http://www.loc.gov/mods/v3 http://www.loc.gov/standards/mods/v3/mods-3-2.xsd
1 online resource (xiv, 255 pages 42 illustrations)
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.
Simple Models: Small Country in Large Union; Small Union as a Whole -- Small Union: Small Union of two Countries; Small Union of Three Countries; Small Union of Ten Countries; No Capital Mobility between Union and Rest of the World -- Small Union and Associated Countries: Small Union as a Whole; Small Union of Two Countries -- Large Union: Large Union and the Rest of the World; Small Country in Large Union; Large Union of Two Countries; No Capital Mobility between Union and Rest of the World -- Large Union and Associated Countries: Large Union as a Whole; Large Union of Two Countries.