The Euro As A Stabilizer In The International Economic System

Author: Robert A. Mundell
Publisher: Springer Science & Business Media
ISBN: 1461544572
Size: 76.81 MB
Format: PDF
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The Euro As A Stabilizer In The International Economic System from the Author: Robert A. Mundell. The introduction of the euro was an important event for the world economy and the international political system. For the first time in history, a substantial group of European countries-eleven of the fifteen members of the European Union including three members of the G-7-have voluntarily agreed to replace their national currencies with a single currency. The euro area has already become established as the second largest currency area in the world and will therefore become a major player in the international monetary system. The creation of the euro poses a number of interesting questions. Will the euro be a strong or a weak currency? Will the euro challenge the leading position hitherto held by the United States dollar and would sharing of the burdens and advantages of reserve currency status improve or worsen the stability of the international monetary system? How will the euro affect US relations with Europe? Does the formation of the euro intensify European integration in other fields? Is a bi-polar international monetary system viable? These and other issues motivated the Luxembourg Institute for European and International Studies and the Pierre Werner Foundation to organize an international conference in Luxembourg on December 3-4, 1998, on the eve of the birth of the euro. At the outset we were aware that the issue of the euro went far beyond pure economics. Money, after all, is too important a subject to be left to economists.

Managing Information Technology Resources In Organizations In The Next Millennium

Author: Information Resources Management Association. International Conference
Publisher: IGI Global
ISBN: 9781878289513
Size: 76.28 MB
Format: PDF, ePub
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Managing Information Technology Resources In Organizations In The Next Millennium from the Author: Information Resources Management Association. International Conference. Managing Information Technology Resources in Organizations in the Next Millennium contains more than 200 unique perspectives on numerous timely issues of managing information technology in organizations around the world. This book, featuring the latest research and applied IT practices, is a valuable source in support of teaching and research agendas.

Progress Towards External Adjustment In The Euro Area Periphery And The Baltics

Author: Joong Shik Kang
Publisher: International Monetary Fund
ISBN: 1498375847
Size: 31.21 MB
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Progress Towards External Adjustment In The Euro Area Periphery And The Baltics from the Author: Joong Shik Kang. The euro area periphery countries and the Baltic countries, which had large current account deficits in the run-up to the crisis, needed adjustment of relative prices to achieve both internal and external balances. Thus far, tangible progress has been made through lower wages and/or higher productivity relative to trading partners (ā€œinternal devaluationā€), which contributed to narrowing current account deficits and shifting output towards the tradables sector. While some early adjusters cut wages more rapidly followed by productivity improvement, others have only slowly improved productivity largely through labor shedding. This adjustment for most countries has come along with a substantial recession as the unit labor cost improvement has largely come from falling employment and much of the current account improvement from import compression. Going forward, these countries still need to generate growing tradables sector employment and to continue adjustment to prevent imbalances from returning as output gaps close.


Author: Matthew Lynn
Publisher: John Wiley & Sons
ISBN: 9781119990680
Size: 19.78 MB
Format: PDF, Kindle
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Bust from the Author: Matthew Lynn. In 2001, Greece saw its application for membership into the Eurozone accepted, and the country sat down to the greatest free lunch in economic history. However, the coming years of global economic prosperity would lead to unrestrained spending, cheap borrowing, and a failure to implement financial reform, leaving the country massively exposed to a financial crisisā€”which duly struck. In Bust: Greece, the Euro, and the Sovereign Debt Crisis, Bloomberg columnist Matthew Lynn explores Greece's spectacular rise and fall from grace and the global repercussions of its financial disaster. Page by page, he provides a thrilling account of the Greek financial crisis, drawing out its origins, how it escalated, and its implications for a fragile global economy. Along the way, Lynn looks at how the Greek contagion has spread like wildfire throughout Europe and explores how government ineptitude as well as financial speculators compounded the problem. Blending financial history, politics, and current affairs, Lynn skillfully tells the story of how one nation rode the wave of economic prosperity and brought a continent, a currency, and, potentially, the global financial system to its knees. Lively, engaging, and thought provoking, Bust reminds us just how interconnected the world really is.

