Policy Coordination in the European Money System - Part 1 - the European Monetary System - a Balance Between Rules and Discretion - Part 2 - Monetary Coordination Within the European Monetary System PDF Download
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Author: International Monetary Fund
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: International Monetary Fund
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author: International Monetary Fund
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 9781557750280
Category : Business & Economics
Languages : en
Pages : 100
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Book Description
This chapter discusses various aspects of policy coordination in the European Monetary System (EMS). The purpose of the first paper in this chapter is to provide a survey of the process of European monetary integration, with focus on the EMS, its purposes, evolution, and the experience gathered since its establishment in early 1979. In its present stage of evolution, the EMS has developed a body of general institutional procedures to promote consistency among the policies and objectives of participating countries. The search for consistency inevitably gives rise to consequent constraints, such as those implicit in the specific rules on exchange rate and international reserve management that characterize the exchange rate mechanism (ERM). By drawing on an analysis of the role of monetary policy in balance of payments adjustment under different monetary systems and exchange rate arrangements, the second paper focuses on the crucial issues involved when an attempt is made to set rules for monetary policy coordination in a system of fixed but adjustable exchange rates such as the EMS.
Author: Michael Emerson
Publisher:
ISBN: 9780198773245
Category : Business & Economics
Languages : en
Pages : 356
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Book Description
The European Community is negotiating a new treaty to establish the constitutional foundations of an economic and monetary union in the course of the 1990s. This study provides the only comprehensive guide to the economic implications of economic and monetary union. The work of an economist inside the Commission of the European Community, it reflects the considerations influencing the design of the union. The study creates a unique bridge between the insights of modern economic analysis and the work of the policy makers preparing for economic and monetary union.
Author: International Monetary Fund
Publisher: INTERNATIONAL MONETARY FUND
ISBN: 9781557750280
Category : Business & Economics
Languages : en
Pages : 100
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Book Description
This chapter discusses various aspects of policy coordination in the European Monetary System (EMS). The purpose of the first paper in this chapter is to provide a survey of the process of European monetary integration, with focus on the EMS, its purposes, evolution, and the experience gathered since its establishment in early 1979. In its present stage of evolution, the EMS has developed a body of general institutional procedures to promote consistency among the policies and objectives of participating countries. The search for consistency inevitably gives rise to consequent constraints, such as those implicit in the specific rules on exchange rate and international reserve management that characterize the exchange rate mechanism (ERM). By drawing on an analysis of the role of monetary policy in balance of payments adjustment under different monetary systems and exchange rate arrangements, the second paper focuses on the crucial issues involved when an attempt is made to set rules for monetary policy coordination in a system of fixed but adjustable exchange rates such as the EMS.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 9781557751720
Category : Business & Economics
Languages : en
Pages : 116
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Book Description
This paper discusses various developments and perspectives of the European Monetary System (EMS). There have been three phases in the development of the EMS: from its beginning in March 1979 to March 1983, can be seen as a phase of trial and orientation; from March 1983 to 1987, can be described as one of consolidation; and The Basle/Nyborg agreement marked the end of the consolidation phase, characterized by the striving for stability, the emergence of the deutsche mark as the anchor currency, and the predominance of intramarginal intervention in partner currencies. EMS has allowed simultaneous progress toward external and internal stability. The EMS Agreement provided for fluctuation margins offering some flexibility and for the possibility of central rate changes, which could compensate for diverging monetary policies. As divergences were narrowed, central rate adjustments could be small so as not to affect market rates; thus minimizing the potential for destabilizing capital flows.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451844239
Category : Business & Economics
Languages : en
Pages : 33
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Book Description
Recently, monetary authorities have increasingly focused on implementing policies to ensure price stability and strengthen central bank independence. Simultaneously, in the fiscal area, market development has allowed public debt managers to focus more on cost minimization. This “divorce” of monetary and debt management functions in no way lessens the need for effective coordination of monetary and fiscal policy if overall economic performance is to be optimized and maintained in the long term. This paper analyzes these issues based on a review of the relevant literature and of country experiences from an institutional and operational perspective.
Author: Mr.Jacob A. Frenkel
Publisher: International Monetary Fund
ISBN: 9781557755544
Category : Business & Economics
Languages : en
Pages : 508
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Book Description
The fiftieth anniversary of the Bretton Woods Conference served as an opportunity to reappraise the desirability of strengthening the IMF's oversight of the functioning of the international monetary system. Whatever the design of an exchange rate system and the arrangements for the provision of international liquidity, it is widely accepted that to be effective such oversight must rest on a strong analytic foundation. These two volumes, edited by Jacob A. Frenkel and Morris Goldstein, present 30 analytic papers on the system as it functioned during 1987-91 and aim at conveying the flavor of those issues that commanded close attention in the Fund's research program.
Author: Jürgen von Hagen
Publisher:
ISBN:
Category :
Languages : en
Pages : 82
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Book Description
Author: Hanspeter K. Scheller
Publisher:
ISBN: 9789289900270
Category : Banks and banking, Central
Languages : en
Pages : 229
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Book Description
Comprehensive 200-page overview of the ECB from its inception in June 1998 until the present day.
