Euro Area

Author : Miroslav Beblavý,David Cobham,L'udovít Ódor
Publisher : Cambridge University Press
Page : 128 pages
File Size : 52,9 Mb
Release : 2011-10-06
Category : Business & Economics
ISBN : 9781139503631

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The Euro Area and the Financial Crisis by Miroslav Beblavý,David Cobham,L'udovít Ódor Pdf

The financial crisis of 2007–10 has presented a number of key policy challenges for those concerned with the long-term stability of the euro area. It has shown that price stability as provided by the European Central Bank is not enough to guarantee financial stability, and exposed fault lines in governance and deficiencies in the architecture of the financial supervisory and regulatory framework. This book addresses these and other issues, including why the crisis affected some countries more than others, whether the euro is still attractive for new EU states, and what policy changes and structural reforms, both macro and micro, should be undertaken to ensure its future viability. Written by a team of leading academic and central bank economists, the book also includes chapters on the cross-country incidence of the crisis, the Irish crisis and ECB monetary policy during the crisis, and studies on Spain, the Baltics, Slovakia and Slovenia.

Author : Mauro Grande,Jesper Berg,Francesco Paolo Mongelli
Publisher : Routledge
Page : 260 pages
File Size : 48,7 Mb
Release : 2018-10-26
Category : Political Science
ISBN : 9780429828478

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Elements of the Euro Area by Mauro Grande,Jesper Berg,Francesco Paolo Mongelli Pdf

First published in 2005, this volume considers that, as time elapses since the introduction of the Euro, it is legitimate to start asking what impact the new currency and the single monetary policy have had on European integration. This book provides the most comprehensive review of financial integration in the euro area. The volume includes an introduction to the institutional features of the euro area and the literature on financial integration. It examines developments in the financial structures at large and moves forward to focus on specific areas pertaining to financial intermediaries, the bond and equity markets, and market-based debt finance. It is particularly suited to researchers and students of developments in the euro area, central banking, money and banking, as well as international relations and international business more generally. While the introductory chapters will help in bringing undergraduates on board, the later chapters will particularly benefit the early graduate student as well as the professional observer.

Author : Otmar Issing
Publisher : Cambridge University Press
Page : 220 pages
File Size : 40,5 Mb
Release : 2001-07-26
Category : Business & Economics
ISBN : 0521788889

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Monetary Policy in the Euro Area by Otmar Issing Pdf

A non-technical analysis of the monetary policy strategy, institutions and operational procedures of the Eurosystem, first published in 2001.

Author : Kenneth Dyson
Publisher : Oxford University Press
Page : 395 pages
File Size : 47,8 Mb
Release : 2006-11-02
Category : Business & Economics
ISBN : 9780199277674

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Enlarging the Euro Area by Kenneth Dyson Pdf

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. Thefinal 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.

Author : Gabriel Fagan,Julian Morgan
Publisher : Edward Elgar Publishing
Page : 336 pages
File Size : 40,8 Mb
Release : 2006-01-01
Category : Business & Economics
ISBN : 9781845428037

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Econometric Models of the Euro-area Central Banks by Gabriel Fagan,Julian Morgan Pdf

This book provides a description of the main macroeconomic models used by the European Central Bank and the euro area national central banks (Eurosystem). These models are used to help prepare economic projections and scenario analysis for individual countries and the euro area as a whole. The volume takes stock of the current macroeconometric modelling infrastructure available within the Eurosystem, highlighting not only the structures and main features of the models used but also their purposes and underlying model-building philosophies. A bird s eye view of the key details of the design, structure and characteristics of the models is provided, along with information on the responses of these models to a series of standard economic and policy shocks. This is the first time that a comprehensive description and systematic comparison of the main macroeconomic models has been published. This book will be of great interest to Central Bank and government economists, as well as academics, economists and students with an interest in central banking, econometric modelling, forecasting and macroeconomic policy.

Author : International Monetary Fund. European Dept.
Publisher : International Monetary Fund
Page : 94 pages
File Size : 47,6 Mb
Release : 2017-07-25
Category : Business & Economics
ISBN : 9781484312353

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Euro Area Policies by International Monetary Fund. European Dept. Pdf

This paper focuses on the convergence performance of euro area countries before and after euro introduction. The analysis compares per capita incomes across countries, both for the initial group of twelve countries that adopted the euro before 2002 (the so-called EA-12) as well as the current group of 19 euro area members (EA-19). The convergence process has stalled since the introduction of the euro, except for new euro area members which reduced their income gaps vis-à-vis the founding members until their adoption of the common currency. The convergence of income levels is not a prerequisite for a functioning monetary union, but has been considered an important objective of the European economic integration process. Lagging productivity growth in countries with lower initial GDP per capita is found to be the main explanation for the lack of convergence, suggesting that structural reforms can help to restart the convergence process.

Author : Dermot Hodson
Publisher : Oxford University Press
Page : 185 pages
File Size : 55,9 Mb
Release : 2011-08-25
Category : Business & Economics
ISBN : 9780199572502

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Governing the Euro Area in Good Times and Bad by Dermot Hodson Pdf

This volume offers a timely analysis of economic and monetary union at a time of heightened uncertainty about the future of the Euro. It explores the evolution of Euro area governance from the launch of the Euro in 1999 to the sovereign debt crisis that struck the Euro area in 2010.

