Download or read book Monetary Stability in Europe written by Stefan Collignon and published by Routledge. This book was released on 2003-09-02 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, the author presents fresh perspectives on the theories surrounding European Monetary Union. Urging the reader to examine conventional ideas from new viewpoints, he discusses the events which led to EMU, analyses the current situation, and projects possible futures. Essential reading for academics and professionals concerned with the background and implications of EMU, this book will also be of considerable interest to scholars in the fields of European studies, monetary economics, international economics and economic history.
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.
Download or read book The European Central Bank written by Rolf Hasse and published by . This book was released on 1990 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The European Monetary System written by Pieter Korteweg and published by . This book was released on 1979 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Monetary Stability through International Cooperation written by Age F.P. Bakker and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 390 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetary Stability through International Cooperation contains essays written by high ranking policy makers in the field of central banking and international finance, written in honour of André Szász, who has been Executive Director of De Nederlandsche Bank since 1973, responsible for international monetary relations. Colleagues from several other central banks, from finance ministries and from international institutions pay tribute to him by analysing the conditions fostering European as well as global monetary stability. The book provides an inside view of the thinking of monetary officials at the turn of 1993/1994, when the currency turmoil in the ERM of mid-1993 had subsided and views on its implications for exchange rate management and, more generally, for European integration were taking shape. Topics include exchange rate stabilisation, policy coordination and central bank independence. A second section, on the international monetary system, includes essays on the policy implications of present day dynamic financial markets as well as the role of the IMF. This book, written by `insiders for an insider', provides valuable insights to those who are interested in contemporary international monetary relations.
Download or read book Making the European Monetary Union written by Harold James and published by Harvard University Press. This book was released on 2012-11-19 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: Europe’s financial crisis cannot be blamed on the Euro, Harold James contends in this probing exploration of the whys, whens, whos, and what-ifs of European monetary union. The current crisis goes deeper, to a series of problems that were debated but not resolved at the time of the Euro’s invention. Since the 1960s, Europeans had been looking for a way to address two conundrums simultaneously: the dollar’s privileged position in the international monetary system, and Germany’s persistent current account surpluses in Europe. The Euro was created under a politically independent central bank to meet the primary goal of price stability. But while the monetary side of union was clearly conceived, other prerequisites of stability were beyond the reach of technocratic central bankers. Issues such as fiscal rules and Europe-wide banking supervision and regulation were thoroughly discussed during planning in the late 1980s and 1990s, but remained in the hands of member states. That omission proved to be a cause of crisis decades later. Here is an account that helps readers understand the European monetary crisis in depth, by tracing behind-the-scenes negotiations using an array of sources unavailable until now, notably from the European Community’s Committee of Central Bank Governors and the Delors Committee of 1988–89, which set out the plan for how Europe could reach its goal of monetary union. As this foundational study makes clear, it was the constant friction between politicians and technocrats that shaped the Euro. And, Euro or no Euro, this clash will continue into the future.
Download or read book European Monetary System written by Great Britain. Parliament. House of Lords. Select Committee on the European Communities and published by . This book was released on 1983 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Rules for International Monetary Stability written by Michael D. Bordo and published by Hoover Press. This book was released on 2017-04-01 with total page 381 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the end of the Great Recession in 2009 the central banks of the advanced countries have taken unprecedented actions to reflate and stimulate their economies. There have been significant differences in the timing and pace of these actions. These independent monetary policy actions have had significant spillover effects on the economies and monetary policy strategies of other advanced countries. In addition the monetary policy actions and interventions of the advanced countries have had a significant impact on the emerging market economies leading to the charge of 'currency wars.' The perceived negative consequences of spillovers from the actions of national central banks has led to calls for international monetary policy coordination. The arguments for coordination based on game theory are the same today as back in the 1980s, which led to accords which required that participant countries follow policies to improve global welfare at the expense of domestic fundamentals. This led to disastrous consequences. An alternative approach to the international spillovers of national monetary policy actions is to view them as deviations from rules based monetary policy. In this view a return to rules based monetary policy and a rolling back of the " global great deviation" by each country's central bank would lead to a beneficial policy outcome without the need for explicit policy coordination. In this book we report the results from a recent conference which brought together academics, market participants, and policy makers to focus on these issues. The consensus of much of the conference was on the need for a classic rules based reform of the international monetary system.
Download or read book Frameworks for Monetary Stability written by Mr.Carlo Cottarelli and published by International Monetary Fund. This book was released on 1994-12-15 with total page 772 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, edited by Tomás J.T. Baliño and Carlo Cottarelli, addresses some of the strategic issues faced by policymakers in the choice of a monetary regime. Following an overview of some of these issues, the book considers the various theoretical or practical frameworks for the implementation of monetary policy. It then focuses on how monetary policy should be implemented.
