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Author: Rishi Goyal Publisher: International Monetary Fund ISBN: 1475569823 Category : Business & Economics Languages : en Pages : 31
Book Description
The SDN elaborates the case for, and the design of, a banking union for the euro area. It discusses the benefits and costs of a banking union, presents a steady state view of the banking union, elaborates difficult transition issues, and briefly discusses broader EU issues. As such, it assesses current plans and provides advice. It is accompanied by three background technical notes that analyze in depth the various elements of the banking union: a single supervisory framework; a single resolution and common safety net; and urgent issues related to repair of weak banks in Europe.
Author: Rishi Goyal Publisher: International Monetary Fund ISBN: 1475569823 Category : Business & Economics Languages : en Pages : 31
Book Description
The SDN elaborates the case for, and the design of, a banking union for the euro area. It discusses the benefits and costs of a banking union, presents a steady state view of the banking union, elaborates difficult transition issues, and briefly discusses broader EU issues. As such, it assesses current plans and provides advice. It is accompanied by three background technical notes that analyze in depth the various elements of the banking union: a single supervisory framework; a single resolution and common safety net; and urgent issues related to repair of weak banks in Europe.
Author: Stephen Pickford Publisher: Chatham House ISBN: 9781784130138 Category : Business & Economics Languages : en Pages : 56
Book Description
The global economic and financial crisis that started in 2007 exposed serious flaws in the euro's original design. This report examines why Europe's economic and monetary union was so badly affected by the crisis, and assesses whether further changes need to be made to the structure of economic governance that underpins it. A Chatham House, Elcano and AREL Report
Author: Ms.Petya Koeva Brooks Publisher: International Monetary Fund ISBN: 1513566768 Category : Business & Economics Languages : en Pages : 286
Book Description
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: Publisher: ISBN: 9789295085336 Category : Languages : en Pages : 419
Book Description
This book tells the inside story of those who played key roles in setting up the organisations and combatting the crisis. In exclusive interviews, global financial leaders and ESM insiders provide a rich stock of perspectives and anecdotes that bring to life the urgency of the crisis as well as the innovative solutions found to resolve it. The European Stability Mechanism and its temporary predecessor the EFSF provided billions of euros in loans to five hard-hit euro area countries during the European financial and sovereign debt crisis of the early 2000s, helping to safeguard the stability of those countries and the euro area as a whole. Initially, the crisis-torn euro area was ill-equipped institutionally, but the rapid establishment of the firewalls, the assistance programmes, deep‐seated country reforms, the strengthening of European institutions, and extraordinary European Central Bank measures shielded Europe from a euro area break-up. With the EFSF/ESM set-up, its managers aspired to create a new, more entrepreneurial international financial institution, one that is agile enough to respond quickly to new challenges, while still ensuring the strict governance befitting an organisation pursuing a public mission. The euro area has emerged from near disaster in more robust shape. As Europe strives to further strengthen its architecture in preparation for any possible future crises, it is important to reflect upon how the euro area reinvigorated its fortunes and draw the relevant lessons for future crisis management in Europe and beyond.
Author: Mr.Jeffrey R. Franks Publisher: International Monetary Fund ISBN: 1484338499 Category : Business & Economics Languages : en Pages : 47
Book Description
We examine economic convergence among euro area countries on multiple dimensions. While there was nominal convergence of inflation and interest rates, real convergence of per capita income levels has not occurred among the original euro area members since the advent of the common currency. Income convergence stagnated in the early years of the common currency and has reversed in the wake of the global economic crisis. New euro area members, in contrast, have seen real income convergence. Business cycles became more synchronized, but the amplitude of those cycles diverged. Financial cycles showed a similar pattern: sychronizing more over time, but with divergent amplitudes. Income convergence requires reforms boosting productivity growth in lagging countries, while cyclical and financial convergence can be enhanced by measures to improve national and euro area fiscal policies, together with steps to deepen the single market.
Author: Dermot Hodson Publisher: Oxford University Press ISBN: 019957250X Category : Business & Economics Languages : en Pages : 185
Book Description
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: Ignazio Angeloni Publisher: Cambridge University Press ISBN: 1139438816 Category : Business & Economics Languages : en Pages : 515
Book Description
This 2003 book offers the most systematic analysis available of the impact of European Central Bank monetary policy on the national economies of the Eurozone. Analysing macro and micro-economic evidence, with chapters by central bank economists, including a discussion chapter by eminent macroeconomists, it is an essential contribution to research on the subject.
Author: Gustavo Adler Publisher: International Monetary Fund ISBN: 1513512153 Category : Business & Economics Languages : en Pages : 46
Book Description
The extensive use of the US dollar when firms set prices for international trade (dubbed dominant currency pricing) and in their funding (dominant currency financing) has come to the forefront of policy debate, raising questions about how exchange rates work and the benefits of exchange rate flexibility. This Staff Discussion Note documents these features of international trade and finance and explores their implications for how exchange rates can help external rebalancing and buffer macroeconomic shocks.
Author: Massimo Rostagno Publisher: Oxford University Press ISBN: 0192895915 Category : Business & Economics Languages : en Pages : 449
Book Description
The first twenty years of the European Central Bank offer a unique insight into how a central bank can navigate macroeconomic insecurity and crisis. This volume examines the structures and decision-making processes behind the complex measures taken by the ECB to tackle some of the toughest economic challenges in the history of modern Europe.
Author: Rishi Goyal
Author: Rishi Goyal
Author: Stephen Pickford
Author: Ms.Petya Koeva Brooks
Author: 
Author: 
Author: Mr.Jeffrey R. Franks
Author: Dermot Hodson
Author: Ignazio Angeloni
Author: Gustavo Adler
Author: Massimo Rostagno