Macroeconomic Policy And Institutions During The Transition To European Union Membership
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| Author | : William H. Branson |
| Publisher | : |
| Total Pages | : 40 |
| Release | : 1998 |
| Genre | : Economic stabilization |
| ISBN | : |
Download Macroeconomic Policy and Institutions During the Transition to European Union Membership Book in PDF, Epub and Kindle
A framework is developed for macroeconomic policy analysis in four countries of Central Europe (CE) in transition to EU membership (Czech Republic, Hungary, Poland, and Slovakia). A Multi-Annual Fiscal Adjustment Strategy (MAFAS) and a Pre-Pegging Exchange Rate Regime (PPERR) appropriate for maintaining internal and external balance are described and evidence on budgetary procedures is presented, in comparison with those prevailing in EU member states. The comparison suggests that the four CE countries are better fit for fiscal stabilization than Greece, Spain and Portugal were in the 1970s. Nevertheless, there is still much room for institutional improvement. A stronger commitment mechanism to fiscal targets at the preparatory stage would improve fiscal performance in all four countries. The adoption of a kind of convergence program would also be made easier if some group procedures can be adopted among them. The four countries also appear to have moved closer to sustainability in their external and internal balance in the last few years so that a MAFAS and a PPERR become credible. The fact that they established CEFTA (which Slovenia since joined) also helps set them apart from other EU associates in the region.
| Author | : William H. Branson |
| Publisher | : |
| Total Pages | : 25 |
| Release | : 1998 |
| Genre | : |
| ISBN | : |
Download Macroeconomic Policy and Institutions During the Transition to European Union Memmbership Book in PDF, Epub and Kindle
| Author | : |
| Publisher | : |
| Total Pages | : 25 |
| Release | : 1998 |
| Genre | : |
| ISBN | : |
Download Macroeconomic Policy and Institutions During the Transition to European Union Menbership Book in PDF, Epub and Kindle
| Author | : Mr.Martin Cihak |
| Publisher | : International Monetary Fund |
| Total Pages | : 69 |
| Release | : 2009-03-01 |
| Genre | : Business & Economics |
| ISBN | : 1451872151 |
Download Five Years After Book in PDF, Epub and Kindle
The proximity of the European Union, the prospect of membership, and actual entry by the New Member States (NMS) increased economic and financial integration in the region, leading to fast economic growth based on sizeable capital inflows. EU membership helped in developing sound macroeconomic and financial stability frameworks in the NMS. However, these frameworks remain work in progress and as such could not safeguard against private sector exuberance or risky policies, especially in the face of an unprecedented global financial crisis. Hence, more prudent policies and further strengthening of policy frameworks, especially with respect to financial stability, seem warranted.
| Author | : William Mitchell |
| Publisher | : Edward Elgar Publishing |
| Total Pages | : 280 |
| Release | : 2006-01-01 |
| Genre | : Business & Economics |
| ISBN | : 9781781956366 |
Download Growth and Cohesion in the European Union Book in PDF, Epub and Kindle
This book is a critical review of current fiscal and monetary policy in Europe and presents results of both empirical research and a discussion of the theoretical framework behind the policy of the ECB and the Stability and Growth Pact.
| Author | : Francesco Farina |
| Publisher | : Routledge |
| Total Pages | : 238 |
| Release | : 2007-11-08 |
| Genre | : Business & Economics |
| ISBN | : 1134109385 |
Download Macroeconomic Policy in the European Monetary Union Book in PDF, Epub and Kindle
Providing readers with a multi-faceted assessment of the implementation of fiscal policies in the euro zone and their macroeconomic effects five years after the inception of the euro, this book, international in perspective and scope, is the first reliable reference source for discussions in this area for both academics and policy makers. Comprising contributions from distinguished researchers from different European countries and institutions the issues addressed include the: monetary and fiscal policy-mix evolution and control of fiscal aggregates over the business cycle and their implications for the SGP rules accountability of debt evolution financial spill-over of national fiscal policies measurement and assessment of automatic stabilizers. Based on empirical evidence as well as being firmly rooted in theoretical analyses and giving particular emphasis to the constraint of the Stability and Growth Pact on the one hand and the presence of a single monetary policy on the other, this book is an invaluable tool students and researchers engaged with macroeconomic stabilization and monetary and fiscal policy interactions, as well as professionals in the public sector and the financial institutions of the EU.
| Author | : Charles Harvie |
| Publisher | : |
| Total Pages | : 50 |
| Release | : 1996 |
| Genre | : Economic stabilization |
| ISBN | : 9780864184276 |
Download Economic Transition and Macroeconomic Performance in the Czech Republic, Hungary and Poland Book in PDF, Epub and Kindle
| Author | : C. Randall Henning |
| Publisher | : Peterson Institute for International Economics |
| Total Pages | : 104 |
| Release | : 1997 |
| Genre | : Business & Economics |
| ISBN | : |
Download Cooperating with Europe's Monetary Union Book in PDF, Epub and Kindle
Europe's monetary union will represent the most profound transformation of the international monetary system since the transition from fixed to flexible exchange rates in the early 1970s. It will compete with the erosion of American dominance and the dramatic increase in capital mobility for the distinction of being the most far-reaching change in the global monetary system since the Bretton Woods conference of 1944. Economic and Monetary Union (EMU) will create in Europe a new monetary actor with an economic size roughly comparable to the United States, ushering in a new era in international monetary relations. Nonetheless, while broad interests coincide, the creation of the monetary union will pose challenges to American, Japanese, and other non-European policymakers. Europe's monetary union could prove to be a difficult partner in international monetary cooperation. Henning recommends that European institutions and policy processes be strengthened, representation of the monetary union in the G-7 be consolidated, and that European, American, and Japanese authorities cooperate to reduce instability during the transition to monetary union.
| Author | : Ronald MacDonald |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 286 |
| Release | : 2012-12-06 |
| Genre | : Business & Economics |
| ISBN | : 1461513855 |
Download Central Europe towards Monetary Union: Macroeconomic Underpinnings and Financial Reputation Book in PDF, Epub and Kindle
A key objective of the Central European Economies (CEE) on their transition path from planned to more market-oriented economies has been membership of the European Union (EU). The start of Economic and Monetary Union (EMU) in 1999 has added membership of the EMU to the agenda for the CEEs. The task of the so-called Visègrad countries (the Czech and Slovak Republics, Hungary and Poland) of preparing for EU and EMU membership is the key theme underlying the papers contained in this volume. There are many issues to be resolved before the Visègrad countries are admitted into the EU, and this volume focuses on the issues relating to macroeconomic policies and financial sector structures. The chapters of Central Europe Towards Monetary Union: Macroeconomic Underpinnings and Financial Reputation contain new theoretical and empirical results and also comprehensive institutional overviews. The intended readership of the book is policy makers and economists working in the academic and financial sectors.
| Author | : M. Landesmann |
| Publisher | : Springer |
| Total Pages | : 444 |
| Release | : 2004-04-30 |
| Genre | : Business & Economics |
| ISBN | : 0230523692 |
Download Shaping the New Europe Book in PDF, Epub and Kindle
This volume brings together contributions on the major economic policy issues which have opened up as a result of the immanent process of European Union Enlargement. The issues analyzed range from modelling and analyzing the costs and benefits of enlargement, to challenges for macroeconomic policy both at the EU level and in the new member countries to the state of affairs in the new member countries with respect to sectoral policy reforms such as those undertaken in the financial sector and in competition policy, and the impact of enlargement on Europe's trade policy agenda.
