Download or read book Seigniorage in Europe written by Vittorio Grilli and published by . This book was released on 1988 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, based on the experience of ten European countries, we study the relevance of seigniorage revenues in the recent past, and we speculate about their importance in the near future. We find that the members of the European community differ widely in the way they manage monetary policies. While for some of the European countries we could not identify any consistent seigniorage policy, for others seigniorage appears to have been an important component of their financing policies. This lack of consensus about the role of monetary policies is a potential source of conflict in designing common exchange rate policies. A formal analysis of the current status of the finances of the governments of the ten European countries also revealed that several of them are now following budget policies that are potentially incompatible with their long run solvency. This also represents a major obstacle toward monetary unification on exchange rate stability. Member countries will be faced with quite different needs for revenues and eliminating a (politically) flexible instrument like siegniorage may result in an unstable situation.
Download or read book Seigniorage in Europe written by and published by . This book was released on 1988 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Potential Seigniorage in Europe written by Bert Balke and published by . This book was released on 1996 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Seigniorage in the EC written by International Monetary Fund and published by International Monetary Fund. This book was released on 1989-01-01 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper measures the effects of the integration of European financial markets and lower inflation in the EMS on the revenue from seigniorage for the EC member countries with particular focus on the high inflation countries. Assuming that by 1992 all EC members participate fully in the EMS and reserve requirements are unified, the revenue from seigniorage will be reduced by about 2 percentage points of GDP in Greece and Portugal and 0.5-0.8 percentage points in Italy and Spain. Two different measures of seigniorage yield similar results regarding the change, but differ regarding the level.
Download or read book The European Monetary System and Seigniorage written by Emine Bilgili and published by . This book was released on 1996 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book European Economy written by and published by . This book was released on 1993 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book European Financial Integration and Revenue from Seigniorage written by International Monetary Fund. European Department and published by . This book was released on 1989 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Seigniorage written by Franziska Schobert and published by . This book was released on 2001 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Open Issues in European Central Banking written by L. Smaghi and published by Springer. This book was released on 2000-01-04 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the start of EMU, the Eurosystem has taken over monetary policy for the 11 countries of the Euro-area. But the division of powers within the Eurosystem, between the European Central Bank and the constituent National Central Banks, is not satisfactory. This volume provides an analysis of the strengths and weaknesses of the Eurosystem and offers concrete proposals concerning the decision-making organs, balance sheets and the distribution of seigniorage.
Download or read book A European Central Bank written by Marcello De Cecco and published by Cambridge University Press. This book was released on 1989-05-25 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: The papers in this volume analyse the issues of having a single European currency.
Download or read book The European Central Bank written by Hanspeter K. Scheller and published by . This book was released on 2006 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprehensive 200-page overview of the ECB from its inception in June 1998 until the present day.
Download or read book The Debate on Money in Europe written by Alberto Giovannini and published by MIT Press. This book was released on 1995 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written from 1985 to 1992, the author's essays address such topics as the transition to a European monetary system, the design and functioning of a European Central Bank, curency reform, capital inflow, and exchange rates.
Download or read book European Monetary Integration written by Paul J.J. Welfens and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetary integration in the EC will continue with the desired hardening of the European Monetary System that is expected to lead to an EC central bank in the 1990s. Why has the European Monetary System been so successful and what role has the Deutsche Bundesbank played in monetary policy and the EMS in Europe? This book gives an assessment of the EMS developments and its stability record, analyzes the impact of German monetary unification and shows how financial market liberalization as well as the EC 1992 project affect the process of Economic and Monetary Union. The progress in the EMS is occuring in a period of both thorough changes in the U.K. and in European East-West relations and global economic changes. The problems of EC monetary union and EC central banking are discussed and questions of the transition phase of monetary policy are raised. The further progress of EMU - including the creation of an EC central bank - is analyzed both theoretically and from a political-economy perspective. Creating a common central bank and an EC currency raises new issues for the consistency of monetary and fiscal policy in Europe, where U.S. experiences provide valuable insights.
Download or read book Economic and Monetary Union in Europe and Constraintson National Budgetary Policies written by International Monetary Fund and published by International Monetary Fund. This book was released on 1990-07-01 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the pros and cons of institutionalized constraints limiting the freedom of national budgetary policies within an Economic and Monetary Union (EMU) in Europe. The issue is approached from three angles: the influence of EMU on (i) budget discipline; (ii) intergenerational equity and intertemporal efficiency; and (iii) macroeconomic stabilization. The desirability of constraints on budgetary policy is related to the arrangements for EMU-wide monetary policy, the credibility of a no-bailout clause among member states, and progress in the area of supply-side policies.
Download or read book A Stable External Currency for Europe written by Jacques Riboud and published by Springer. This book was released on 1991-03-20 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author does not believe that the governments of the European Community - even supposing that they can agree on the matter - will succeed in imposing the ECU as a payment and reserve currency for use in the EEC's external trade. In the external market the choice of currency is free and a brand new currency will only be chosen if it is better than all the alternatives and if it has been successfully 'promoted'.
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.
Download or read book For Another Europe written by Guglielmo Carchedi and published by Verso. This book was released on 2001-05-17 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: Guglielmo Carchedi argues that only an analysis centered on class as the basic unit of social life can throw light on the internal contradictions of European economic integration.
