Economics of monetary union
| Published: | Oxford [u.a.] : Oxford Univ. Press, 2014 |
|---|---|
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| Format: | Book / Printed Book |
| Language: | English |
| Edition: | 10. ed |
| Physical description: | X, 267 S. : graph. Darst. |
| Item Description: |
Literaturverz. S. [243] - 255 |
| ISBN: | 9780199684441 |
| Classification - More hits on the same topic: | EG: VI Da = Länder: Europäische Union: Volkswirtschaft. |
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De Grauwe, Paul <<[VerfasserIn]>> Economics of monetary union Paul de Grauwe 10. ed Oxford [u.a.] Oxford Univ. Press 2014, 2014 X, 267 S. : graph. Darst Lehrbuch Literaturverz. S. [243] - 255 Grauwe, Paul <<de>> DeGrauwe, Paul DeGrauwe, P. http://swbplus.bsz-bw.de/bsz405262035inh.pdf ToC Völkerrecht Heidelberg VIEW |
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De Grauwe, Paul <<[VerfasserIn]>> |
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De Grauwe, Paul <<[VerfasserIn]>> Economics of monetary union |
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De Grauwe, Paul <<[VerfasserIn]>> De Grauwe, Paul <<[VerfasserIn]>> |
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Economics of monetary union |
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Economics of monetary union |
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Economics of monetary union Paul de Grauwe |
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Economics of monetary union Paul de Grauwe |
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Economics of monetary union Paul de Grauwe |
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economics of monetary union paul de grauwe |
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Oxford Univ. Press |
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2014 |
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X, 267 S. : graph. Darst |
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10. ed |
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CONTENTS INTRODUCTION PART 1 COSTS AND BENEFITS OF MONETARY UNION 1 THE COSTS OF A COMMON CURRENCY INTRODUCTION 1.1 SHIFTS IN DEMAND (MUNDELL) 1.2 MONETARY INDEPENDENCE AND GOVERNMENT BUDGETS 1.3 ASYMMETRIC SHOCKS AND DEBT DYNAMICS 1.4 BOOMS AND BUSTS IN A MONETARY UNION 1.5 MONETARY UNION AND BUDGETARY UNION 1.6 PRIVATE INSURANCE SCHEMES 1.7 DIFFERENCES IN LABOUR MARKET INSTITUTIONS 1.8 DIFFERENCES IN LEGAL SYSTEMS 1.9 CONCLUSION 2 THE THEORY OF OPTIMUM CURRENCY AREAS: A CRITIQUE INTRODUCTION 2.1 HOW RELEVANT ARE THE DIFFERENCES BETWEEN COUNTRIES? 2.2 HOW EFFECTIVE ARE NATIONAL MONETARY POLICIES? 2.3 NATIONAL MONETARY POLICIES, TIME CONSISTENCY, AND CREDIBILITY 2.4 MUNDELL ONCE MORE 2.5 THE COST OF MONETARY UNION AND THE OPENNESS OF COUNTRIES 2.6 CONCLUSION 3 THE BENEFITS OF A COMMON CURRENCY INTRODUCTION 3.1 DIRECT GAINS FROM THE ELIMINATION OF TRANSACTION COSTS 3.2 INDIRECT GAINS FROM THE ELIMINATION OF TRANSACTION COSTS: PRICE TRANSPARENCY 3.3 WELFARE GAINS FROM LESS UNCERTAINTY 3.4 EXCHANGE RATE UNCERTAI |
