Reviewing Adjustment Dynamics in 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 Reviewing Adjustment Dynamics in EMU PDF full book. Access full book title Reviewing Adjustment Dynamics in EMU by Servaas Deroose. Download full books in PDF and EPUB format.
Author: Servaas Deroose
Publisher:
ISBN:
Category : European Economic Community countries
Languages : en
Pages : 54
Get Book Here
Book Description
Author: Servaas Deroose
Publisher:
ISBN:
Category : European Economic Community countries
Languages : en
Pages : 54
Get Book Here
Book Description
Author: Servaas Deroose
Publisher:
ISBN:
Category :
Languages : en
Pages : 35
Get Book Here
Book Description
This paper analyses how adjustment dynamics, in an environment with some degree of price and wage rigidity, may create and strengthen asymmetric developments in a monetary union. It presents a simple illustrative model of adjustment dynamics that reproduces quite nicely actual developments in the first years of EMU. The model is used to analyse adjustments to two types of shocks - relative competitiveness shifts and demand disturbances. It is shown that the interaction between real exchange rate adjustment and real interest rate developments may contribute to periods of overheating and overcooling during which output might be for a number of years either above or below potential. Furthermore, the paper looks at the circumstances in which smooth adjustment to shocks can be expected and, on the other hand, when a cycle with greater amplitude is more likely. Finally, the paper examines policy options that could improve the functioning of EMU. The analysis provides another strong argument for pressing ahead with reforms that increase flexibility in labour and product markets and further integrate the economies of the euro area.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 33
Get Book Here
Book Description
This paper analyses how adjustment dynamics, in an environment with some degree of price and wage rigidity, may create and strengthen asymmetric developments in a monetary union. It presents a simple illustrative model of adjustment dynamics that reproduces quite nicely actual developments in the first years of EMU. The model is used to analyse adjustments to two types of shocks : relative competitiveness shifts and demand disturbances. It is shown that the interaction between real exchange rate adjustment and real interest rate developments may contribute to periods of overheating and overcooling during which output might be for a number of years either above or below potential. Furthermore, the paper looks at the circumstances in which smooth adjustment to shocks can be expected and, on the other hand, when a cycle with greater amplitude is more likely. Finally, the paper examines policy options that could improve the functioning of EMU. The analysis provides another strong argument for pressing ahead with reforms that increase flexibility in labour and product markets and further integrate the economies of the euro area.
Author: Massimo Giovannini
Publisher:
ISBN: 9789279934025
Category :
Languages : en
Pages : 51
Get Book Here
Book Description
The paper reviews adjustment dynamics in the EMU on the basis of estimated DSGE models for four large EA Member States (DE, FR, IT, ES). We compare the response of the four countries to identical shocks and find a particularly strong response of employment and wages in ES, a high sensitivity of IT to investment-related shocks, and a comparatively strong impact of global shocks on the DE economy. We also perform counterfactual exercises that apply the estimated shocks and parameters for ES to DE, FR, and IT. The counterfactual simulations suggest that differences in shocks have been important for GDP growth differentials, and together with structural differences also contributed to differences in employment fluctuations across the four countries considered.
Author: B. Ardy
Publisher: Springer
ISBN: 0230554741
Category : Business & Economics
Languages : en
Pages : 363
Get Book Here
Book Description
This book provides an original and wide-ranging analysis of the impact of Economic and Monetary Union (EMU) on economic governance in the EU and in several key Member States within and outside the Euro area. Its emphasis is on adaptation: how EMU encourages change in national and EU institutions and in national economic regimes. It brings together economic, political science and legal perspectives to explain how national economies adapted, the dynamics of policy-making and the complex web of laws, processes and actors in the EMU.
Author: Sven Langedijk
Publisher:
ISBN:
Category : Euro
Languages : en
Pages : 64
Get Book Here
Book Description
Recoge: 1. Introduction. - 2. Stylised developments. - 3. Analysing the characteristics of adjustment in EMU. - 4. Country dynamics. - 5.A possible adjustment scenario for Spain and Germany. - Concluding Remarks. - Appendix: A two-country-Three-Sector DSGE model.
Author: Henrik Enderlein
Publisher: Routledge
ISBN: 1317965809
Category : Political Science
Languages : en
Pages : 190
Get Book Here
Book Description
Europe’s Economic and Monetary Union (EMU) celebrated its tenth anniversary in 2009. Before its birth many observers were concerned about its viability. This volume examines a number of noteworthy concerns that were heard a decade ago and it assesses what has become of them. The contributors to this volume examine various topics. Has EMU been a failure or success? Does EMU require more political integration? What type of deeper integration in the financial market has occurred because of EMU? Does the public like EMU? Does EMU cause a decline of the welfare state, reduce the role of labour unions and are adjustments now made mainly through the labour market? Do countries in EMU become more similar over time? Is EMU sustainable in the long-run? Will EMU survive the global financial crisis? The contributors to this book are leading Political Scientists in the field, and draw on a wealth of research and experience. This book was published as a special issue of the Journal of European Public Policy.
Author: Max Watson
Publisher: Routledge
ISBN: 1135354995
Category : Business & Economics
Languages : en
Pages : 464
Get Book Here
Book Description
First Published in 2008. Routledge is an imprint of Taylor & Francis, an informa company.
Author: Lars Jonung
Publisher: Taylor & Francis
ISBN: 1857434862
Category :
Languages : en
Pages : 464
Get Book Here
Book Description
Examines the effect of the introduction of the Euro and the establishment of economic and monetary union on the financial landscape of Europe.
Author: Jorge Martinez-Vazquez
Publisher: Routledge
ISBN: 1135972605
Category : Business & Economics
Languages : en
Pages : 253
Get Book Here
Book Description
This book addresses the question of the best possible uses of public funds and the most effective strategies for regional development, focusing on the develop of human capital and the methodology of formulating regional policy.
