Adjusting to EMU
Adjusting to EMU

Author: B. Ardy

Publisher: Springer

Published: 2005-11-01

Total Pages: 363

ISBN-13: 0230554741

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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.

Risks, Reform, Resistance, and Revival
Risks, Reform, Resistance, and Revival

Author: Maria Green Cowles

Publisher:

Published: 2000

Total Pages: 492

ISBN-13: 9780198297574

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With contributions from leading scholars, this book examines the European Union in a theoretically informed, empirically grounded manner. The book begins by exploring the evolving nature of the European polity and its capacity for change. This is the fifth volume in the biannual series State of the European Union produced under the auspices of the American European Community Studies Association (ECSA).

Adjustment in EMU
Adjustment in EMU

Author: Sven Langedijk

Publisher:

Published: 2007

Total Pages: 64

ISBN-13:

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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.

EMU and Portfolio Adjustment
EMU and Portfolio Adjustment

Author: Kpate Adjaouté

Publisher: Centre for Economic Policy Research

Published: 2000

Total Pages: 78

ISBN-13: 9781898128588

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The advent of the euro is a significant event for portfolio managers, both within and outside the monetary union. The euro will affect portfolio decisions through a variety of channels and the emergence of a single currency marks the disappearance of explicit and psychological barriers to international investing. The set of investment opportunities qualifying as 'domestic' is expanding, while the need for diversification across currencies must now be met by an increased demand for assets which are not denominated in euros. This paper examines the principal factors influencing the portfolio reallocation process following the introduction of the euro. Three broad categories of possible portfolio allocation are considered: domestic versus non-domestic investment, debt versus equity investment, and public debt versus private debt investment.

Adjusting to EU Enlargement
Adjusting to EU Enlargement

Author: Constantine A. Stephanou

Publisher: Edward Elgar Publishing

Published: 2006-01-01

Total Pages: 264

ISBN-13: 9781781959084

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Before the latest EU enlargement substantial changes in the integration process were predicted as a result of the accession of 10 new member states, with some forecasting cataclysmic consequences. This book, the first ex post assessment of EU enlargement, provides evidence to the contrary, while also providing examples in which the new members have been able to influence the EU policy output with their liberal attitudes on economic and social policy.

Two Tiers Or Two Speeds?
Two Tiers Or Two Speeds?

Author: James Sperling

Publisher: Manchester University Press

Published: 1999

Total Pages: 244

ISBN-13: 9780719054020

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The sudden transformation of the Cold War security order in 1989 altered the structure of the European state system, and necessitates the striking of a new balance between the economic, political and military requirements of security. This volume focuses on the most important institutions of European security, the European Union and NATO. Both institutions are expanding, especially eastwards, in terms of their respective roles and membership.

Adjustment and Growth in the European Monetary Union
Adjustment and Growth in the European Monetary Union

Author: Francisco Torres

Publisher: Cambridge University Press

Published: 1993-10-21

Total Pages: 406

ISBN-13: 052144019X

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The Maastricht Treaty, signed in December 1991, set a timetable for the European Community's economic and monetary union (EMU) and clearly defined the institutional policy changes necessary for its achievement. Subsequent developments have demonstrated, however, the importance of many key issues in the transition to EMU that were largely neglected at the time. This volume reports the proceedings of a joint CEPR conference with the Banco de Portugal, held in January 1992. In these papers, leading international experts address the instability of the transition to EMU, the long-run implications of monetary union and the single market for growth and convergence in Europe. They also consider the prospects for inflation and fiscal convergence, regional policy and the integration of financial markets and fiscal systems. Attention focuses on adjustment mechanisms with differentiated shocks, region-specific business cycles and excessive industrial concentration and the cases for a two-speed EMU and fiscal federalism.

Wage Setting, Social Pacts and the Euro
Wage Setting, Social Pacts and the Euro

Author: Anke Hassel

Publisher: Amsterdam University Press

Published: 2006

Total Pages: 335

ISBN-13: 9053569197

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Politicians, economists, and social theorists tend to agree that globalization and neo-liberal economic policy have contributed to the decline of the social compacts underlying traditional European welfare states. Recently, however, social pacts have demonstrated an impressive resurgence, as governments across Europe facing necessary economic policy adjustments have chosen to view trade unions as vital negotiating partners rather than adversaries. Wage Setting, Social Pacts, and the Euro offers a theoretical understanding of the forces that have led to this new understanding, and of the challenges that increasing monetary integration will continue to pose.

Inclusion of Central European Countries in the European Monetary Union
Inclusion of Central European Countries in the European Monetary Union

Author: Paul C. de Grauwe

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 228

ISBN-13: 1461550734

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The creation of the European Economic and Monetary Union (EMU) and the introduction of the euro is a historical event for the EU countries. The debates on the desirability of the EMU provoked a vast economic literature dealing with the theory of the optimum currency area, costs and benefits of the EMU, symmetric vs. asymmetric shocks, alternative mechanisms of adjustment in a monetary union and so forth. Until recently, for the Central European candidate countries for a full membership in the EU, these issues seemed to be too far away, as they concentrated on devising their own monetary and exchange rate systems suitable for their transition period. The challenges of the EMU for the Central European countries were practically not dealt with in both Western and Eastern economic literature. The present book aims to fill this gap, by focusing on the most direct issue of relevance for the Central European countries with respect to the EMU - why, how and when these countries are expected to join the EMU. The papers included in this volume study the relationship between the EU accession process of the Central European candidate countries and their involvement in the process of European monetary integration.

Euro Adoption in Central and Eastern Europe
Euro Adoption in Central and Eastern Europe

Author: Ms.Susan Schadler

Publisher: International Monetary Fund

Published: 2005-04-18

Total Pages: 222

ISBN-13: 9781589063709

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Eight central and eastern European countries--the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovak Republic, and Slovenia--officially joined the European Union (EU) in May 2004. This auspicious milestone marked the beginning of the next major step for these countries in their move toward full integration with the EU-adoption of the euro. Seeking to consider the opportunities and challenges of euro adoption, the papers in this volume--by a noted group of country officials, academics, representatives of international institutions, and market participants-offer insight on the various dimensions of euro adoption in these eight new EU members--how they should prepare, whether an early move is optimal, and what pitfalls may occur along the way.