Download or read book A Strategy for EMU Enlargement written by and published by . This book was released on 2005 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Strategy for EMU Enlargement written by Marek Dabrowski and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper summarizes the results of CASE's research project on 'Strategies for Joining the EMU' and proposes policy recommendations both for new member states (on how to manage their accession to the Eurozone) and for the European Commission, ECB and old member states (on how to manage and absorb EMU enlargement in an optimal way). Both the economic and the political economy arguments point to fast EMU accession of NMS. Looking at the 'classical' optimum currency area criteria, i.e. trade integration, co-movement of business cycles and actual factor mobility, NMS' record is not worse, on average, than that of the current Eurozone members, and should further improve before Eurozone entry, decreasing risk of their exposure to idiosyncratic shocks. After joining the EMU, the common currency should help NMS to develop additional intra-EMU trade links, further synchronize business cycle and increase factor mobility. Both theoretical arguments and empirical experience demonstrates that so-called real convergence accompanies nominal convergence, and that there is synergy rather than a trade-off between the two. The credibility of the Euro and price stability in the Eurozone will not be threatened by fast EMU Enlargement. Neither can the accession of fast growing NMS create an additional 'recessionary' impact on slow growing incumbent members. The biggest challenge for the common currency in the medium to long run may come from widespread breaches of EU fiscal rules. So the incumbents should replace their 'don't rush' advice by active encouragement of NMS to proceed with fast nominal convergence in order to meet the Maastricht criteria and join the EMU as quickly as possible.
Download or read book Strategy of EMU enlargement written by Katarzyna Żukrowska and published by . This book was released on 2004 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book EMU Strategies written by Theodoros Papaspyrou and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper, after reviewing briefly the early steps of European monetary integration and key elements of the EMU project as reflected in the Treaty of Maastricht, analyses the monetary integration strategy and convergence experience of member states, in particular that of Greece, in the 1990s which led to the adoption of the euro. From this analysis, a number of lessons are drawn which may be useful, in the light of enlargement, to future candidates for euro area membership in designing their economic and monetary convergence strategies. The paper concludes that the existing Community institutions, rules and mechanisms provide a helpful framework to guide the convergence effort of accession countries towards EMU and ensure the implementation of sound economic policies thereafter.
Download or read book EMU Strategies written by Theodoros S. Papaspyrou and published by . This book was released on 2004 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Monetary Aspects of Enlargement Central and Eastern Europe EMU and the ERM 2 written by Ulrich Machold and published by GRIN Verlag. This book was released on 2008 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2002 in the subject Economics - Monetary theory and policy, grade: 1.0 (A), Technical University of Berlin (-), 54 entries in the bibliography, language: English, abstract: A rough 50 years after its foundation, the European Union (EU) is preparing for the probably most ambitious challenge of its existence, the binding-back into the West of the once centrally-planned economies of Central and Eastern Europe (CEEC). Together with political and general economic efforts, European monetary integration also gains speed with as many as twelve CEEC queuing up for entry into the EU (not including Turkey, which has not yet officially begun entry negotiations), the first of them most likely joining the Union already two years after the physical introduction of the single currency, i.e. in 2004. Many of these countries are eager to also join Monetary Union (EMU) and show their ability to be ′good Europeans′ by adopting the Euro as soon as possible. Various statements by both CEEC-government officials and monetary authorities exemplify this very vividly. This implies that the enlargement of EMU is already a relevant issue. By the time it becomes acute, positions and perspectives of both applicants and current members should be clear, if unnecessary delays and political irritations are to be avoided. The body of literature on the subject is thus as large as the questions of when, how and on what terms CEEC-accession will take place are pressing, and becoming more so as time progresses. This study attempts to coherently examine the core issues related to EMU-enlargement, equally synthesising the various segmented approaches of the academic debate, and deduce normative conclusions as to what strategic outlook should seem appropriate to both CEEC and the current EMU-12: In what timeframe should accession most sensibly take place? How appropriate are the mechanics leading up to EMU, most prominently the Exchange Rate Mechanism (ERM-II) and the Maastr
Download or read book EMU and Enlargement written by Holger van Eden and published by . This book was released on 1999 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The EUs Enlargement and Mediterranean Strategies written by M. Maresceau and published by Springer. This book was released on 2001-03-01 with total page 421 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyses and compares the preferential relations between the EU and the countries on its eastern and southern peripheries. It presents a comprehensive study of the emerging pan-Euro-Mediterranean regional integration and analyses the economic, political and social strategies adopted by the EU and will be an indispensable reference work for those working on issues related to EU enlargement and integration.
Download or read book Asymmetries in Monetary Policy Transmission written by Paul De Grauwe and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this article we analyse how the enlargement of a monetary union may affect the design of the common monetary policy when the latter transmits asymmetrically between the member countries. We find that the use of national information about inflation and unemployment in the design of the common monetary policy allows for tackling the heterogeneity induced by this asymmetry. This implies that if enlargement contributes to augmenting the transmission asymmetry of monetary policy in EMU, it will raise the need to take into account information about national economies in the formulation of optimal monetary policies in the monetary union. Furthermore, the choice for a new EU Member State to enter EMU will also depend on the monetary strategy implemented by the European Central Bank and, in particular, whether the latter would take the asymmetries in the transmission of monetary policy actions into account.
