Characteristics of the Euro, the Demand for Reserves, and Policy Coordination Under EMU PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Characteristics of the Euro, the Demand for Reserves, and Policy Coordination Under EMU PDF full book. Access full book title Characteristics of the Euro, the Demand for Reserves, and Policy Coordination Under EMU by Mr.Paul R. Masson. Download full books in PDF and EPUB format.
Author: Mr.Paul R. Masson
Publisher: International Monetary Fund
ISBN: 1451847823
Category : Business & Economics
Languages : en
Pages : 38
Get Book Here
Book Description
The success of European Economic and Monetary Union (EMU) will depend on the stability of the euro. The monetary policy framework is yet to be decided, but is likely to involve either money or inflation targeting. Stochastic simulations compare the outcomes for major macroeconomic and financial variables pre- and post-EMU under both policy rules, as well as under an inflation targeting rule that includes output. Implications for the euro as a reserve currency are examined in the light of the expected returns and covariances among reserve currencies. The role of the exchange rate as an indicator and incentives for policy coordination with other major countries are also discussed.
Author: Mr.Paul R. Masson
Publisher: International Monetary Fund
ISBN: 1451847823
Category : Business & Economics
Languages : en
Pages : 38
Get Book Here
Book Description
The success of European Economic and Monetary Union (EMU) will depend on the stability of the euro. The monetary policy framework is yet to be decided, but is likely to involve either money or inflation targeting. Stochastic simulations compare the outcomes for major macroeconomic and financial variables pre- and post-EMU under both policy rules, as well as under an inflation targeting rule that includes output. Implications for the euro as a reserve currency are examined in the light of the expected returns and covariances among reserve currencies. The role of the exchange rate as an indicator and incentives for policy coordination with other major countries are also discussed.
Author: Paul R. Masson
Publisher:
ISBN:
Category :
Languages : en
Pages : 37
Get Book Here
Book Description
The success of European Economic and Monetary Union (EMU) will depend on the stability of the euro. The monetary policy framework is yet to be decided, but is likely to involve either money or inflation targeting. Stochastic simulations compare the outcomes for major macroeconomic and financial variables pre- and post-EMU under both policy rules, as well as under an inflation targeting rule that includes output. Implications for the euro as a reserve currency are examined in the light of the expected returns and covariances among reserve currencies. The role of the exchange rate as an indicator and incentives for policy coordination with other major countries are also discussed.
Author: Mr.Michael T. Hadjimichael
Publisher: International Monetary Fund
ISBN: 1451857365
Category : Business & Economics
Languages : en
Pages : 40
Get Book Here
Book Description
Whether the prospective shift of the peg of the CFA franc to the euro would constitute an exchange rate arrangement with EMU countries would depend critically on the interpretation of the free convertibility of the CFA franc guaranteed by France. Nonetheless, this shift is likely to leave the CFA franc arrangements and operating features of the zone essentially unchanged. The current parity of the CFA franc could be considered in line with fundamentals. The potential economic consequences for the CFA franc countries could be positive over the long term, but there is a risk of a weakening of external competitiveness.
Author: International Monetary Fund. External Relations Dept.
Publisher: International Monetary Fund
ISBN: 1451937504
Category : Business & Economics
Languages : en
Pages : 458
Get Book Here
Book Description
The Web edition of the IMF Survey is updated several times a week, and contains a wealth of articles about topical policy and economic issues in the news. Access the latest IMF research, read interviews, and listen to podcasts given by top IMF economists on important issues in the global economy. www.imf.org/external/pubs/ft/survey/so/home.aspx
Author: Michele Fratianni
Publisher: Springer Science & Business Media
ISBN: 1475754507
Category : Business & Economics
Languages : en
Pages : 348
Get Book Here
Book Description
Approximately two years ago, the Guido Carli Association charged a group of distinguished economists with studying various aspects of the international monetary system and proposing ways to improve it. The studies were presented at a conference in Florence, Italy, on June 19, 1998 and their edited versions are published in this volume. Ideas for the Future of the International Monetary System consists of two parts: Part I contains the studies commissioned by the Carli Association - those by Dominick Salvatore; Koichi Hamada; Forrest Capie; Michele Fratianni, Andreas Hauskrecht and Aurelio Maccario; Jrgen von Hagen and Ingo Fender, Michael Artis, Marion Kohler and Jacques Mlitz; Barry Eichengreen; Michele Fratianni and Andreas Hauskrecht; Paolo Savona and Aurelio Maccario; and Elvio Dal Bosco - and the comments by Paul De Grauwe and William Branson, and the editors' conclusions. Part II contains three papers presented at the Florence conference, by Antonio Fazio, Carl Scognamiglio, and Alberto Predieri.
Author: Mr.Douglas Laxton
Publisher: International Monetary Fund
ISBN: 145184400X
Category : Business & Economics
Languages : en
Pages : 34
Get Book Here
Book Description
This paper examines the possible effects on Switzerland of asset preference shifts in favor of Swiss-franc-denominated assets that could result from EMU. Alternative policy responses to temporary and persistent asset preference shifts and the consequent pressures for exchange rate appreciation are examined. Simulations of a stylized macroeconomic model of the Swiss economy indicate that monetary policy is likely to be the most effective tool for stabilizing output in the short run, but at the cost of a temporary increase in inflationary pressures. The simulations highlight the dilemmas faced by policymakers in an environment with low inflation and nominal interest rates.
Author: Philipp Hartmann
Publisher: Cambridge University Press
ISBN: 0521632730
Category : Business & Economics
Languages : en
Pages : 212
Get Book Here
Book Description
Currency Competition and Foreign Exchange Markets by Philipp Hartmann of the European Central Bank is a major theoretical and empirical study of international currencies, which focuses on the role which the Euro will play in the international monetary and financial system along with the US dollar and the Japanese yen. In contrast to much of the existing literature which approaches the subject from a macroeconomic perspective, Philipp Hartmann develops a theoretical model which uses game theory, time series and panel econometrics, and links financial markets analysis with transaction cost economics. The results of Currency Competition and Foreign Exchange Markets are presented with reference to political, historical and institutional considerations, and provide accessible answers to policy-makers, business people and scholars worldwide. The sections on Spread Estimation and Multiple Vehicles with Inter-Dealer Price and Entry Competition will be of particular use for finance professionals.
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1451973462
Category : Business & Economics
Languages : en
Pages : 120
Get Book Here
Book Description
This paper studies the case of Mexico to examine determinants of banking system fragility. The paper tests empirically the proposition that bank fragility is determined by bank-specific factors, macroeconomic conditions, and potential contagion effects. The methodology allows the variables that determine bank failure to differ from those that influence banks’ time to failure (or survival rate). Based on the indicators of fragility of individual banks, the paper constructs an index of fragility for the banking system. The framework is applied to the Mexican financial crisis that began in 1994.
Author:
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 72
Get Book Here
Book Description
Author: Hanspeter K. Scheller
Publisher:
ISBN: 9789289900270
Category : Banks and banking, Central
Languages : en
Pages : 229
Get Book Here
Book Description
Comprehensive 200-page overview of the ECB from its inception in June 1998 until the present day.
