the implications of asymmetries between the EC member countries. Furthermore, the structural parameters are in some instances not taken as given but as responsive to the integration process. In this context numerous links to the traditional literature on optimal currency areas are established and interesting implications for union cohesion during the transition are derived.
Book Synopsis Monetary Policy and Macroeconomic Stabilization by : Ole Roste
Download or read book Monetary Policy and Macroeconomic Stabilization written by Ole Roste and published by Routledge. This book was released on 2017-09-08 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: As a fundamental review and critique of activist economic policies, this book is a unique contribution to classical political economy. "Monetary Policy and Macroeconomic Stabilization" is about macroeconomic stabilization policy, with emphasis on the value of a distinct national monetary policy to growth. Ole Bjorn Roste's argument is for public officials to restrain themselves in the pursuit of policy. As the author notes: when you know less, you should do less.The history of modern macroeconomics started in 1936 with the publication of Keynes' "General Theory of Employment, Interest, and Money". The problems of the Great depression of the 1930s paved the way for a change of focus, from the long run to economic fluctuations in the short run, and from nominal to real variables, such as unemployment and aggregate output.Keynes offered clear policy implications in tune with the times. Because economic adjustment was slow, waiting for the economy to recover by itself was irresponsible. Particularly fiscal policy was essential to return to high employment. Monetary policy could affect aggregate demand through Interest rates, but was less important. Roste discusses the role of monetary policy, starting out with the implications of the theory of optimum currency areas (OCAs). This is followed by estimates of the output loss associated with disinflation policy (the sacrifice ratio) for six OECD economies. Further, Roste models the dynamic adjustment to negative, local labor-market shocks, with particular relevance to Scandinavia, in a final section.The idea that governments should pursue stabilizing fiscal or monetary policies with regard to real variables is often taken for granted by the public, if not by economists. Among the reasons for skepticism, is the presence of differing views on how economies really work, that the state of a given economy becomes known only after a time lag, and that economic agents react to policy and expectations of policy. For these reasons, the effects of policy are generally uncertain. This book explains why the role of history is critical to the study of macroeconomics.p>
Book Synopsis A strategic analysis of stabilization policy in an exchange rate union by : Valeria De Bonis
Download or read book A strategic analysis of stabilization policy in an exchange rate union written by Valeria De Bonis and published by . This book was released on 1993 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Comments on Exchange Rate Stabilization and European Monetary Union by : Jeffrey Alexander Frankel
Download or read book Three Comments on Exchange Rate Stabilization and European Monetary Union written by Jeffrey Alexander Frankel and published by . This book was released on 1993 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Long-Run Effects of Short-Run Stabilization Policy by : Lars Calmfors
Download or read book Long-Run Effects of Short-Run Stabilization Policy written by Lars Calmfors and published by Springer. This book was released on 1983-06-18 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Monetary Politics by : Thomas H. Oatley
Download or read book Monetary Politics written by Thomas H. Oatley and published by University of Michigan Press. This book was released on 1997 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the domestic politics of European monetary integration
Book Synopsis Stabilization Policy, Fixed Exchange Rates and Target Zones by : George S. Alogoskoufis
Download or read book Stabilization Policy, Fixed Exchange Rates and Target Zones written by George S. Alogoskoufis and published by . This book was released on 1989 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Exchange Rate Policies in Developing and Post-socialist Countries by : Emil Maria Claassen
Download or read book Exchange Rate Policies in Developing and Post-socialist Countries written by Emil Maria Claassen and published by . This book was released on 1991 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Stabilization Policy by : Fouad Sabry
Download or read book Stabilization Policy written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2024-02-11 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is Stabilization Policy In macroeconomics, a stabilization policy is a package or set of measures introduced to stabilize a financial system or economy. The term can refer to policies in two distinct sets of circumstances: business cycle stabilization or credit cycle stabilization. In either case, it is a form of discretionary policy. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Stabilization policy Chapter 2: International Monetary Fund Chapter 3: Fiscal policy Chapter 4: Exchange rate Chapter 5: Economic policy Chapter 6: 1997 Asian financial crisis Chapter 7: Deficit spending Chapter 8: Monetary policy Chapter 9: External debt Chapter 10: Austerity Chapter 11: Foreign exchange reserves Chapter 12: Impossible trinity Chapter 13: Structural adjustment Chapter 14: Optimum currency area Chapter 15: Economic stability Chapter 16: Adolfo Diz Chapter 17: Guillermo Calvo Chapter 18: Sudden stop (economics) Chapter 19: Fear of floating Chapter 20: South Korea and the International Monetary Fund Chapter 21: South Korean International Monetary Fund Agreement, 1997 (II) Answering the public top questions about stabilization policy. (III) Real world examples for the usage of stabilization policy in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Stabilization Policy.
