Characteristics Of The Euro The Demand For Reserves And Policy Coordination Under Emu

Author : Mr.Paul R. Masson
Publisher : International Monetary Fund
ISBN 13 : 1451847823
Total Pages : 38 pages
Book Rating : 4.26/5 ( download)

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Download or read book Characteristics of the Euro, the Demand for Reserves, and Policy Coordination Under EMU written by Mr.Paul R. Masson and published by International Monetary Fund. This book was released on 1997-05-01 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: The success of European Economic and Monetary Union (EMU) will depend on the stability of the euro. The monetary policy framework is yet to be decided, but is likely to involve either money or inflation targeting. Stochastic simulations compare the outcomes for major macroeconomic and financial variables pre- and post-EMU under both policy rules, as well as under an inflation targeting rule that includes output. Implications for the euro as a reserve currency are examined in the light of the expected returns and covariances among reserve currencies. The role of the exchange rate as an indicator and incentives for policy coordination with other major countries are also discussed.

Author : Paul R. Masson
Publisher :
ISBN 13 :
Total Pages : 37 pages
Book Rating : 4.38/5 ( download)

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Download or read book Characteristics of the Euro, the Demand for Reserves, and Policy Coordination Under Emu written by Paul R. Masson and published by . This book was released on 2006 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: The success of European Economic and Monetary Union (EMU) will depend on the stability of the euro. The monetary policy framework is yet to be decided, but is likely to involve either money or inflation targeting. Stochastic simulations compare the outcomes for major macroeconomic and financial variables pre- and post-EMU under both policy rules, as well as under an inflation targeting rule that includes output. Implications for the euro as a reserve currency are examined in the light of the expected returns and covariances among reserve currencies. The role of the exchange rate as an indicator and incentives for policy coordination with other major countries are also discussed.

Author : Andrew J. Hughes Hallett
Publisher : Springer Science & Business Media
ISBN 13 : 1475747381
Total Pages : 222 pages
Book Rating : 4.86/5 ( download)

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Download or read book Challenges for Economic Policy Coordination within European Monetary Union written by Andrew J. Hughes Hallett and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: The launch of European Monetary Union (EMU) marked the beginning of a new era, and its establishment has proved an impressive success at the technical, legal, and procedural level. After all, EMU has accelerated economic and political integration in the European Union and tied the economies of the Member States closer together. However, the performance of the euro, high unemployment rates, uneven output and investment growth, and the issue of structural reforms that have yet to be tackled have raised questions about the performance of EMU in practice. There is a general consensus on the justification for economic policy coordination. The existing literature on economic policy coordination, however, seems far from able to provide robust conclusions about how to organize the necessary interaction of institutions and policies. Therefore, there seems to be a case for re-examining the subject under the new framework set by EMU. The objective of such a reassessment is to enhance the understanding of what type of coordination and what institutional setting for policy coordination can be expected to be most favorable. Challenges for Economic Policy Coordination within European Monetary Union provides an intellectually stimulating contribution to the ongoing debate.

Author : Marco Buti
Publisher : Oxford University Press
ISBN 13 : 9780198294771
Total Pages : 280 pages
Book Rating : 4.78/5 ( download)

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Download or read book Economic Policy in EMU written by Marco Buti and published by Oxford University Press. This book was released on 1998 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the advent of the third and final phase of European and Monetary Union (EMU), the debate over European monetary unification is at the top of the political and economic agenda. Much has been written over the past five years about whether EMU is justified given the various expected benefitsand prospective costs, but there has been little detailed material on how EMU will work and what the practical implications of it will be for Europe as a whole. Economic Policy in EMU is a comprehensive look at the mechanisms involved, likely effects on monetary and budgetary policy, and the ways in which monetary union will deal with and affect business cycles and regional differences. It combines rigorous analysis of how the European economy works withan insider view of how this will change after 1999: as such, it is vital reading for all involved in the most important topic facing Europe today.

Author : Thomas Moser
Publisher : Springer Science & Business Media
ISBN 13 : 1475751311
Total Pages : 324 pages
Book Rating : 4.14/5 ( download)

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Download or read book EMU, Financial Markets and the World Economy written by Thomas Moser and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is based on the conference "EMU and the Outside World", held at the Swiss Federal Institute of Technology (ETH), December 11, 1998. The conference was organized by the Swiss Institute for Business Cycle Research (KOF), which is supported jointly by the ETH and the Swiss Society for Business Cycle Research (SGK), an organization comprising representatives from private industry, the Swiss National Bank and public authorities. On the eve of the final stage of European Economic and Mone tary Union (EMU), Zurich seemed to be a particularly appropriate place for such a conference. On the one hand, given its location and economic and financial links with the euro area, Switzerland is one of the "outside coun tries" most affected by EMU. On the other hand, it was nowhere else than in Zurich where the vision of "a United States of Europe" was expressed for the first time by Winston Churchill in his speech on September 19, 1946. For many EMU is a step in that direction, whether welcome or not. Most of the papers appearing in this volume were presented at the con ference and have been revised and updated. Three contributions, chapter 11- 13, were commissioned specially for this publication. Besides the authors of the chapters, special thanks are due to Guido Boller, Robert McCauley, Umberto Schwarz, and Charles Wyplosz.

