Divergences In The Euro Area
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Author | : Nils J. Bjorksten |
Publisher | : |
Total Pages | : 34 |
Release | : 2007 |
Genre | : |
ISBN | : |
Download Divergences in the Euro Area Book in PDF, Epub and Kindle
Evidence suggests that after a period of convergence in the early and mid-1990s, the euro area economies may have started diverging. As a consequence, the common monetary policy could become well-suited for a number of countries. This paper studies the extent and severity of the recent divergences, and discusses the capacity of exposed countries to compensate for nationally suboptimal monetary conditions through other policy channels. As a step toward developing an analytical framework for monitoring intra-euro area developments, we present a convergence barometer to monitor divergences, and a Taylor rule based monetary thermometer to compare the common monetary policy to benchmark optimal policy for individual countries. A main conclusion is that policymakers at the euro area level should be concerned about divergences, since automatic stabilisers alone may not be enough to restore a healthy equilibrium to potential outlier countries.
Author | : Gertrude Tumpel-Gugerell |
Publisher | : Edward Elgar Publishing |
Total Pages | : 498 |
Release | : 2003-01-01 |
Genre | : Business & Economics |
ISBN | : 9781781951286 |
Download Economic Convergence and Divergence in Europe Book in PDF, Epub and Kindle
Recoge : 1. Introductory session. - 2. Past convergence within the European Union. - 3. Accesion countries : achievements in real convergence. - 4. Accesion countries : how to balance real and nominal convergence challenges for monetary and exchange rate policy. - 5. Does the financial sector contribute to real growth? - 6. Is there somebody left out in the cold? prospects of CEE countries other than current accesion countries. - 7. Policy challenges within the (enlarged) EU : how to foster economic convergence?
Author | : Paweł Tokarski |
Publisher | : |
Total Pages | : 0 |
Release | : 2019 |
Genre | : |
ISBN | : |
Download Divergence and Diversity in the Euro Area Book in PDF, Epub and Kindle
Zusammenfassung: When the European Union introduced a common currency, this was based on the assumption that there would be increasing economic convergence of the participating states. These expectations were not met. Instead of gradually converging, the economic performance of euro area countries has noticeably diverged. The most considerable problem arising from this divergence is that it leads to social differences and to discrepancies in political interests regarding further direction of economic integration. Thus, in the long term, the current integration model within the euro area might be called into question. Previous analyses of economic differences in the euro area have mostly focused on specific groups of countries, such as southern Europe versus northern Europe or central versus peripheral Europe. This study takes a different approach to the issue of convergence by looking at the three largest economies in the euro area: Germany, France and Italy
Author | : Klaus-Jürgen Gern |
Publisher | : |
Total Pages | : 0 |
Release | : 2022 |
Genre | : |
ISBN | : 9789284699117 |
Download Inflation Divergence in the Euro Area Book in PDF, Epub and Kindle
Author | : Olivier de Bandt |
Publisher | : Springer Science & Business Media |
Total Pages | : 379 |
Release | : 2006-09-28 |
Genre | : Business & Economics |
ISBN | : 3540326111 |
Download Convergence or Divergence in Europe? Book in PDF, Epub and Kindle
Against the background of the introduction of the Euro in 1999, France, Germany and Italy have recently experienced higher divergence in terms of GDP growth. Based on a set of original papers produced by a team of economists from the three main National Central Banks of the Euro area this book analyses the latest developments in three important European economies in a broad perspective, using modern econometric techniques.
Author | : Roger William Vickerman |
Publisher | : |
Total Pages | : 254 |
Release | : 1995 |
Genre | : Convergence (Economics) |
ISBN | : |
Download Convergence and Divergence Among European Regions Book in PDF, Epub and Kindle
Author | : Pawel Tokarski |
Publisher | : |
Total Pages | : 39 |
Release | : 2019 |
Genre | : European Union countries |
ISBN | : |
Download Divergence and Diversity in the Euro Area Book in PDF, Epub and Kindle
When the European Union introduced a common currency, this was based on the assumption that there would be increasing economic convergence of the participating states. These expectations were not met. Instead of gradually converging, the economic performance of euro area countries has noticeably diverged. The most considerable problem arising from this divergence is that it leads to social differences and to discrepancies in political interests regarding further direction of economic integration. Thus, in the long term, the current integration model within the euro area might be called into question. Previous analyses of economic differences in the euro area have mostly focused on specific groups of countries, such as southern Europe versus northern Europe or central versus peripheral Europe. This study takes a different approach to the issue of convergence by looking at the three largest economies in the euro area: Germany, France and Italy.
Author | : Ewald Nowotny |
Publisher | : Edward Elgar Publishing |
Total Pages | : 265 |
Release | : 2010-01-01 |
Genre | : Business & Economics |
ISBN | : 1849805695 |
Download The Euro and Economic Stability Book in PDF, Epub and Kindle
The Euro and Economic Stability assesses the euro area's merits as a shelter and the merits of euro assets as a safe haven and reviews the case for rapid euro adoption from a post-crisis view. Policymakers and economists provide relevant lessons from euro area divergences for future euro area members and, more generally, from the financial crisis, while banking representatives discuss post-crisis business models of banks in the area. Last but not least, a theoretical introductory chapter fills the gap between mainstream macroeconomic modelling and real-world decision-making. The prime audience for this invaluable book will be economists and other experts in the fields of economic policy and European integration from central, commercial and investment banks, governments, international organizations, universities and research institutes. The book is also aimed at readers with a particular interest in the contributions' special regional focus: Central, Eastern and South-Eastern Europe.
Author | : Ferdi De Ville |
Publisher | : Springer |
Total Pages | : 166 |
Release | : 2016-06-15 |
Genre | : Political Science |
ISBN | : 113751440X |
Download Rising Powers and Economic Crisis in the Euro Area Book in PDF, Epub and Kindle
In this book, Ferdi De Ville and Mattias Vermeiren examine the linkages between the economic crisis in the euro area and the rise of Brazil, India and China (BICs) in the global monetary and trading system. Drawing on the insights of the comparative capitalism literature, the authors show that the latter development has been a key source of the escalation of trade imbalances in the euro area, which are widely seen as an important cause of the financial and economic crisis in the region. By pointing to the external source of these imbalances and the divergent institutional capacity of the euro area countries to deal with the intensified competition associated with the rise of the BICs, De Ville and Vermeiren go beyond the focus on the divergence in unit labor costs as the driving force of these imbalances. As such, this book provides a comprehensive policy critique of the EU’s export-led growth strategy based on declining unit labor costs.
Author | : Jean-Laurent Rosenthal |
Publisher | : Harvard University Press |
Total Pages | : 291 |
Release | : 2011-04 |
Genre | : Business & Economics |
ISBN | : 0674057910 |
Download Before and Beyond Divergence Book in PDF, Epub and Kindle
Why did sustained economic growth arise in Europe rather than in China? The authors combine economic theory and historical evidence to argue that political processes drove the economic divergence between the two world regions, with continued consequences today that become clear in this innovative account.