Macroeconomics of Monetary Union

Macroeconomics of Monetary Union
Author: Michael Carlberg
Publisher: Springer Science & Business Media
Total Pages: 285
Release: 2007-07-24
Genre: Business & Economics
ISBN: 3540736336

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.

Economic Policy in a Monetary Union

Economic Policy in a Monetary Union
Author: Michael Carlberg
Publisher: Springer Science & Business Media
Total Pages: 316
Release: 2012-12-06
Genre: Business & Economics
ISBN: 3642572901

This book explores the scope and limits of macroeconomic policy in a monetary union. The focus is on pure policies, policy mixes, and policy coordination. The leading protagonists are the union central bank, national governments, and national trade unions. Special emphasis is put on wage shocks and wage restraint. This book develops a series of basic, intermediate, and advanced models. The monetary union is an open economy with high capital mobility. The exchange rate between the monetary union and the rest of the world is floating. The world interest rate can be exogenous or endogenous. The union countries may differ in money demand, consumption, imports, openness, or size. A striking feature is the numerical estimation of policy multipliers. A lot of diagrams serve to illustrate the subject in hand.

Macroeconomic Analysis of Monetary Unions

Macroeconomic Analysis of Monetary Unions
Author: Oscar Bajo-Rubio
Publisher: Springer Science & Business Media
Total Pages: 53
Release: 2011-05-06
Genre: Business & Economics
ISBN: 3642194451

The book develops a general framework for the macroeconomic modeling of monetary unions. The starting point of the analysis is the standard two-country Mundell-Fleming model with perfect capital mobility, extended to incorporate the supply side in a context of rigid real wages, and modified so that the money market is common for two countries forming a monetary union. The model is presented in two versions: for a small and a large monetary union, respectively. After solving each model, the authors derive multipliers for monetary, expenditure, supply, and external shocks, both in the short and the long run; a graphical analysis is also provided. Special attention is paid to the crucial distinction between symmetric and asymmetric shocks.

The Macroeconomics of Monetary Union

The Macroeconomics of Monetary Union
Author: David Fielding
Publisher: Routledge
Total Pages: 210
Release: 2005-11-04
Genre: Business & Economics
ISBN: 1134530919

This book applies contemporary macroeconomic theory and econometric modelling techniques in order to address policy issues relating to the CFA Franc Zone, a group of francophone African Countries sharing a common currency that is linked to the French Franc / Euro. Within this methodological framework, the author analyses the way in which the monetary institutions of the CFA influence macroeconomic development and policy formation.

The Eastern Caribbean Economic and Currency Union

The Eastern Caribbean Economic and Currency Union
Author: Mr.Alfred Schipke
Publisher: International Monetary Fund
Total Pages: 546
Release: 2013-04-10
Genre: Business & Economics
ISBN: 1616352655

The Eastern Caribbean Economic and Currency Union (OECS/ECCU) is one of four currency unions in the world. As in other parts of the world in the aftermath of the global economic and financial crisis, the region is at a crossroads, facing the major challenges of creating jobs, making growth more inclusive, reforming the banking system, and managing volatility, while grappling with high public debt and persistent low economic growth. Policymakers have the critical task of implementing strong reforms to strengthen the monetary union while also laying the foundation for accelerating growth. This Handbook provides a comprehensive analysis of the key issues in the OECS/ECCU, including its organization and economic and financial sector linkages, and provides policy recommendations to foster economic growth.

An Economic Analysis of Monetary Union

An Economic Analysis of Monetary Union
Author: Michael Carlberg
Publisher: Springer Science & Business Media
Total Pages: 258
Release: 2012-12-06
Genre: Business & Economics
ISBN: 3662044358

This book explores the new economics of monetary union. It carefully discusses the effects of shocks and policies on output and prices. Shocks and policies are country-specific or common. They occur on the demand or supply side. Countries can differ in behavioural functions. Wages can be fixed, flexible, or slow. In addition, fixed wages and flexible wages can coexist. Take for instance fixed wages in Germany and flexible wages in France. Or take fixed wages in Europe and flexible wages in America. A special feature of this book is the numerical estimation of shock and policy multipliers. Further topics are inflation and disinflation. Take for instance inflation in Germany and price stability in France. Then what policy is needed for disinflation in the union? And what will be the dynamic effects on Germany and France?

Economics of the Monetary Union

Economics of the Monetary Union
Author: Paul De Grauwe
Publisher: Oxford University Press, USA
Total Pages: 302
Release: 2020-03-19
Genre:
ISBN: 0198849540

The thirteenth edition of this market-leading textbook provides an authoritative and concise analysis of the theories and policies relating to monetary union in which the author helps students to critically think about the sustainability of the Eurozone. Part One examines the implications of adopting a common currency by analysing Europe's experience and the issues faced by the European Central Bank. Part Two of the book looks at the problems of running a monetary union by analysing Europe's experience and the issues faced by the European Central Bank. Each chapter ends with a conclusion recapping the core issues, and a set of questions, which encourages students to test their knowledge and stretch their understanding further. This book is accompanied by the following online resources: For students: - Links to data sources - Essay questions - Web links - Paul De Grauwe on Twitter For Lecturers: - PowerPoint slides - Instructor's manual

Inflation and Unemployment in a Monetary Union

Inflation and Unemployment in a Monetary Union
Author: Michael Carlberg
Publisher: Springer Science & Business Media
Total Pages: 250
Release: 2008-07-15
Genre: Business & Economics
ISBN: 3540793011

This book studies the coexistence of inflation and unemployment in a monetary union. The focus is on how to reduce the associated loss. The primary target of the European central bank is low inflation in Europe. The primary target of the German government is low unemployment in Germany. And the primary target of the French government is low unemployment in France. The European central bank has a quadratic loss function. The same applies to the German government and the French government. The key questions are: To what extent can the sequential process of monetary and fiscal decisions reduce the loss caused by inflation and unemployment? Is monetary and fiscal cooperation superior to the sequential process of monetary and fiscal decisions? The present book is part of a larger research project on European Monetary Union, see the references given at the back of the book. Some parts of this project were presented at the World Congress of the International Economic Association, at the International Conference on Macroeconomic Analysis, at the International Institute of Public Finance, and at the International Atlantic Economic Conference. Other parts were presented at the Macro Study Group of the German Economic Association, at the Annual Meeting of the Austrian Economic Association, at the Göttingen Workshop on International Economics, at the Halle Workshop on Monetary Economics, at the Research Seminar on Macroeconomics in Freiburg, at the Research Seminar on Economics in Kassel, and at the Passau Workshop on International Economics.

Economic and Monetary Union Macroeconomic Policies

Economic and Monetary Union Macroeconomic Policies
Author: P. Arestis
Publisher: Springer
Total Pages: 367
Release: 2013-11-27
Genre: Business & Economics
ISBN: 1137317892

This book focuses on the construction of the economic policies of the Economic and Monetary Union (EMU) and its institutions. It reviews the faltering economic performance of the EMU countries before and after the onset of the financial crisis.