Download or read book Overshooting the Maastricht Criteria written by Menbere Workie Tiruneh and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: While mainstream economists were convinced they had solved the business cycle phenomena of macroeconomic policy making, the Great Recession has once again underscored the verdict of history, where every boom has almost always been accompanied by a bust and recession. The book discusses theoretical controversies and state-of-the art empirical studies on the link between external imbalances and real income convergence in the European Union. The book shows successful real income convergence across the European Union on the country level and pinpoints persistent regional disparities within countries in most of the member states of the European Union. The book addresses broader aspects of external imbalances and their key determinants and provides fresh empirical and exploratory evidence on paradigm shifts in the past several decades. This book also empirically estimates both the causality between public debt and economic growth as well as the optimum level of public debt for EU member states. Additionally, the book discusses the link between illicit capital flows and external imbalances in the European Union. Overall, the book critically investigates both theoretical frameworks of global imbalances and systematically evaluates milestones and paradigm shifts in global imbalances; it also offers new empirical results based on the panel data of both old and new EU member states in the past several decades. Finally, the book addresses a number of the policy challenges, disputes and controversies in the European Union in terms of solving the ongoing external imbalances and harmonizing policies to prevent future challenges.
Download or read book Business Cycles and Macroeconomic Stability written by Jean-olivier Hairault and published by Springer Science & Business Media. This book was released on 1997-04-30 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: Setting the issue "Most economists consider the marked increase in automatic stabilizers a highly favorable development with respect to maintenance of economic stability". Besides the rare privilege of having being signed by both Milton Friedman and Paul Samuelson (Depres,Friedman, Hart, Samuelson, and Wallace [1950]), among others, this sentence expressed as soon as 1950 the consensus view on the stabilizing effect of fiscal rules governing tax revenue and public expendi tures and transfers. This positive ex ante assessment will have been confirmed ex post as part of the explanation for post war stabilization (Burns [1960], de Long and Summers [1986], Moore and Zarnovitz [1986]). However, it becomes disputed in both its positive and normative aspects. Many institutional changes since the eighties point at curbing back the transfer mechanisms underlying automatic stabilizers, and legal restraints on deficits such as the US balanced budget amendment or the European Maastricht criteria would involve serious risks for the future of stabilizers. Under such rules "the government would become, almost inevitally, a destabilizer rather than a stabilizer" said Joseph Stiglitz, quoted by the New York Times (April 1995)). "Built-in stabilizers are automatic fiscal adjustments that reduce the national income multiplier and thus cushion the effects of changes in autonomous spend ing on the level of income" (Pechman [1987]). Early analyses of the automatic fiscal stabilizers include the contributions of A. G. Hart [1945], R. Musgrave and M. Miller (1948) and E. C. Brown (1955).
Download or read book Elements of International Economics written by Giancarlo Gandolfo and published by Springer Science & Business Media. This book was released on 2013-04-09 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modern economies become more and more open and the external sector of an economy becomes more and more important. This textbook aims at clarify ing how an open economy functions, in particular at explaining the determi nants of international fiows of commodities and financial assets. It also aims at examining the effects of these fiows on the domestic and international econ omy and the possible policy acti.ons at the national and international level. Particular attention will be paid to the problems of international economic at both the commercial and monetary level. integration Students will be able to read and interpret the balance of payments of a country, evaluating the various types of balance, to explain the behaviour of commercial fiows in the light of the theories studied, to analyze fiows of financial assets according to interest-rate differentials and other elements, to study the forces that determine exchange rates and cause currency crises, to understand the reasons behind international economic integration such as the European Union, to evaluate the effects of national and international policies.