Author : David J. Powell
Publisher : John Wiley & Sons
Page : 202 pages
File Size : 46,5 Mb
Release : 2013-08-14
Category : Business & Economics
ISBN : 9781118440049

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The Trader's Guide to the Euro Area by David J. Powell Pdf

The euro area remains in a state of flux and appears to be unsustainable in its present form. The outcome of the crisis may be unknown for years and a judgement on the project’s success or failure may be out of reach for decades. In the meantime, analysts, portfolio managers and traders will still have daily, weekly, quarterly and annual benchmarks. They will have to analyze economic developments in the euro area and their impacts on financial assets. The objective of this book is to provide a framework for that analysis that is comprehensible to most financial market participants. The book begins with a focus on coincident and leading economic indicators for the euro area. The following section looks at euro-area institutions. The next chapter focuses on the euro crisis. It attempts to provide an explanation of its origins and a glimpse of the potential outcomes. In addition, the tools needed to analyze the crisis as it evolves are presented. The last sections provide information unique to the economies of Germany, France, the U.K., Switzerland, Sweden and Norway.

Author : Lucrezia Reichlin
Publisher : Centre for Economic Policy Research
Page : 103 pages
File Size : 48,6 Mb
Release : 2004
Category : Business cycles
ISBN : 9781898128830

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The Euro Area Business Cycle by Lucrezia Reichlin Pdf

Author : Petya Koeva Brooks,Mahmood Pradhan
Publisher : International Monetary Fund
Page : 286 pages
File Size : 47,7 Mb
Release : 2015-10-21
Category : Business & Economics
ISBN : 9781513566764

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The Mechanics of a Strong Euro Area by Petya Koeva Brooks,Mahmood Pradhan Pdf

The euro area has experienced an unprecedented economic downturn and exceptional financial market turmoil in the past few years. Policymakers have faced the twin challenges of addressing cyclical economic weakness-not unlike other industrial countries following the global economic crisis-and the underlying weaknesses in the architecture of the currency union, weaknesses that appear to have been masked during the first relatively calm years of Economic and Monetary Union (EMU). Among member states, many structural weaknesses were exposed when economic performance declined significantly and financial markets became more discerning.This book focuses on the analytical underpinnings of real-time policy advice given to euro area policymakers during four cycles of the IMF's annual Article IV consultations (2012-15) with euro area authorities.

Author : Alicia Hinarejos Parga
Publisher : Oxford Studies in European Law
Page : 241 pages
File Size : 45,9 Mb
Release : 2015
Category : Law
ISBN : 9780198714958

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The Euro Area Crisis in Constitutional Perspective by Alicia Hinarejos Parga Pdf

The euro area sovereign debt crisis has been the greatest threat to the euro since its inception, but the consequences of the crisis go well beyond the realm of macroeconomics: the crisis has cast doubt on the viability of a mechanism of integration such as the one envisaged in Economic and Monetary Union (EMU), and on the future of the European Union as a political project in the face of citizens' growing disaffection. The various responses to the crisis have not only altered the principles underlying EMU; they have also had a profound impact on the constitutional orders of the EU and its Member States. This book focuses on the euro area crisis and its aftermath from a constitutional perspective. It provides a critical analysis of the workings and evolution of Economic and Monetary Union, the changes brought by the crisis and their broader effects, and the constitutional obstacles to integration in this area. Looking forward, it tackles the uncertain future of economic and fiscal integration and the challenges posed. This is a compelling and incisive account of some of the most significant developments and dilemmas facing the European Union since its creation.

Author : International Monetary Fund. European Dept.
Publisher : International Monetary Fund
Page : 112 pages
File Size : 55,5 Mb
Release : 2015-07-27
Category : Business & Economics
ISBN : 9781513540917

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Euro Area Policies by International Monetary Fund. European Dept. Pdf

Euro Area Policies: Selected Issues

Author : Davide Furceri,Ms.Aleksandra Zdzienicka
Publisher : International Monetary Fund
Page : 34 pages
File Size : 47,6 Mb
Release : 2013-09-25
Category : Business & Economics
ISBN : 9781484334201

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The Euro Area Crisis by Davide Furceri,Ms.Aleksandra Zdzienicka Pdf

The aim of this paper is to assess the effectiveness of risk sharing mechanisms in the euro area and whether a supranational fiscal risk sharing mechanism could insure countries against very severe downturns. Using an unbalanced panel of 15 euro area countries over the period 1979-2010, the results of the paper show that: (i) the effectiveness of risk sharing mechanisms in the euro area is significantly lower than in existing federations (such as the U.S. and Germany) and (ii) it falls sharply in severe downturns just when it is needed most; (iii) a supranational fiscal stabilization mechanism, financed by a relatively small contribution, would be able to fully insure euro area countries against very severe, persistent and unanticipated downturns.

Author : Luca Lionello
Publisher : Springer Nature
Page : 243 pages
File Size : 42,6 Mb
Release : 2019-10-14
Category : Law
ISBN : 9783030280451

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The Pursuit of Stability of the Euro Area as a Whole by Luca Lionello Pdf

This book analyses the ongoing reform of the European economic union in the light of the new objective of ‘stability of the euro area as a whole’ in Article 136(3) TFEU. On the basis of the relevant legal sources, it qualifies this objective as the obligation to preserve the existence of the monetary union, the establishment of which was an EU goal laid down in Article 3(4) TEU. While to date the objective has been achieved through fiscal and macroeconomic consolidation in the member states and the activation of stabilisation mechanisms in cases of emergency, the book argues that full stability requires a better system of economic governance, either through a process of partial fiscal centralisation or the return to a more efficient and sustainable market discipline of public finances. It also analyses the concrete legal challenges these raise, including compliance with the conferral principle, the longstanding democratic deficit of the governance and the balance between financial solidarity and fiscal responsibility.

Author : International Monetary Fund. European Dept.
Publisher : International Monetary Fund
Page : 18 pages
File Size : 49,5 Mb
Release : 2023-07-19
Category : Business & Economics
ISBN : 9798400248733

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Euro Area Policies by International Monetary Fund. European Dept. Pdf

Euro Area Policies: Selected Issues