European Monetary Union : Theory, Evidence, and Policy /

This book explores the new macroeconomics of the European Monetary Union. It carefully discusses the effects of shocks and policy measures on employment, prices, and the current account. Take for instance a shock or a policy measure in a specific union country. Then what will be the results in the s...

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Bibliographic Details
Main Author: Carlberg, Michael
Corporate Author: SpringerLink (Online service)
Format: eBook
Language:English
Published: Heidelberg : Physica-Verlag HD, 1999.
Series:Contributions to economics.
Subjects:
Online Access:Connect to the full text of this electronic book

MARC

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520 |a This book explores the new macroeconomics of the European Monetary Union. It carefully discusses the effects of shocks and policy measures on employment, prices, and the current account. Take for instance a shock or a policy measure in a specific union country. Then what will be the results in the specific country, in the other union countries, and in the rest of the world? The targets of economic policy are full employment and price stability in each of the union countries. The instruments of economic policy are monetary policy by the European Central Bank and fiscal policies by national governments. What is the appropriate policy mix? A salient feature of this book is the numerical estimation of shock and policy multipliers. Money wages are fixed, flexible or downward rigid. 
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