Download or read book International Macroeconomics written by Peter J. Montiel and published by John Wiley & Sons. This book was released on 2009-05-04 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: International Macroeconomics provides students with an analytically rigorous introduction to the impact of globalization on macroeconomics. Presents an analytically rigorous introduction to the field and uniquely includes optional econometric studies Provides a unified macroeconomic model to examine rigorously international macroeconomics and then focuses this model on historic cases, institutions, and specific countries, dealing with various types of macroeconomic crises Provides a strong policy orientation by an author who worked for many years at the IMF Is supported by a website with extensive solutions for the problem sets, PowerPoint slides, and an update on the 08-09 meltdown
Download or read book The Euro and the Battle of Ideas written by Markus K. Brunnermeier and published by Princeton University Press. This book was released on 2016-08-04 with total page 457 pages. Available in PDF, EPUB and Kindle. Book excerpt: How philosophical differences between Eurozone nations led to the Euro crisis—and where to go from here Why is Europe's great monetary endeavor, the Euro, in trouble? A string of economic difficulties in Greece, Ireland, Spain, Italy, and other Eurozone nations has left observers wondering whether the currency union can survive. In this book, Markus Brunnermeier, Harold James, and Jean-Pierre Landau argue that the core problem with the Euro lies in the philosophical differences between the founding countries of the Eurozone, particularly Germany and France. But the authors also show how these seemingly incompatible differences can be reconciled to ensure Europe’s survival. As the authors demonstrate, Germany, a federal state with strong regional governments, saw the Maastricht Treaty, the framework for the Euro, as a set of rules. France, on the other hand, with a more centralized system of government, saw the framework as flexible, to be overseen by governments. The authors discuss how the troubles faced by the Euro have led its member states to focus on national, as opposed to collective, responses, a reaction explained by the resurgence of the battle of economic ideas: rules vs. discretion, liability vs. solidarity, solvency vs. liquidity, austerity vs. stimulus. Weaving together economic analysis and historical reflection, The Euro and the Battle of Ideas provides a forensic investigation and a road map for Europe’s future.
Download or read book Monthly Report of the Deutsche Bundesbank written by and published by . This book was released on 2003 with total page 654 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Europe Beyond the Euro written by Charles Enoch and published by Springer Nature. This book was released on 2021-09-24 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book observes that a key determinant of Europe’s welfare over the coming decades will be how the region manages crises, both financial and societal. It examines how key institutional developments, such as Economic and Monetary Union, reflected differentiated integration (DI) in the EU, but argues that modern-day risks are highly interconnected, and their management therefore has to be inclusive. In that connection it looks in particular at the European Systemic Risk Board (ESRB), whose mandate to protect financial stability also gives it relevance with regard to other crises. The book considers that the strengthening of this institution, and bringing it to the fore, would help EU member states, as well as countries around the EU including applicant nations, to manage financial and societal risks, including COVID-19 and the transition to a green economy, thus safeguarding the economies of Europe. It builds on a model of the EU allowing for DI in some activities, while ensuring sound governance arrangements between those inside and those outside that activity, and embodying inclusivity in the fundamentals of the EU, including in the management of risk.
Download or read book Real Convergence in Central Eastern and South Eastern Europe written by Reiner Martin and published by Palgrave MacMillan. This book was released on 2009-02-27 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Real convergence has gained substantial momentum in central, eastern and south-eastern Europe. Countries in these regions are all involved in the European integration process, either as recently joined EU member states, candidate countries, or potential candidates for membership. It has therefore become increasingly important to consider methods of catching up, to explore cross-country differences and to review key policy challenges for the convergence process. Through considering these issues in detail, prospects for future adoption of the euro can also be assessed. This book brings together policymakers, high-level practitioners, academics, and experts from central banks and international institutions in order to explore the key policy challenges facing the convergence process. Contributions focus especially on inflation, growth, migration and the balance of payments. This book is an essential read for all scholars interested in the transition of central, eastern and south-eastern Europe, and in the process of EU integration and enlargement."--Book cover.
