European monetary integration /
European monetary integration /
edited by Hans-Werner Sinn, Mika Widgrén, and Marko Köthenbürger.
- Cambridge, Mass. : MIT Press, ©2004.
- 1 online resource (xvi, 176 pages) : illustrations.
- CESifo seminar series .
- CESifo seminar series. .
Includes bibliographical references and index.
Economic performance and stabilization policy in a monetary union with imperfect labor and goods' markets / Fabrizio Coricelli, Alex Cukierman, and Alberto Dalmazzo ; Discussant: Erkki Koskela -- Asymmetric transmission of monetary policy: what should the ECB do if one size does not fit all? / Daniel Gros and Carsten Hefeker ; Discussant: Jørgen Elmeskov -- Is the ECB too decentralized? / Jakob de Haan, Helge Berger, and Robert Inklaar ; Discussant: Mika Widgrén -- Fiscal aspects of Central Bank independence / Christopher A. Sims ; Discussant: Svend E. Hougarrd Jensen -- Seignorage wealth in the Eurosystem: eurowinners and eurolosers revisited / Hans-Werner Sinn and Holger Feist ; Discussant: Jouko Vilmunen -- Financial fragility, bubbles, and monetary policy / Gerhard Illing ; Discussant: Phillippe Bacchetta.
Studies examining the policy challenges posed by European monetary integration, including asymmetry problems and fiscal concerns.The success of European monetary integration--called by the editors of this CESifo volume "one of the most far-reaching, real world experiments in monetary policy to date"--is not assured. Policy makers have been forced to deal with challenges posed by formulating a uniform monetary policy for countries with asymmetric business cycles and economies in different stages of development as well as with the fiscal and financial implications of a unified currency.The contributors to European Monetary Integration, all prominent economists and scholars, combine theoretical analysis and policy recommendation in their examination of these difficulties. In the first three chapters they consider issues raised by asymmetry problems, including imperfect labor and goods markets, the problem of monetary policy objectives when "one size does not fit all," and the possibility of a bias toward smaller countries in the "one country, one vote" constitutional structure of the European Central Bank. In the last three chapters, they discuss fiscal concerns, including the distribution of seignorage revenues and the interaction of European Central Bank monetary policies and asset price dynamics.
English.
9780262283717 (electronic bk.) 0262283719 (electronic bk.) 141756086X 9781417560868 9780262194990 0262194996
9780262194990
2848 MIT Press 9780262283717 MIT Press
Economic and Monetary Union.
Economic and Monetary Union.
Economic and Monetary Union.
Monetary unions--European Union countries.
BUSINESS & ECONOMICS--Money & Monetary Policy.
International economic integration.
Monetary unions.
Unions monétaires--Pays de l'Union européenne.
European Union countries--Economic integration.
European Union countries.
Europe--Intégration économique.
SOCIAL SCIENCES/Political Science/Public Policy & Law ECONOMICS/Political Economy ECONOMICS/International Economics
Electronic books.
Electronic books.
HG3894 / .E93 2004eb
332.4/94
Includes bibliographical references and index.
Economic performance and stabilization policy in a monetary union with imperfect labor and goods' markets / Fabrizio Coricelli, Alex Cukierman, and Alberto Dalmazzo ; Discussant: Erkki Koskela -- Asymmetric transmission of monetary policy: what should the ECB do if one size does not fit all? / Daniel Gros and Carsten Hefeker ; Discussant: Jørgen Elmeskov -- Is the ECB too decentralized? / Jakob de Haan, Helge Berger, and Robert Inklaar ; Discussant: Mika Widgrén -- Fiscal aspects of Central Bank independence / Christopher A. Sims ; Discussant: Svend E. Hougarrd Jensen -- Seignorage wealth in the Eurosystem: eurowinners and eurolosers revisited / Hans-Werner Sinn and Holger Feist ; Discussant: Jouko Vilmunen -- Financial fragility, bubbles, and monetary policy / Gerhard Illing ; Discussant: Phillippe Bacchetta.
Studies examining the policy challenges posed by European monetary integration, including asymmetry problems and fiscal concerns.The success of European monetary integration--called by the editors of this CESifo volume "one of the most far-reaching, real world experiments in monetary policy to date"--is not assured. Policy makers have been forced to deal with challenges posed by formulating a uniform monetary policy for countries with asymmetric business cycles and economies in different stages of development as well as with the fiscal and financial implications of a unified currency.The contributors to European Monetary Integration, all prominent economists and scholars, combine theoretical analysis and policy recommendation in their examination of these difficulties. In the first three chapters they consider issues raised by asymmetry problems, including imperfect labor and goods markets, the problem of monetary policy objectives when "one size does not fit all," and the possibility of a bias toward smaller countries in the "one country, one vote" constitutional structure of the European Central Bank. In the last three chapters, they discuss fiscal concerns, including the distribution of seignorage revenues and the interaction of European Central Bank monetary policies and asset price dynamics.
English.
9780262283717 (electronic bk.) 0262283719 (electronic bk.) 141756086X 9781417560868 9780262194990 0262194996
9780262194990
2848 MIT Press 9780262283717 MIT Press
Economic and Monetary Union.
Economic and Monetary Union.
Economic and Monetary Union.
Monetary unions--European Union countries.
BUSINESS & ECONOMICS--Money & Monetary Policy.
International economic integration.
Monetary unions.
Unions monétaires--Pays de l'Union européenne.
European Union countries--Economic integration.
European Union countries.
Europe--Intégration économique.
SOCIAL SCIENCES/Political Science/Public Policy & Law ECONOMICS/Political Economy ECONOMICS/International Economics
Electronic books.
Electronic books.
HG3894 / .E93 2004eb
332.4/94