European Monetary Integration [electronic resource] : EMS Developments and International Post-Maastricht Perspectives /
EC monetary integration was reinforced in the 1980s when macroeconomic convergence and a dominant role of the German Bundesbank created the basis for relatively stable exchange rates and increasing EC trade volumes. Reduced capital controls and rising capital mobility as well as German unification caused shifts and shocks which undermined EMS stability in a critical period - the transition to EMU in accord with the Maastricht Treaty which called for further increasing monetary integration. The analysis focuses on these issues, the EMS crisis of 1992/93, the topic of optimum currency areas and the problem of fiscal policies/regional stabilization in Europe, the US and Canada. This book gives an assessment of the EMS developments and shows how financial market liberalization as well as the EC 1992 project affect the process of economic and monetary union.
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Berlin, Heidelberg : Springer Berlin Heidelberg,
1994
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Subjects: | International economics., Economics., International Economics., |
Online Access: | http://dx.doi.org/10.1007/978-3-642-97540-0 |
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EC monetary integration was reinforced in the 1980s when macroeconomic convergence and a dominant role of the German Bundesbank created the basis for relatively stable exchange rates and increasing EC trade volumes. Reduced capital controls and rising capital mobility as well as German unification caused shifts and shocks which undermined EMS stability in a critical period - the transition to EMU in accord with the Maastricht Treaty which called for further increasing monetary integration. The analysis focuses on these issues, the EMS crisis of 1992/93, the topic of optimum currency areas and the problem of fiscal policies/regional stabilization in Europe, the US and Canada. This book gives an assessment of the EMS developments and shows how financial market liberalization as well as the EC 1992 project affect the process of economic and monetary union. |
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International economics. Economics. International Economics. |
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Welfens, Paul J. J. editor. SpringerLink (Online service) |
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Welfens, Paul J. J. editor. SpringerLink (Online service) |
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Welfens, Paul J. J. editor. |
title |
European Monetary Integration [electronic resource] : EMS Developments and International Post-Maastricht Perspectives / |
title_short |
European Monetary Integration [electronic resource] : EMS Developments and International Post-Maastricht Perspectives / |
title_full |
European Monetary Integration [electronic resource] : EMS Developments and International Post-Maastricht Perspectives / |
title_fullStr |
European Monetary Integration [electronic resource] : EMS Developments and International Post-Maastricht Perspectives / |
title_full_unstemmed |
European Monetary Integration [electronic resource] : EMS Developments and International Post-Maastricht Perspectives / |
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european monetary integration [electronic resource] : ems developments and international post-maastricht perspectives / |
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Berlin, Heidelberg : Springer Berlin Heidelberg, |
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1994 |
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http://dx.doi.org/10.1007/978-3-642-97540-0 |
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AT welfenspauljjeditor europeanmonetaryintegrationelectronicresourceemsdevelopmentsandinternationalpostmaastrichtperspectives AT springerlinkonlineservice europeanmonetaryintegrationelectronicresourceemsdevelopmentsandinternationalpostmaastrichtperspectives |
