Macroeconomics of Monetary Union (eBook)

Michael Carlberg (Autor)

eBook Download: PDF

2007 | 2007
XVI, 284 Seiten
Springer Berlin (Verlag)
978-3-540-73633-2 (ISBN)

Infos

This is what we've all been waiting for - a book that demystifies the European community's monetary union. Unlike other books, this one provides readers with a practical yet sophisticated grasp of the macroeconomic principles necessary to understand a monetary union. The most important case in point is the Euro area, where policy targets are price stability and full employment. To illustrate all of this there are numerical simulations of monetary policy, fiscal policy, and wage policy.

Inhalt

Preface 5
Executive Summary 7
Contents in Brief 9
Introduction 17
1. Subject and Approach 17
2. Monetary Policy in Europe 18
3. Fiscal Policies in Germany and France 19
4. Monetary and Fiscal Competition 20
5. Monetary and Fiscal Cooperation 21
6. Wage Policies in Germany and France 22
7. Monetary and Wage Competition 23
8. Monetary and Wage Cooperation 24
Part One Monetary and Fiscal Policies Basic Models 25
Chapter 1 Monetary Policy in Europe 26
1. The Model 26
2. Some Numerical Examples 29
Chapter 2 Fiscal Policies in Germany and France 38
1. The Model 38
2. Some Numerical Examples 41
Chapter 3 Competition between European Central Bank, German Government, and French Government 44
1. The Dynamic Model 44
2. Some Numerical Examples 47
Chapter 4 Cooperation between European Central Bank, German Government, and French Government 57
1. The Model 57
2. Some Numerical Examples 59
Part Two Monetary and Fiscal Policies Intermediate Models 67
Chapter 1 Simultaneous Decisions: Cold-Turkey Policies 68
Chapter 2 Simultaneous Decisions: Gradualist Policies 73
Chapter 3 Fiscal Shocks in Germany 78
Chapter 4 The Countries Differ in Size 82
1. Monetary Policy in Europe 82
2. Fiscal Policies in Germany and France 86
3. Monetary and Fiscal Competition 89
Chapter 5 The Countries Differ in Behaviour 91
1. Monetary Policy in Europe 91
2. Fiscal Policies in Germany and France 93
3. Monetary and Fiscal Competition 96
4. Monetary and Fiscal Cooperation 98
Chapter 6 Rational Policy Expectations 100
Part Three Monetary and Fiscal Policies The Case of Three Countries 102
Chapter 1 Monetary Policy in Europe 103
1. The Model 103
2. Some Numerical Examples 106
Chapter 2 Fiscal Policies in Germany, France and Italy 110
Chapter 3 Monetary and Fiscal Competition 115
Chapter 4 Monetary and Fiscal Cooperation 122
Part Four Monetary and Wage Policies Basic Models 128
Chapter 1 Wage Policies in Germany and France 129
1. The Model 129
2. Some Numerical Examples 131
Chapter 2 Competition between European Central Bank, German Labour Union, and French Labour Union 135
1. The Dynamic Model 135
2. Some Numerical Examples 138
Chapter 3 Cooperation between European Central Bank, German Labour Union, and French Labour Union 148
1. The Model 148
2. Some Numerical Examples 150
Part Five Monetary and Wage Policies Intermediate Models 158
Chapter 1 Simultaneous Decisions: Cold-Turkey Policies 159
Chapter 2 Simultaneous Decisions: Gradualist Policies 163
Chapter 3 Wage Shocks in Germany 168
Chapter 4 The Countries Differ in Size 172
1. Wage Policies in Germany and France 172
2. Monetary and Wage Competition 175
Chapter 5 The Countries Differ in Behaviour 177
1. Wage Policies in Germany and France 177
2. Monetary and Wage Competition 179
3. Monetary and Wage Cooperation 181
Chapter 6 Rational Policy Expectations 184
Part Six Monetary and Wage Policies The Case of Three Countries 186
Chapter 1 Wage Policies in Germany, France and Italy 187
Chapter 2 Monetary and Wage Competition 192
Chapter 3 Monetary and Wage Cooperation 199
Part Seven Monetary, Fiscal and Wage Policies 205
Synopsis 225
1. Monetary and Fiscal Policies 225
2. Monetary and Wage Policies 228
Conclusion 231
1. Monetary Policy in Europe 231
2. Fiscal Policies in Germany and France 234
3. Monetary and Fiscal Competition 236
4. Monetary and Fiscal Cooperation 240
5. Wage Policies in Germany and France 244
6. Monetary and Wage Competition 246
7. Monetary and Wage Cooperation 251
Result 255
1. Monetary Policy in Europe 255
2. Fiscal Policies in Germany and France 257
3. Monetary and Fiscal Competition 258
4. Monetary and Fiscal Cooperation 260
The Current Research Project 267
References 270
Index 282

Produkt-Details

• Erscheint lt. Verlag: 24.7.2007
• Zusatzinfo: XVI, 284 p.
• Verlagsort: Berlin
• Sprache: englisch
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Unternehmensführung / Management
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre
• Schlagworte: Euro • European Monetary Union • Fiscal Policy • International Policy Coordination • Macroeconomics • monetary policy • Monetary Union • Simulation • Unions • Wage Policy
• ISBN-10: 3-540-73633-6 / 3540736336
• ISBN-13: 978-3-540-73633-2 / 9783540736332