Download or read book Safeguarding the Euro in Times of Crisis written by and published by . This book was released on 2019 with total page 419 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book tells the inside story of those who played key roles in setting up the organisations and combatting the crisis. In exclusive interviews, global financial leaders and ESM insiders provide a rich stock of perspectives and anecdotes that bring to life the urgency of the crisis as well as the innovative solutions found to resolve it. The European Stability Mechanism and its temporary predecessor the EFSF provided billions of euros in loans to five hard-hit euro area countries during the European financial and sovereign debt crisis of the early 2000s, helping to safeguard the stability of those countries and the euro area as a whole. Initially, the crisis-torn euro area was ill-equipped institutionally, but the rapid establishment of the firewalls, the assistance programmes, deep‐seated country reforms, the strengthening of European institutions, and extraordinary European Central Bank measures shielded Europe from a euro area break-up. With the EFSF/ESM set-up, its managers aspired to create a new, more entrepreneurial international financial institution, one that is agile enough to respond quickly to new challenges, while still ensuring the strict governance befitting an organisation pursuing a public mission. The euro area has emerged from near disaster in more robust shape. As Europe strives to further strengthen its architecture in preparation for any possible future crises, it is important to reflect upon how the euro area reinvigorated its fortunes and draw the relevant lessons for future crisis management in Europe and beyond.
Download or read book The European Monetary System written by Jacques van Ypersele and published by . This book was released on 1985 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recoge: 1. International motives for the EEC iniative - 2. The EBB and flow of european monetary integration - 3. The EMS and the conditions for its proper operation - 4. Five years with EMS - 5. The furure of EMS.
Download or read book EUropean Monetary System written by International Monetary Fund and published by International Monetary Fund. This book was released on 1990-11-15 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews developments in the European Monetary System (EMS). The paper highlights that the first phase of development of the EMS, from its beginning in March 1979 to March 1983, can be seen as a phase of trial and orientation. A common economic policy strategy was not yet in place, and the member countries tried to cope with exogenous disturbances in different ways. The second phase, from March 1983 to 1987, can be described as one of consolidation. Economic policies in exchange rate mechanism countries were increasingly oriented toward internal monetary stability.
Download or read book European Monetary Union written by John Grahl and published by . This book was released on 2001 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: John Grahl investigates some key flaws in the monetary union and demonstrates how, despite these political and economic weaknesses being emphasized during a long debate, European political elites appear to have imposed the formulae of Maastricht in an essentially unchanged form. Three problems are highlighted: the lack of democratic legitimacy for European monetary policy, the decidedly restrictive nature of the macro-economic regime that has been installed, and the absence of adequate Europe-wide mechanisms to ensure financial stability. These issues are examined with a specific focus on the transformations in European money and finance which have taken place since the launch of the euro.
Download or read book On the Meaning and Future of the European Monetary System written by Tom Vries and published by . This book was released on 1980 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Euro at Ten The Next Global Currency written by and published by Peterson Institute. This book was released on 2009 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Money and Monetary Stability in Europe 1300 1914 written by K. Kivanç Karaman and published by . This book was released on 2018 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the determinants of monetary stability in Europe from the late medieval era until World War I. Through this period, the nominal anchor for monetary policy was the silver/gold equivalent of the monetary unit. States, however, frequently abandoned this anchor, some depreciating their monetary units against silver/gold less than 10 times and others more than 10,000 times between 1500 and 1914. To document patterns of monetary stability and put alternative theories of stability to test, we compile a new data set of silver/gold equivalents of monetary units for all major European states. We find strong support for political and fiscal theories arguing that states with weak executive constraints and intermediate levels of fiscal capacity had less stable monetary units. In contrast, the empirical support for monetary theories emphasizing the mechanics of the monetary system is weak. These findings support the primacy of political and fiscal factors over mechanical factors for monetary stability.
Download or read book Systemic Requirements for Monetary Stability in Eastern Europe and the Former Soviet Union written by Jacek Rostowski and published by International Monetary Fund. This book was released on 1994-02-01 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: The primary function of banks during economic transformation is seen to be provision of an efficient payments mechanism. The lack of banking skills, particularly in credit allocation, is seen as the major problem in stable monetary systems. This is a problem which can be expected to last many years. The solution is to limit banks to very safe assets (initially central bank liabilities). Combining such safe banks with a monetary rule would provide stable monetary systems during transition.
