عنوان

European Monetary Union and Exchange Rate Dynamics :

شابک

3642569137

شابک

3642632289

شابک

9783642569135

شابک

9783642632280

شماره

b570505

عنوان اصلي

European Monetary Union and Exchange Rate Dynamics :

نام عام مواد

[Book]

ساير اطلاعات عنواني

New Approaches and Application to the Euro

نام نخستين پديدآور

by Paul J.J. Welfens.

محل نشرو پخش و غیره

Berlin, Heidelberg

نام ناشر، پخش کننده و غيره

Springer Berlin Heidelberg

تاریخ نشرو بخش و غیره

2001

نام خاص و کميت اثر

(x, 161 Seiten)

متن يادداشت

European Monetary Union: Start of the Euro and the Need for Complementary Measures in Euroland: Introduction.- The Single Market, Growth Perspectives and Welfare Effects of the Euro.- Price Competition, Real Interest Rates and Investment under EMU.- Transmission Channels of Monetary Policy.- EMU, Capital Markets and Growth of New Firms.- Relative Prices, Factor Rewards and Real Convergence.- Labor Markets, Mobility and Unemployment.- Implications for Economic Policies and Budget Consolidation.- Looming EU Protectionism?.- Real Exchange Rate Aspects.- Summary and Conclusions.- Appendix A.- Modern Exchange Rate Theory and Schumpetrian Economic Analysis: New Approach and Application to the Euro: Introduction.- Exchange Rate Analysis in the Short and Long Run: A New Approach.- Conclusions.- Appendix B.- Exchange Rate Policy for the Euro: Theory, Strategic Issues and Policy Options: Introduction.- Exchange Rate Regimes and Exchange Rate Policies.- The EMS Mark II.- Summary and Conclusions.- Appendix C.

متن يادداشت

The creation of the European System of Central Banks (ESCB) and the start of the Euro in 1999 are historical marks for Europe. With the start of the new currency and the ECB the world economy also is facing a major structural change and new challenges. In a historical perspective the European Monetary Union has the unique feature that a common new institution, the ECB, has been created. This is in marked contrast to the Scandinavian and the Latin Monetary Union (France, Italy, Belgium th and Switzerland) in the late 19 century which was a period in which national central banks were created in order to stabilize the respective national financial systems. In the starting year 1999 the European Central Bank had favorable conditions in the sense that low inflation rates and an economic upswing had coincided; while this should contribute to a Euro appreciation in the long run the short term exchange rate developments were in marked contrast as the new currency lost about 115 of its value within 16 months; while exchange rate volatility has not been unusual in the 1980s the continued and strong fall ofthe Euro vis-a-vis the US dollar, the pound, the Swiss franc and the Yen has raised concerns. The strong initial fall of the Euro has created some problems in establishing the new currency as a strong contender for the US dollar. Moreover, there are some theoretical challenges since the portfolio model offers a rather different message than the purchasing power parity.

موضوع مستند نشده

Economic policy.

موضوع مستند نشده

Economics.

موضوع مستند نشده

Europe -- Economic policy.

شماره رده

نشانه اثر

مستند نام اشخاص تاييد نشده

by Paul J.J. Welfens.

مستند نام اشخاص تاييد نشده

Paul J J Welfens

نام الکترونيکي

نوع ماده

[Book]

تكميل شده

Y