Download or read book Formulating an EMU Strategy written by David Norris and published by . This book was released on 1998 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Eastern Enlargement of the Eurozone written by Marek Dabrowski and published by Springer Science & Business Media. This book was released on 2006-07-01 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Eastern Enlargement of the EU will not be complete until the new member states join the EMU. Economic and political economy arguments point to fast EMU accession of new member states. Failure to do so will create a two speed Europe, a fundamental change in the economic and political architecture of the EU, adding to the strains already evident between core and peripheral countries. Current high level of trade and business cycle integration of new member states with the Eurozone, decreases the probability of asymmetric shocks. Lower transaction costs, elimination of exchange rate risk and the danger of currency crises, further trade and investment creation, lower interest rates and large fiscal gains, should outweigh the loss of the exchange rate as adjustment tool. The Eastern Enlargement of the Eurozone provides comprehensive economic analysis of theoretical, empirical and political issues that will determine whether EMU enlargement is a success, which has implications for all common currency systems.
Download or read book The Enlargement of the European Union written by Victoria Curzon Price and published by Psychology Press. This book was released on 1999 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume looks at the process of enlargment which the European Union is currently undertaking, focusing on both the economic and political dimensions of the subject. The volume examines how enlargment has evolved and looks at the roles and relations of the different actors - member states, applicant states and EU institutions. With contributors coming from different disciplinary backgrounds, the volume offers an unusually rich array of perspectives on one of the most significant political developments of recent years.
Download or read book Enlarging the Euro Area written by Kenneth Dyson and published by OUP Oxford. This book was released on 2006-11-02 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book seeks to offer the first in-depth and systematic analysis of the challenges of the Euro Area and the eastward enlargement of the European Union. It focuses in particular on how the prolonged process of accession to the Euro Area is affecting domestic economic policies in the accession states of east central Europe. It contributes to Europeanization studies, comparative political economy and to studies of Economic and Monetary Union. It also provides a picture of processes of domestic transformation in such countries as the three Baltic States, Bulgaria, the Czech Republic, Hungary, Poland and Romania. The book brings together a range of recognized experts from across Europe and combines country and sectoral case studies with a thematic treatment. It begins by offering an 'outside-in' perspective, which situates the effects of EMU on the accession states in the wider context of the development of global economic norms. The second part focuses on an 'inside-out' analysis of how Euro Area accession affects the states of east central Europe - their policies, politics and public institutions. The final part assesses how Euro Area accession is affecting key policy sectors in east central Europe: financial market regulation, fiscal policies and welfare states and labour markets.
Download or read book Fiscal Policies in EMU Countries written by Francesco Forte and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Purpose - The aim of the paper is to evaluate fiscal adjustments that have occurred in the Economic and Monetary Union (EMU) countries in the last 35 years, and their consequences on the economic growth process by using the mean group (MG) estimators.Design/methodology/approach - Our emphasis is on the effects of different composition of fiscal stimuli and consolidations. We compare the effects on the economic growth rate of different compositions of major fiscal changes. We use a cyclically adjusted value of the fiscal variables to leave aside variations of the fiscal variables induced by business cycle fluctuations.Findings - Our empirical research of the effects of large changes in fiscal policy, both in case of a fiscal consolidation and of fiscal stimulus in the 18EMUcountries from 1980 to 2015, shows that adjustments by cutting current expenditures, rather than by tax increases are more likely to boost economic growth. It also shows that cuts of investment expenditures may reduce GDP growth. During fiscal stimulus episodes, tax cuts and public investments are more likely to increase growth than current public expenditure.Originality/value - This is the first study devoted to the EMU countries. It should be underlined that the results obtained as for EMU countries are not necessarily applicable to other countries, as the different government size as well as different market institutions may influence the results.
Download or read book The 1975 Referendum on Europe Volume 2 written by Mark Baimbridge and published by Andrews UK Limited. This book was released on 2016-10-31 with total page 165 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an analysis of the relationship between the UK and the EU, treating the key overarching issues in the 1975 referendum and looking ahead to the prospect (eventually) of further referendums on the subjects of EMU and a European constitution.
Download or read book Eu s Eastward Enlargement The Central And Eastern Europe s Strategies For Development written by Yoji Koyama and published by World Scientific. This book was released on 2014-12-09 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: Owing to the global financial crisis of 2007-2009 and subsequently the Eurozone crisis, the accession of Central and Eastern European countries to the European Union and the Eurozone has not been an easy one. The EU's Eastward Enlargement analyses challenges that these countries currently face in their pursuit of economic self-reliance. Covering a period from the second half of the 1980s to the present, Yoji Koyama provides unique and objective analyses of the European Union and the Euro system from a non-European's perspective. He offers a detailed reexamination of the fundamental problems of the European Union, which in turn have affected the autonomous development of countries such as Poland, the former Yugoslavia, Albania, and the Baltic States. This book is a useful addition to the scholarship available on the Euro system and Central and Eastern European countries. It will help readers gain a more holistic understanding of the ongoing Eurozone crisis and the future of the Eurozone project.
Download or read book Implications of the Euro written by Mark Baimbridge and published by Routledge. This book was released on 2006-05-02 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: To date, critical analysis of the EMU project has largely been advanced from the centre-right spectrum of British politics. Comparable questions from the centre-left have failed to find a coherent voice. Although, the European fault-line cannot be characterized as a neat Left-Right issue there are noticeable divisions in opinion across British business, the trade union movement and within the Labour Party. Offering a unique insight into this key debate from the ‘centre-left’, eurosceptic view point, this book provides a rigorous analysis of all the salient economic and political issues of concern, such as: * the economics of a single currency * employment and social implications * sovereignty * political determination. The arguments presented in this volume highlight the emergence of a coherent alternative to deepening economic integration as a platform to build a just and equitable society. Contributions are drawn from leading academics, trade union leaders and prominent politicians, both from the Labour Party and the wider progressive Left in British politics. This informative and thought provoking book will be indispensable reading for students and practitioners in economics, politics and international relations, as well as those interested in this highly contentious topic.