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1557757739
Total Pages : 272 pages
Book Rating : 4.39/5 ( download)

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Download or read book World Economic Outlook, October 1998 written by International Monetary Fund and published by International Monetary Fund. This book was released on 1998-11-12 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: The World Economic Outlook, published twice a year in English, French, Spanish, and Arabic, presents IMF staff economists analyses of global economic developments during the near and medium term. Chapters give an overview of the world economy; consider issues affecting industrial countries, developing countries, and economies in transition to market; and address topics of pressing current interest. Annexes, boxes, charts, and an extensive statistical appendix augment the text.

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 9781557756817
Total Pages : 240 pages
Book Rating : 4.13/5 ( download)

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Download or read book World Economic Outlook written by International Monetary Fund and published by International Monetary Fund. This book was released on 1997-10-15 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents an outlook for the world economy for 1997–98. With world output expected to expand by some 41⁄4 percent in both 1997 and 1998, the strongest pace in a decade, the global economy is enjoying the fourth episode of relatively rapid growth since the early 1970s. The expansion is underpinned by continued solid growth with low inflation in the United States and the United Kingdom; a strengthening recovery in Canada; a broadening of recovery across continental western Europe, notwithstanding persistent weakness in domestic demand in some of the largest countries.

Author : Daniel Gros
Publisher : John Wiley & Sons
ISBN 13 : 0470842768
Total Pages : 216 pages
Book Rating : 4.68/5 ( download)

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Download or read book The Euro Capital Market written by Daniel Gros and published by John Wiley & Sons. This book was released on 2001-12-11 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors predict that the impact will be far-reaching, leading to a more liquid, mature and efficient capital market. The structure of capital markets in Europe and the behaviour of actors in these markets will be fundamentally affected, leading to a more integrated market. For monetary union to achieve its real objective, policy makers will need to address a wide variety of outstanding issues, in particular the taxation of savings income, accounting standards, capital market regulation and financial supervision. The start of monetary union on 1 January 1999 launched a process of radical change in the structure of capital markets in Europe. Whereas previously, Europe had been fragmented into many diverse national markets, a single Euro capital market is now emerging. This book focuses on the long-term impact that the introduction of the euro will have on European capital markets and spells out implications for the financial sector and the wider economy. It discusses what further steps need to be taken to achieve a fully integrated market. In particular, the book examines: * The institutional and regulatory framework for European capital markets * The structure of European capital markets on the eve of EMU * The regional differences and the contrasts with the US capital market * The central role played by banks in European capital markets and the likelihood that a more market-based system may emerge * The implications of EMU for organised securities markets * The consequences for governance and policy, and more in particular for the taxation of savings income, securities market regulation and financial supervision

Author : Volker Clausen
Publisher : Springer Science & Business Media
ISBN 13 : 3642595650
Total Pages : 213 pages
Book Rating : 4.53/5 ( download)

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Download or read book Asymmetric Monetary Transmission in Europe written by Volker Clausen and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: The euro and the ESCB have started in January 1999 and there is naturally a wide-ranging interest in academia and among policymakers in OECD coun tries, how successful European Monetary Union will and can be. EMU has started with 11 countries and experienced a rapid depreciation of the cur rency. With so many EU countries joining for a historical monetary union in a period of economic globalization, international financial market changes and ongoing EU enlargement the problem of monetary policy efficiency becomes crucial; especially as so many countries in the EU still have high unemploy ment rates and the euro has just started at the beginning of a cyclical upswing in the euro zone. Monetary policy is also quite crucial, because the Maastricht convergence criteria severely restrict the scope of national fiscal policy. With a very limited stock of valuable European monetary experience which could be usefully exploited by the ECB and the ESCB respectively, one naturally will appreciate advanced economic modeling of the main issues. This book takes an analytical look at the problem of asymmetric monetary transmission in Euroland. Facing the ECB's monetary policy, individual mem ber countries are likely to experience different policy effects. Countries differ in their financial structure -a well-known argument in the literature -but also in the characteristics of goods and labor markets. The latter fields have been somewhat neglected in the literature but receive broad analytical attention here.

Author : Michael Artis
Publisher : Routledge
ISBN 13 : 1134604629
Total Pages : 454 pages
Book Rating : 4.23/5 ( download)

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Download or read book The Euro written by Michael Artis and published by Routledge. This book was released on 2012-10-12 with total page 454 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book leading financial professionals and academics examine the prospects for the European single currency. The impact of the Euro is assessed in terms of risks and opportunities for financial intermediaries, challenges for monetary and supervisory authorities and issues for portfolio management and corporate finance.