The Euro Consequences For The Consumer And The Citizen

Author: Thierry Vissol
Publisher: Springer Science & Business Media
ISBN: 9780792385936
Size: 10.45 MB
Format: PDF, ePub, Docs
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The Euro Consequences For The Consumer And The Citizen from the Author: Thierry Vissol. This volume explores the consumer perspectives of the introduction of the Euro. In 1996, the European Commission set up a Euro Working Group, which brought together all the families of consumers' associations and is responsible for providing the Commission with reasoned opinions on consumer policies and measures. In 1997, they were joined by a team of psychologists, sociologists and experts in people's attitudes to money, of various nationalities. Their task was to take a closer look at all the psychosociological issues related to the Euro and, wherever possible, to draw practical conclusions about the measures to be taken in order to facilititate the changover to the Euro for the various population groups. The task had to be organised in such a way as to answer three questions: What is the changeover to the euro? What is a currency? What is a consumer?Ā£/LISTĀ£ The inter-disciplinary group of experts tackled this whole gamut of problems and issues. Their work, in cooperation with the commission's departments (the Directorate-General for Consumer Policy, DGXXIV) and the Euro Working Group of the Consumer Committee, considerably influenced the decisions of the Community authorities. The dossier presented here is an edited selection of the reports prepared by members of this group, covering the reports on an extremely wide range of questions. All these reports are available from DGXXIV. Furthermore, this book contains the main sections of the report prepared by the Euro Working Group of the Consumer Committee, which served as an important point of departure for the experts' work and is repeatedly referred to in their articles.

Development Centre Studies Don T Fix Don T Float

Author: Braga de Macedo Jorge
Publisher: OECD Publishing
ISBN: 9264195521
Size: 70.78 MB
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Development Centre Studies Don T Fix Don T Float from the Author: Braga de Macedo Jorge. Don Ģt Fix, Don Ģt Float is a book about credibility, or lack thereof. It deals with questions pertaining to international financial architecture from the perspective of developing countries, emerging markets and transition economies.


Author: Carolyn Dungee Nicholas
Publisher: AuthorHouse
ISBN: 1438992173
Size: 43.30 MB
Format: PDF, Docs
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Hilda from the Author: Carolyn Dungee Nicholas.

Managing The Impact Of Changes In The Value Of The Euro On Eu Funds

Author: Great Britain: National Audit Office
Publisher: The Stationery Office
ISBN: 9780102969504
Size: 69.73 MB
Format: PDF, Docs
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Managing The Impact Of Changes In The Value Of The Euro On Eu Funds from the Author: Great Britain: National Audit Office. The National Audit Office believes more could be done to manage the risk of a reduction in the value of EU funds to the UK in the event of a depreciation in the euro. The UK Government receives around Ā£5 billion from the European Union each year to fund EU programmes in the UK. However, the relative value of the pound and the euro varies significantly, with the exchange rate fluctuating by up to 14 per cent in a single month. A 14 per cent change can lead to an increase or decrease of Ā£700 million in the sterling value of funds provided by the EU if the exchange rate holds at that level. The use of forward contracts (a form of hedging where the department and a commercial bank agree an exchange rate in advance) has helped reduce the potential funds exposed to a fall in value from Ā£8.5 billion to Ā£2.4 billion in 2009-10. However wider use of hedging could reduce still further the amount of taxpayer funds at risk. Each department managing EU funds works in isolation on developing its policy. Such an arrangement is not cost effective. These departments would benefit from more detailed guidance from HM Treasury in this area, and from developing more pooled expertise to reduce duplication of effort. Government bodies require considerable expertise and support to ensure the most appropriate and cost-effective hedging arrangements are put in place.

Foreign Direct Investment In Europe

Author: Klaus Liebscher
Publisher: Edward Elgar Publishing
ISBN: 1847208797
Size: 24.77 MB
Format: PDF, Docs
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Foreign Direct Investment In Europe from the Author: Klaus Liebscher. This book provides authoritative academic and professional insights into the effects of foreign direct investment (FDI) on home and host countries. It highlights global trends and patterns, and explores related policy challenges all with a special focus on the countries in Central, Eastern and South-Eastern Europe. The book cuts through the existing data fog by offering a wide range of up-to-date academic findings and institutional expertise. Those findings are rounded off with lessons to be learned from historical developments (Ireland s success story), an evaluation of current trends (the role of China) and an investment promotion agency policy for attracting sustainable investment (CzechInvest). Contributions made by central bank officials, institutional representatives, members of academia and professionals provide for a uniquely complementary view on FDI developments and their implications. At a time of big changes in the FDI landscape, this book offers both empirical and econometric evidence on foreign direct investment and will be of great interest to economists and other experts in the fields of economic policy and European integration from central, commercial and investment banks, governments, international organizations, universities and research institutes. The special focus on FDI will attract those interested in, or directly involved in tackling the challenges of attracting sustainable investment or investing successfully abroad.