Download or read book Growth and Inflation Dispersions in EMU written by Emil Stavrev and published by International Monetary Fund. This book was released on 2007-07 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper's analysis of growth and inflation dispersions in the euro area reveals several findings. First, these dispersions have declined appreciably since EMU; remaining dispersions are small but persistent, relating mainly to country-specific shocks, not differences in the transmission of common shocks. Second, the different behavior of interest rates just before and after the introduction of the euro has contributed significantly to growth dispersions. However, this has been a one-off shock whose effects, particularly on construction, should be declining over time. Third, financial sector integration could do much more to insure countries against shocks and increase consumption smoothing.
Download or read book Price Stability Inflation Convergence and Diversity in EMU written by Axel A. Weber and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Growth and Cohesion in the European Union written by William Mitchell and published by Edward Elgar Publishing. This book was released on 2006-01-01 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a critical review of current fiscal and monetary policy in Europe and presents results of both empirical research and a discussion of the theoretical framework behind the policy of the ECB and the Stability and Growth Pact.
Download or read book Political Pressure Rhetoric and Monetary Policy written by Philipp Maier and published by Edward Elgar Publishing. This book was released on 2002-01-01 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Philipp Maier offers an examination of the extent to which governments and various interest groups have exerted pressure on central banks. The book looks in particular at the Deutsche Bundesbank - which acted as the blueprint for the European Central Bank (ECB) - and utilizes an original set of indicators to measure external pressure and support from the government and other institutions.
Download or read book Inflation Rate Dispersion and Convergence in Monetary and Economic Unions Lessons for the ECB written by Günter W. Beck and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Determinants of Inflation in the Euro Area written by Ms.Florence Jaumotte and published by International Monetary Fund. This book was released on 2012-01-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: While inflation differentials in a monetary union can be benign, reflecting a catch-up process, or an adjustment mechanism to asymmetric shocks or different business cycles, they may also indicate distortions related to inefficiencies in domestic product and labor markets that amplify or make more persistent the impact of shocks on inflation. The paper examines the determinants of inflation differentials in the euro area, with emphasis on the role of country specific labor and product market institutions. The analysis uses a traditional backward-looking Phillips curve equation and augments it to explore the role of collective bargaining systems, union density, employment protection, and product market regulation. The model is estimated over a panel dataset of 10 euro area countries over the period 1983-2007. Results show that high employment protection, intermediate coordination of collective bargaining, and high union density increase the persistence of inflation. Oil and raw materials price shocks are also more likely to be accommodated by wage increases when the degree of coordination in collective bargaining is intermediate. These results are robust to different estimation methods, model specifications, and outliers. The paper suggests that reforming labor market institutions may improve the functioning of the euro area by reducing the risk of persistent inflation differentials.
Download or read book EMU One Year on written by OECD and published by OECD Publishing. This book was released on 2000-03-29 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study assesses economic developments and policies during the inaugural year of Europe's single currency regime. It analyses the economic performance and prospects of the euro area as a whole, and highlights to what extent aggregate trends are shaped by convergence or divergence.
Download or read book Monetary and Fiscal Policies in EMU written by Marco Buti and published by Cambridge University Press. This book was released on 2003-11-13 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading scholars and policy makers examine the challenges that are facing economic policies in the EMU today.
Download or read book Inflation Differentials in a Currency Union A DSGE Perspective written by and published by "la Caixa". This book was released on with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Using An EC Wide Monetary Aggregate in Stage Two of EMU written by Mr.Tamim Bayoumi and published by International Monetary Fund. This book was released on 1992-07-01 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper looks at whether the aggregate ERM money supply has been a useful predictor of short-term changes in inflation and growth, and long-term trends in price levels among the core ERM countries. The evidence suggests that over the period since 1987, when there have been no realignments, the ERM money supply performs at least as well, and arguably better, than the individual national aggregates in predicting nominal aggregates such as inflation and the price level, while neither money supply is a good predictor of real activity.
Download or read book Is There Scope for Inflation Differentials in EMU written by Enrique Alberola Ila and published by . This book was released on 1998 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: El resumen de este documento puede consultarse en la version publicada por el Bank of Finland y recogida en el Boletin de Instituciones Economicas Europeas numero 91. (mac).
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:
Download or read book Euro Area Policies written by International Monetary Fund and published by International Monetary Fund. This book was released on 2008-08-04 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2008 Article IV Consultation on euro area policies highlights that 10 years after its launch, monetary union is a distinct success and the euro area a zone of stability in the international economy. However, economic union remains work in progress. Improved wage setting and labor market reforms have contributed to the creation of some 16 million jobs over the past decade. Similarly, the single market program and product market reforms have raised productivity in affected sectors. The outlook for financial stability is highly uncertain, although the area’s financial system remains sound.
Download or read book Fiscal Policy Without a State in EMU written by J. Kaarlejärvi and published by Springer. This book was released on 2007-10-26 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines fiscal policy coordination in EMU and the required adjustments to national fiscal policies by EMU member states. The book shows that, in the process of Europeanization, national interests have had a major impact on the formation of fiscal policy coordination.
Download or read book What is the relationship between inflation and growth telling us about integration in the EMU written by Zorica Majnovic and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Public Policy for Regional Development written by Jorge Martinez-Vazquez and published by Routledge. This book was released on 2008-05-20 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses the question of the best possible uses of public funds and the most effective strategies for regional development, focusing on the develop of human capital and the methodology of formulating regional policy.
Download or read book EMU and Economic Policy in Europe written by Marco Buti and published by Edward Elgar Publishing. This book was released on 2002-01-01 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explores issues surrounding the European Monetary Union, including the financial impact of the euro, the behavior of monetary and fiscal authorities, and the consequences of EU enlargement.