Book Synopsis The Exchange Rate as an Intermediate Target of Stabilization Policy in Austria by : Heinz Handler
Download or read book The Exchange Rate as an Intermediate Target of Stabilization Policy in Austria written by Heinz Handler and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: After the breakdown of the Bretton Woods system, Austria adhered to an exchange rate policy of adjustably pegging the schilling to a basket of stable currencies. Over the years the basket changed according to the respective priorities of overall economic policy and eventually shrunk to a single hard currency, the deutschmark. The resulting effective appreciation of the schilling was intended to import price stability. In the second half of the 1970s, that policy became inconsistent when monetary and fiscal policies were eased to counter the consequences for growth and employment of the spreading international recession. As a consequence the deficit on current account increased rapidly and eventually, by mid 1977, resulted in a de facto tightening of monetary policy and a (slight) depreciation of the schilling against the deutschmark. The official arguments in favor of maintaining the hard currency policy can be traced either to the (long-run) "Scandinavian" model of inflation transmission or to the vicious circle hypothesis (a depreciation induces inflation which in turn leads to further depreciation) or to considerations of an optimum currency area comprising Germany and Austria. In the paper it is shown that (i) the Scandinavian model must be heavily adapted to deal with short-run policies, (ii) a vicious circle was unlikely to develop given the remarkable real wage flexibility in Austria, and (iii) a currency union with Germany was harmful to real sector developments in Austria. The paper concludes that Austria, given the change in policy priorities from inflation targeting to fighting unemployment, maintained the hard currency policy much too long.
Book Synopsis Macroeconomic Stabilization Through Monetary and Fiscal Policy Coordination by : Jay H. Bryson
Download or read book Macroeconomic Stabilization Through Monetary and Fiscal Policy Coordination written by Jay H. Bryson and published by . This book was released on 1993 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Crisis, Stabilization and Growth by : Patrick J. Conway
Download or read book Crisis, Stabilization and Growth written by Patrick J. Conway and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: List of Figures. List of Tables. List of Symbols. List of Country Acronyms. Foreword and Acknowledgements. I. The Transition Economies. II. Saving, by Plan and in the Market. III. Considering the Competing Explanations of Transition in Inflation and Economic Growth. IV. The Inflationary Explosion Following Price Liberalization. V. The Crisis Years. VI. Directed Credits and Financial Repression in Belarus. VII. Stabilization in Transition Economies. VIII. Ukraine in the Stabilization Phase. IX. Georgia: from Crisis to Stabilization .. and Then? X. The Fallout of the Russian Financial C.
Book Synopsis Monetary Union and Macroeconomic Stabilization by : Willem H. Buiter
Download or read book Monetary Union and Macroeconomic Stabilization written by Willem H. Buiter and published by . This book was released on 1996 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis On Relative Shocks and Fiscal Policies in a Monetary Union by : George S. Alogoskoufis
Download or read book On Relative Shocks and Fiscal Policies in a Monetary Union written by George S. Alogoskoufis and published by . This book was released on 1990 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Approaches to Exchange Rate Policy by : Mr.Richard C. Bart
Download or read book Approaches to Exchange Rate Policy written by Mr.Richard C. Bart and published by International Monetary Fund. This book was released on 1994-06-01 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: External sector policies and exchange rate policy are central to a country's economic performance and to the IMF's surveillance functions. The papers in this book, edited by Richard Barth and Chorng-Huey Wong, were presented at a seminar on Exchange Rate Policy in Developing and Transition Economies held by the IMF Institute. They analyze choices of exchange rate regimes, issues affecting management of exchange regimes, and specific types of regimes, including case studies from the former Soviet Union, Africa, Asia, and Latin America.
Book Synopsis Flexible Exchange Rates for a Stable World Economy by : Joseph E. Gagnon
Download or read book Flexible Exchange Rates for a Stable World Economy written by Joseph E. Gagnon and published by Peterson Institute. This book was released on 2011 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: Volatile exchange rates and how to manage them are a contentious topic whenever economic policymakers gather in international meetings. This book examines the broad parameters of exchange rate policy in light of both high-powered theory and real-world experience. What are the costs and benefits of flexible versus fixed exchange rates? How much of a role should the exchange rate play in monetary policy? Why don't volatile exchange rates destabilize inflation and output? The principal finding of this book is that using monetary policy to fight exchange rate volatility, including through the adoption of a fixed exchange rate regime, leads to greater volatility of employment, output, and inflation. In other words, the "cure" for exchange rate volatility is worse than the disease. This finding is demonstrated in economic models, in historical case studies, and in statistical analysis of the data. The book devotes considerable attention to understanding the reasons why volatile exchange rates do not destabilize inflation and output. The book concludes that many countries would benefit from allowing greater flexibility of their exchange rates in order to target monetary policy at stabilization of their domestic economies. Few, if any, countries would benefit from a move in the opposite direction.
