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Author: Michael Emerson Publisher: ISBN: 9780198773245 Category : Business & Economics Languages : en Pages : 356
Book Description
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.
Author: Michael Emerson Publisher: ISBN: 9780198773245 Category : Business & Economics Languages : en Pages : 356
Book Description
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.
Author: Francisco Torres Publisher: Cambridge University Press ISBN: 052144019X Category : Business & Economics Languages : en Pages : 406
Book Description
The Maastricht Treaty, signed in December 1991, set a timetable for the European Community's economic and monetary union (EMU) and clearly defined the institutional policy changes necessary for its achievement. Subsequent developments have demonstrated, however, the importance of many key issues in the transition to EMU that were largely neglected at the time. This volume reports the proceedings of a joint CEPR conference with the Banco de Portugal, held in January 1992. In these papers, leading international experts address the instability of the transition to EMU, the long-run implications of monetary union and the single market for growth and convergence in Europe. They also consider the prospects for inflation and fiscal convergence, regional policy and the integration of financial markets and fiscal systems. Attention focuses on adjustment mechanisms with differentiated shocks, region-specific business cycles and excessive industrial concentration and the cases for a two-speed EMU and fiscal federalism.
Author: Francesco Giavazzi Publisher: Cambridge University Press ISBN: 9780521389051 Category : Business & Economics Languages : en Pages : 452
Book Description
Recoge: 1. The international environment - 2. Disinflation, external adjustment and cooperation - 3. Exchange rates, capital mobility and monetary coordination - 4. The future og the European monetary system.
Author: Kpate Adjaouté Publisher: Centre for Economic Policy Research ISBN: 9781898128588 Category : Business & Economics Languages : en Pages : 78
Book Description
The advent of the euro is a significant event for portfolio managers, both within and outside the monetary union. The euro will affect portfolio decisions through a variety of channels and the emergence of a single currency marks the disappearance of explicit and psychological barriers to international investing. The set of investment opportunities qualifying as 'domestic' is expanding, while the need for diversification across currencies must now be met by an increased demand for assets which are not denominated in euros. This paper examines the principal factors influencing the portfolio reallocation process following the introduction of the euro. Three broad categories of possible portfolio allocation are considered: domestic versus non-domestic investment, debt versus equity investment, and public debt versus private debt investment.
Author: Peter B. Kenen Publisher: Cambridge University Press ISBN: 9780521467292 Category : Business & Economics Languages : en Pages : 370
Book Description
In the two decades prior to publication of this 1994 book, international monetary relations had been characterised by latent instability, and then by severe tensions. Yet the issue of reforming the international monetary system does not appear on the agenda of the policy makers of the major countries involved. The International Monetary System tries to analyse this apparent contradiction. It brings together contributions from some of the most authoritative academic economists and monetary officials, and examines each of the fundamental functions of the international monetary system. There is broad support for improving present monetary arrangements with the aim of ensuring more stable conditions in monetary and financial markets and of promoting the orderly adjustment of payments disequilibria. For political reasons a fully-fledged reform exercise is unlikely, but very few experts seem to like the status quo. This book provides the reader with a comprehensive account of the institutional and policy changes required to manage an increasingly integrated and interdependent global monetary and financial system.
Author: Mr.Thomas Krueger Publisher: International Monetary Fund ISBN: 9781557756640 Category : Business & Economics Languages : en Pages : 580
Book Description
This book, edited by Paul R. Masson, Thomas Krueger, and Bart G. Turtelboom, contains the proceedings of the seminar held in Washington, D.C. on March 17-18, 1997, cosponsored by the IMF and Fondation Camille Gutt. Conference participants discussed implications of European Economic and Monetary Union (EMU) on exchange and financial markets, and consequently on the activities of market participants and private and official institutions. The five main themes of the seminar were the characteristics of the euro and its potential role as an international currency; EMU and international policy coordination; EMU and the relationship between the IMF and its EMU members; lessons of European monetary integration for the international monetary system; and the transitioin to EMU.
Author: Ullrich Heilemann Publisher: Duncker & Humblot ISBN: 3428513983 Category : Business & Economics Languages : en Pages : 226
Book Description
This volume contains the contributions of a conference dealing with the consequences of the European Monetary Union for the macroeconometric modelling of the Euro area, which took place in Essen in 2000. At the end of the conference the participants were convinced that the discussions including a great variety of theoretical, methodical and factual aspects from the producers' as well as the consumers' perspective will not fail to have a certain impact on the future development of macroeconometric modelling in the Euro area. Once more it became clear, however, that an ideal way to a solution of the problems is still not in sight. The future development will be characterized by a plurality of approaches and models. Thus trends continue which have had a more or less strong, durable or temporary influence on the model landscape since the emergence of the monetarist revolution, the rational expectations" or the "real business cycle"-models. We are still at the beginning of the theoretical and empirical exploration of the macroeconomic development of the Euro area, it is not always clearly perceptible what is transitory and what is permanent, and this openness should facilitate the reception of the experiences and results which have been presented. The idea for this event was developed in the course of the Project LINK. One of the highlights of the conference was the participation of the nobel prize winner Professor Dr. Lawrence Klein - pioneer and Nestor of macroeconometric modelling - who, as his contribution shows, is following up the creation of the European Monetary Union with critical interest."
Author: Paul J.J. Welfens Publisher: Springer Science & Business Media ISBN: 3642569137 Category : Business & Economics Languages : en Pages : 184
Book Description
The creation of the European Central Bank and the Euro have brought new challenges to EU integration and economic policy. This book looks into issues of monetary and factor market policies. The analysis presents new theoretical and empirical research on the current decline of the Euro. Issues regarding exchange rate policies and international economic relations are also addressed.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1589060938 Category : Business & Economics Languages : en Pages : 167
Book Description
This paper reviews the coordinated portfolio investment survey (CPIS) guide. The objectives of CPIS are to collect comprehensive information, with geographical detail on the country of residence of the issuer, on the stock of cross-border equities, long-term bonds and notes, and short-term debt instruments for use in the compilation or improvement of international investment position statistics on portfolio investment capital. This paper discusses the scope and modalities of the CPIS. It also presents key findings of the 1997 CPIS and 2001 CPIS.
Author: Michael Emerson
Author: Michael Emerson
Author: Francisco Torres
Author: Vitor Gaspar
Author: Francesco Giavazzi
Author: Kpate Adjaouté
Author: Peter B. Kenen
Author: Mr.Thomas Krueger
Author: Ullrich Heilemann
Author: Paul J.J. Welfens
Author: International Monetary Fund