Download or read book The 1997 CIA World Factbook written by United States. Central Intelligence Agency and published by DigiCat. This book was released on 2022-09-04 with total page 1982 pages. Available in PDF, EPUB and Kindle. Book excerpt: DigiCat Publishing presents to you this special edition of "The 1997 CIA World Factbook" by United States. Central Intelligence Agency. DigiCat Publishing considers every written word to be a legacy of humankind. Every DigiCat book has been carefully reproduced for republishing in a new modern format. The books are available in print, as well as ebooks. DigiCat hopes you will treat this work with the acknowledgment and passion it deserves as a classic of world literature.
Download or read book International Finance and Open Economy Macroeconomics written by Giancarlo Gandolfo and published by Springer Science & Business Media. This book was released on 2002-06-26 with total page 646 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book deals with the financial side of international economics and covers all aspects of international finance. There are many books and articles by exponents of alternative points of view. I know of no other book that provides the scope, balance, objectivity and rigor of the book." (Professor Jerome L. Stein, Brown University) From the reviews: "In this survey of international finance and open-economy macroeconomics, Gandolfo succeeds in meeting the needs of advanced undergraduate or lower-level graduate students through a largely textual and graphical approach, while at the same time presenting in the appendices explicit mathematical analyses for more advanced graduate students." (Journal of Banking & Finance 2004)
Download or read book Monthly Report written by and published by . This book was released on 2003 with total page 630 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The World Factbook written by and published by . This book was released on 1997 with total page 708 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Reshaping Economic and Monetary Union written by Shawn Donnelly and published by Manchester University Press. This book was released on 2004 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following Maastricht, national governments found themselves pushed into distinctive roles, as promoters, gatekeepers, reformers and defectors, as voter preferences and central bank powers combined in different ways to create clear incentives for politicians. These roles explain the push from certain countries for specific changes to EMU rules, why some countries needed EMU more than others and under what conditions pressure to create an economic government for Europe could succeed or fail.
Download or read book Germany and the Politics of Europe s Money written by Karl Kaltenthaler and published by Duke University Press. This book was released on 1998 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: As countries in the European Union struggle to comply with the Maastricht Treaty, the question of monetary integration is at the forefront of European politics. This book explores how and why Germany--whose economic power makes it a pivotal player--has developed inconsistent policies toward European monetary institutions and how these institutions affect domestic politics and state policies toward the institutions.
Download or read book FBIS Daily Report written by and published by . This book was released on 1996 with total page 512 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Political Economy of Monetary Union written by Francesco Giordano and published by Routledge. This book was released on 2013-10-18 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book places the whole issue of monetary union in its wider political economic context. The authors discuss: * the effect of EMU on fiscal and monetary policies * Central bank independence * the impact of EMU on unemployment * ERM II * international perspectives. Drawing on their experience in the European financial markets, the authors use a non-technical approach to discuss these issues - both in a general european sense and more specifically, Germany, the UK and Italy.
Download or read book The Euro written by David Marsh and published by Yale University Press. This book was released on 2011-08-23 with total page 632 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the first comprehensive political and economic account of the birth and development of the Euro. Today the Euro is the supranational currency for sixteen European countries and the world's second-largest reserve currency. David Marsh tells the story of the rivalries, intrigues, and deal making that brought about a currency for Europe, and he analyzes the achievements and shortcomings of its first decade of existence. While the Euro represents a remarkable triumph of political will, great pressures are building on the single currency. Drawing on more than 100 interviews with leading figures associated with the Euro, and scores of secret documents from international archives, Marsh underscores the Euro's importance for the global economy, in particular for U.S. and British economic and political agendas. Hidden facts and fresh insights from The Euro --How the legacy of France and Germany's tortuous relations affects the Euro--Why the United Kingdom is unlikely to accept the Euro before 2025--The impact on the Euro of the U.S. credit crisis--How the Euro has rebounded against the aspirations of its founders--How Italy and Spain have massively lost competitiveness--Why radical changes must be adopted to prevent a European upheaval
