European monetary integration / edited by Hans-Werner Sinn, Mika Widgrén, and Marko Köthenbürger.

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.

Print version record.

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.

eBooks on EBSCOhost EBSCO eBook Subscription Academic Collection - Worldwide