Monetary policy part of a series on government public finance file. The latter includes the recent revamping of fiscal rules of the stability and growth pact, and calls for enhancing flexicurity in eu labour markets. Cesifo center for economic studies and ifo institute for economic research. The author addresses current issues surrounding the eurozone, including. The author analyses the costs and benefits associated with having one currency, as well as the practical workings and current issues involved with the euro. Political leaders did not understand the necessary economic conditions for a successful monetary union and did not recognize the inherent fragility of the monetary union. The economics of the monetary union and the eurozone. The survival of the eurozone hinges on the capacity of its leaders.
In part one the author examines the implications of adopting a common. The economics of monetary union request pdf researchgate. The seventh edition of economics of monetary union provides a concise analysis of the theories and policies relating to monetary union. Provides the most authoritative analysis of the fragility of the european monetary unification and proposes a range of strategies to make the eurozone more robust. European economic integration econ 461 spring 20 tth 11am, gardner 308 goal. I argue first that the endogenous dynamics of booms and busts that are endemic in capitalism continued to work at the national level in the eurozone and that the monetary union in no way disciplined these into a union wide dynamics. Economics of monetary union has established itself as a classic text for those studying the analysis of the theories and policies relating to monetary union. The ninth edition of economics of monetary union provides a concise analysis of the theories and policies relating to monetary union. The start of the european economic and monetary union emu has spurred a new interest in this debate. On the contrary the monetary union probably exacerbated.
Contents introduction ix part 1 costs and benefits of monetary union 1 the costs of a common currency 03 introduction 03 1. This sixth edition of economics of monetary union has been thoroughly revised and updated, expanding its coverage of the key issues relating to monetary union. Economics of monetary union enables students to gain a firm understanding of the theories and policies relating to monetary unions. He was a member of the belgian parliament from 1991 to 2003 and is honorary doctor of the university of sankt gallen switzerland, of the university of turku finland, and the university of genoa. Update your information in the repec author service. The only textbook that discusses both the costs and benefits of monetary unions and the actual workings of the most important monetary union in the world, the eurozone. Monetary unions european union countries european monetary system organisation summary summary. The author analyses both the costs and benefits associated with having one currency, as well as the practical workings and current issues with the euro. The twelfth edition of economics of monetary union provides a concise analysis of the theories and policies relating to monetary union.
Economics of monetary union download ebook pdf, epub. Monetary interdependence and international monetary reform. His books include the economics of monetary union, oxford, international money. Lse eu rope in question discussion paper series design. The ninth edition of economics of monetary union provides a concise analysis of the theories and policies relating to. The lack of eu political leadership is a deadweight loss to build a genuine economic and monetary union, and risks to blowup the whole project. The economic and monetary union european parliament.
Publication date 2000 topics european monetary system. The eleventh edition of economics of monetary union provides a concise analysis of the theories and policies relating to monetary union. In the first part of the book the author considers the implications of joining a monetary union. In the first part of the book the author considers the implications of joining a monetary union through discussion based on an economic costbenefit analysis. Fellowship initiative the future of emu european economy. Provides a strong analytical framework, giving students a solid basis for examining monetary union. He was a member of the belgian parliament from 1991 to 2003. To acquaint students with the fundamental economic and institutional features of european economic and monetary integration and related policies, including the eu customs. The eurozones present state of crisis originated from decisions made at its creation. I analyze the nature of the design failures of the eurozone.
The most uptodate insight into the topic, and the only textbook to fully assess the effects of leaving a monetary union. Pdff877a economics of monetary union enables students to gain a firm understanding of the theories and policies relating to monetary unions. Chartalism is a descriptive economic theory that details the procedures and consequences of using government. As a result, financial markets can force these countries sovereigns into default. European economic integration economics department. The decision to create a monetary union was motivated by political objectives and completely disregarded the economics of a monetary union.
Inclusion of central european countries in the european monetary union. Economics of monetary integration first published in 1992, which could not make up its mind whether a monetary union in europe was a good idea. The eurozone crisis emerged five years ago and is a long way from finished. Now that this has been averted, the question is what should be done to make the eurozone sustainable in the long run. This document was requested by the european parliaments committee on economic and monetary. The benefit you get by reading this book is actually information inside this reserve. Its past, present and future, study for the committee on economic and monetary affairs, policy department for economic, scientific and quality of life policies, european parliament, luxembourg, 2019. Request pdf the economics of monetary union the seventh edition of. The ninth edition of economics of monetary union provides a concise analysis of. Lse eu rope in question discussion paper series design failures in the eurozone. He is honorary doctor of the university of sankt gallen switzerland, of the. The text is updated every two years to ensure that the content is up to date in such a fast moving market.
400 1323 728 263 1311 1283 784 228 793 598 1546 1039 77 1082 1494 475 260 1171 545 397 664 1249 7 225 1072 900 846 1533 1223 107 672 820 208 791 1231 914 91 1153