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KOHA-OAI-TEST:2181992018-07-30T23:54:22ZEuropean Monetary Integration [electronic resource] : EMS Developments and International Post-Maastricht Perspectives / Welfens, Paul J. J. editor. SpringerLink (Online service) textBerlin, Heidelberg : Springer Berlin Heidelberg,1994.engEC monetary integration was reinforced in the 1980s when macroeconomic convergence and a dominant role of the German Bundesbank created the basis for relatively stable exchange rates and increasing EC trade volumes. Reduced capital controls and rising capital mobility as well as German unification caused shifts and shocks which undermined EMS stability in a critical period - the transition to EMU in accord with the Maastricht Treaty which called for further increasing monetary integration. The analysis focuses on these issues, the EMS crisis of 1992/93, the topic of optimum currency areas and the problem of fiscal policies/regional stabilization in Europe, the US and Canada. This book gives an assessment of the EMS developments and shows how financial market liberalization as well as the EC 1992 project affect the process of economic and monetary union.European Monetary Union: Post-Maastricht Perspectives on Monetary and Real Integration in Europe -- 1. European Monetary Integration after Maastricht -- 2. The Single Market Program and EC Monetary Integration -- 3. Transition Problems towards EMU -- Discussant: Randall Henning -- The European Monetary System and European Integration: An Evaluation -- 1. Introduction -- 2. European Macroeconomic Convergence -- 3. Macroeconomic Convergence and Economic Integration -- 4. Conclusion -- Data -- Discussant: Vittorio Grilli -- Basic Features of a European Monetary Order -- 1. Introduction -- 2. Facing the Challenge of an EC Monetary Order -- 3. The Need for Coherence of Fiscal and Monetary Policy -- 4. Perspectives -- Towards Monetary Union in the European Community: Why and How -- 1. Introduction -- 2. Where: The Meaning of Monetary Union -- 3. Why: Costs and Benefits from Monetary Union -- 4. How: Concrete Steps -- 5. Summary and Conclusions -- Discussant: Alan G. Isaac -- German Monetary Unification and European Monetary Union: Theoretical Issues and Strategic Policy Problems -- 1. Introduction -- 2. Are Germany and Europe Optimum Currency Areas? -- 3. German Monetary Unification -- 4. European Monetary Union -- 5. Big Leap for Germany and Gradualism for Europe -- Discussant: John Williamson -- Liberalization and Regulation in the Process of Financial Market Integration in the European Community -- 1. Introduction -- 2. The Historical Record -- 3. Liberalization and Regulation in the Commission’s New Approach -- 4. Likely Impact of the New Approach: Microeconomics -- 5. Likely Impact of the New Approach: Macroeconomics -- 6. Conclusions -- Discussant: Sydney J. Key -- Problems of European Monetary Policy Coordination in the Transition Phase -- 1. Introduction -- 2. Open Questions In Stage One -- 3. Open Questions of Stage 2 -- 4. Conclusions -- Discussant: Horst lingerer -- Creating a European Central Bank after 1992: Issues of EC Monetary Integration and Problems of Institutional Innovation -- 1. Monetary and Real Integration in the EC -- 2. The European Monetary System in Perspective -- 3. EC 1992 and Monetary Integration -- 4. Creating an EC Central Bank -- Discussant: George M. von Furstenberg -- Monetary and Fiscal Policy in a European Monetary Union: Some Public Choice Considerations -- 1. Introduction -- 2. Determinants of Inflation in a Monetary Union -- 3. The Role of Fiscal Policy in a Monetary Union -- 4. Conclusions -- Discussant: Robert Solomon -- Whan Can the Fiscal System in the United States and Canada Tell Us about EMU -- 1. Introduction -- 2. The Fiscal System in United States and Canada -- 3. The Relative Importance of Asymmetric Shocks -- 4. The Impact of Federal Taxes and Transfers in the United States and Canada -- 5. Redistribution and Stabilization in the EC -- 6. Conclusions 320 Data/Appendix -- Discussant: Susan M. Collins -- The European Community as an Optimum Currency Area -- 1. Introduction -- 2. Model in a McKinnon Setting -- 3. Conclusion -- Discussant: Karen H. Johnson -- List of Contributors.EC monetary integration was reinforced in the 1980s when macroeconomic convergence and a dominant role of the German Bundesbank created the basis for relatively stable exchange rates and increasing EC trade volumes. Reduced capital controls and rising capital mobility as well as German unification caused shifts and shocks which undermined EMS stability in a critical period - the transition to EMU in accord with the Maastricht Treaty which called for further increasing monetary integration. The analysis focuses on these issues, the EMS crisis of 1992/93, the topic of optimum currency areas and the problem of fiscal policies/regional stabilization in Europe, the US and Canada. This book gives an assessment of the EMS developments and shows how financial market liberalization as well as the EC 1992 project affect the process of economic and monetary union.International economics.Economics.International Economics.Springer eBookshttp://dx.doi.org/10.1007/978-3-642-97540-0URN:ISBN:9783642975400 |