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European Monetary Union

Theory, Evidence, and Policy

Michael Carlberg (Autor)

Buch | Softcover

XIV, 257 Seiten

1999 | 1. Softcover reprint of the original 1st ed. 1999
Physica (Verlag)
978-3-7908-1191-9 (ISBN)

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This book explores the new macroeconomics of the European Monetary Union. It carefully discusses the effects of shocks and policy measures on em ployment, prices, and the current account. Take for instance a shock or a policy measure in a specific union country. Then what will be the results in the specific country, in the other union countries, and in the rest of the world? The targets of economic policy are full employment and price stability in each of the union of economic policy are monetary policy by the Euro countries. The instruments pean Central Bank and fiscal policies by national governments. What is the appropriate policy mix? A salient feature of this book is the numerical estimation of shock and policy multipliers. Money wages are fixed, flexible or downward rigid. The monetary union can be small or large. I had many helpful talks with Gerd Focke, Daphni-Marina Papadopoulou, Franco Reither, Wolf Schafer, Christine Schafer-Lochte, and Michael Schmid. In addition, Michael Brauninger and Michael Cyrus carefully discussed with me all parts of the manuscript. Last but not least, Doris Ehrich did the secretarial work as excellently as ever. I wish to thank all of them. Executive Summary 1) Small monetary union of two identical countries, say Gennany and France. The monetary union is a small open economy with perfect capital mobili ty. Let us begin with fiscal policy.

Brief Survey of the Literature.- One. Simple Models.- 1. Small Country in Large Union.- 2. Small Union as a Whole.- Two. Small Union.- 1. Small Union of Two Countries.- 2. Small Union of Three Countries.- 3. Small Union of Ten Countries.- 4. No Capital Mobility between Union and Rest of the World.- Three. Small Union and Associated Countries.- 1. Small Union as a Whole.- 2. Small Union of Two Countries.- 3. Summary.- Four. Large Union.- 1. Large Union and Rest of the World.- 2. Small Country in Large Union.- 3. Large Union of Two Countries.- 4. No Capital Mobility between Union and Rest of the World.- Five. Large Union and Associated Countries.- 1. Large Union as a Whole.- 2. Large Union of Two Countries.- 3. Summary.- Synopsis.- Conclusion.- Result.- Symbols.- References.

Erscheint lt. Verlag	29.3.1999
Reihe/Serie	Contributions to Economics
Zusatzinfo	XIV, 257 p.
Verlagsort	Heidelberg
Sprache	englisch
Maße	155 x 235 mm
Gewicht	406 g
Themenwelt	Sozialwissenschaften ► Politik / Verwaltung ► Europäische / Internationale Politik
	Wirtschaft ► Betriebswirtschaft / Management
	Wirtschaft ► Volkswirtschaftslehre ► Finanzwissenschaft
	Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie
Schlagworte	Economic Policy • Europäische Währungsunion • Europäische Währungsunion / Euroland • Europäische Zentralbank • european central bank • European Monetary Union • Fiscal Policy • Fiskalpolitik • Geldpolitik • Macroeconomics • monetary policy • Monetary Union • Preisstabilität • Price Stability • Währungsunion
ISBN-10	3-7908-1191-2 / 3790811912
ISBN-13	978-3-7908-1191-9 / 9783790811919
Zustand	Neuware