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[243] - 255 8 a9780199684441 3 a9780199684441 aEG: VI Da aEG: VI Da aVolkswirtschaft. aEG: VI Da aGrauwe, Paul <<de>> aDeGrauwe, Paul aDeGrauwe, P. uhttp://swbplus.bsz-bw.de/bsz405262035inh.pdf 3ToC mVölkerrecht Heidelberg zVIEW aCONTENTS INTRODUCTION PART 1 COSTS AND BENEFITS OF MONETARY UNION 1 THE COSTS OF A COMMON CURRENCY INTRODUCTION 1.1 SHIFTS IN DEMAND (MUNDELL) 1.2 MONETARY INDEPENDENCE AND GOVERNMENT BUDGETS 1.3 ASYMMETRIC SHOCKS AND DEBT DYNAMICS 1.4 BOOMS AND BUSTS IN A MONETARY UNION 1.5 MONETARY UNION AND BUDGETARY UNION 1.6 PRIVATE INSURANCE SCHEMES 1.7 DIFFERENCES IN LABOUR MARKET INSTITUTIONS 1.8 DIFFERENCES IN LEGAL SYSTEMS 1.9 CONCLUSION 2 THE THEORY OF OPTIMUM CURRENCY AREAS: A CRITIQUE INTRODUCTION 2.1 HOW RELEVANT ARE THE DIFFERENCES BETWEEN COUNTRIES? 2.2 HOW EFFECTIVE ARE NATIONAL MONETARY POLICIES? 2.3 NATIONAL MONETARY POLICIES, TIME CONSISTENCY, AND CREDIBILITY 2.4 MUNDELL ONCE MORE 2.5 THE COST OF MONETARY UNION AND THE OPENNESS OF COUNTRIES 2.6 CONCLUSION 3 THE BENEFITS OF A COMMON CURRENCY INTRODUCTION 3.1 DIRECT GAINS FROM THE ELIMINATION OF TRANSACTION COSTS 3.2 INDIRECT GAINS FROM THE ELIMINATION OF TRANSACTION COSTS: PRICE TRANSPARENCY 3.3 WELFARE GAINS FROM LESS UNCERTAINTY 3.4 EXCHANGE RATE UNCERTAINTY AND ECONOMIC GROWTH : 3.5 MONETARY UNION AND TRADE: THE EMPIRICAL EVIDENCE 3.6 BENEFITS OF AN INTERNATIONAL CURRENCY 3.7 BENEFITS OF A MONETARY UNION AND THE OPENNESS OF COUNTRIES 3.8 CONCLUSION VI CONTENTS 4 COSTS AND BENEFITS COMPARED 70 INTRODUCTION 70 4.1 COSTS AND BENEFITS COMPARED 70 4.2 MONETARY UNION, PRICE AND WAGE RIGIDITIES, AND LABOUR MOBILITY 73 4.3 ASYMMETRIC SHOCKS AND LABOUR MARKET FLEXIBILITY 74 4.4 THE DEGREE OF COMPLETENESS OF A MONETARY UNION 79 4.5 COSTS AND BENEFITS IN THE LONG RUN 80 4.6 THE CHALLENGE OF ENLARGEMENT OF EMU 84 47 SHOULD THE UKJOIN EMU? 87 4.8 IS LATIN AMERICA AN OPTIMAL CURRENCY AREA? 91 4.9 THE NEXT MONETARY UNION IN ASIA? 92 4.10 MONETARY UNIONS IN AFRICA 95 4.11 CONCLUSION 97 PART 2 MONETARY UNION 5 THE FRAGILITY OF INCOMPLETE MONETARY UNIONS 101 INTRODUCTION 101 5.1 FIXED EXCHANGE RATES REGIMES AS INCOMPLETE MONETARY UNIONS 102 5.2 A MONETARY UNION WITHOUT A BUDGETARY UNION 109 a5.3 MORE BAD NEWS ABOUT BAD EQUILIBRIA: BANKING CRISES 113 5.4 MORE BAD NEWS ABOUT BAD EQUILIBRIA: AUTOMATIC STABILIZERS 113 5.5 CONCLUSION 118 6 HOW TO COMPLETE A MONETARY UNION 119 INTRODUCTION 119 6.1 THE ROLE OF THE CENTRAL BANK: LENDER OF LAST RESORT 120 6.2 CONSOLIDATING GOVERNMENT BUDGET AND DEBTS 124 6.3 COORDINATION OF BUDGETARY AND ECONOMIC POLICIES 126 6.4 THE THEORY OF OPTIMAL CURRENCY AREAS AND POLITICAL UNION 127 6.5 HOW DOES POLITICAL INTEGRATION AFFECT THE OPTIMALITYOFA MONETARY UNION? 129 6.6 AN OMITTED'DEEP'VARIABLE 133 6.7 CONCLUSION 133 7 THE TRANSITION TO A MONETARY UNION 134 INTRODUCTION 134 7.1 THE MAASTRICHT TREATY 134 7.2 WHY CONVERGENCE REQUIREMENTS? 136 CONTENTS VII 7.3 TECHNICAL PROBLEMS DURING THE TRANSITION: HOW TO FIX THE CONVERSION RATES 7.4 HOW TO ORGANIZE RELATIONS BETWEEN THE 'INS' AND THE 'OUTS' 7.5 CONCLUSION 8 THE EUROPEAN CENTRAL BANK INTRODUCTION 8.1 THE DESIGN OF THE ECB: THE MAASTRICHT TREATY 8.2 WHY HAS THE GERMAN MODEL PREVAILED? 8.3 THE ECB: A 'CONSERVATIVE' CENTRAL BANK? 8.4 INDEPENDENCE AND ACCOUNTABILITY 8.5 THE ECB: INSTITUTIONAL FRAMEWORK 8.6 THE ECB AS LENDER OF LAST RESORT 8.7 DID THE ECB VIOLATE ITS STATUTES WHEN IT ANNOUNCED ITS GOVERNMENT BOND BUYING PROGRAMME (OMT)? 8.8 BANK SUPERVISION AND FINANCIAL STABILITY IN THE EUROZONE 8.9 THE NEW FINANCIAL REGULATORY AND SUPERVISORY STRUCTURE IN THE EU 8.10 CONCLUSION 9 MONETARY POLICY IN THE EUROZONE INTRODUCTION 9.1 CENTRA! BANKING AND ASYMMETRIES OF SHOCKS 9.2 THE MONETARY POLICY STRATEGY OF THE ECB: A DESCRIPTION 9.3 THE MONETARY POLICY STRATEGY OF THE ECB: AN EVALUATION 9.4 THE INSTRUMENTS OF MONETARY POLICY IN THE EUROZONE 9.5 THE EUROSYSTEM AS LENDER OF LAST RESORT DURING THE FINANCIAL CRISIS 9.6 CONCLUSION 10 FISCAL POLICIES IN MONETARY UNIONS INTRODUCTION 10.1 FISCAL POLICIES AND THE THEORY OF OPTIMUM CURRENCY AREAS 10.2 SUSTAINABILITY OF GOVERNMENT BUDGET DEFICITS a10.3 THE ARGUMENT FOR RULES ON GOVERNMENT BUDGET DEFICITS 10.4 FISCAL DISCIPLINE IN MONETARY UNIONS 10.5 RISKS OF DEFAULT AND BAILOUT IN A MONETARY UNION 10.6 THE STABILITY AND GROWTH PACT: AN EVALUATION 10.7 A JOINT ISSUE OF COMMON BONDS 10.8 CONCLUSION 11 THE EURO AND FINANCIAL MARKETS INTRODUCTION 142 146 147 148 148 148 150 153 156 160 163 165 166 169 172 173 173 173 180 184 197 201 203 205 205 205 209 215 218 222 223 224 226 228 228 VIII CONTENTS 11.1 EMU AND FINANCIAL MARKET INTEGRATION IN EUROPE 228 11.2 WHY FINANCIAL MARKET INTEGRATION IS IMPORTANT IN A MONETARY UNION 232 11.3 CONDITIONS FOR THE EURO TO BECOME AN INTERNATIONAL CURRENCY 235 11.4 CONCLUSION 242 REFERENCES INDEX 256 cEG: VI Da: 21/10 mBOOK aVRH50 bMPVRH cInstitutsbibliothek dEG: VI Da: 21/10 eavailable tVerfügbar f1 g0 hN i6 jBIB ki |