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Challenges for Central Banks in an Enlarged EMU

  • Book
  • © 2005

Overview

Editors:
  1. Fritz Breuss

    1. Europainstitut, Wirtschaftsuniversität Wien, Wien

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  2. Eduard Hochreiter

    1. Oesterreichische Nationalbank, Wien

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    You can also search for this editor in PubMed   Google Scholar

  • Analyses the challenges of an enlargement of the EMU
  • Contributions by economists and Central Bankers from current and future Euro-zone members

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Table of contents (18 chapters)

  1. Front Matter

    Pages i-4
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  2. Opening remarks

    • Klaus Liebscher
    Pages 5-9

  3. Central Bankers' View of the New Challenges

    1. The Challenges of EMU for a Small, Open Economy

      • Michael C. Bonello
      Pages 13-21

    2. Flaws in the design of the ECB

      • Paul De Grauwe
      Pages 23-27

    3. Accession Countries and ERM II

      • Sylvester C. W. Eijffinger
      Pages 29-43

    4. Challenges for Central Banks in an Enlarged EMU

      • Vahur Kraft
      Pages 45-50

    5. Challenges for Central Banks in an enlarged European Union and Euro Area

      • Gertrude Tumpel-Gugerell
      Pages 51-56

    6. New Challenges for Central Banks in an Enlarged EMU

      • Josef Christi
      Pages 57-67

  4. The Monetary Policy Strategy after EU Enlargement

    1. ECB Governance and Monetary Policy in the Enlarged EU

      • Hans Genberg
      Pages 71-93

    2. Is the structure of the ECB Adequate to the New Challenge?

      • Anne Sibert
      Pages 95-117

    3. The Monetary Policy Strategy after EU Enlargement

      • Pierre L. Siklos
      Pages 119-123

  5. Challenges for Financial Market Integration and Supervisory Issues

    1. The Euro, the European Financial Industry and its Supervisors

      • Claudia M. Buch
      Pages 127-142

  6. The Adoption of the Euro

    1. To Purgatory and Beyond

      • Willem H. Buiter
      Pages 145-186

    2. Credit Booms, Demand Booms, and Euro Adoption

      • Susan Schadler, Zuzana Murgasova, Rachel van Elkan
      Pages 187-221

    3. Credit booms and ERM II — comments on the papers of Susan Schadler and Willem Buiter

      • Henk Brouwer
      Pages 223-228

    4. The Adoption of the Euro

      • György Szapáry
      Pages 229-231

  7. Fiscal Policy Aspects of Monetary Policy

    1. Global Macroeconomic Policy Implications of an Enlarged EMU

      • Reinhard Neck, Gottfried Haber, Warwick J. McKibbin
      Pages 235-257

    2. Fiscal Policy Challenges for EU Acceding Countries

      • Jürgen von Hagen
      Pages 259-285

    3. How large are the Welfare Effects of EU Enlargement?

      • Helmut Frisch
      Pages 287-290

  8. Back Matter

    Pages 291-300
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Keywords

About this book

With the enlargement of the EU in May 2004, the possible enlargement of the Economic and Monetary Union also became an imminent issue: It can be expected that the 12 countries that have introduced the Euro so far will be joined by several others by the end of the decade. In this book, a set of internationally renowned economists from both sides of the Atlantic analyse the challenges that lie in front of the EU as it used to be, the hurdles that have to be cleared by possible candidates, and the impact of these developments on important economic sectors like the financial markets, etc. The scientists are supported by Central Bankers from current and future Euro-zone members who give their views on the problems and chances of Euro-accession. The book is thus providing an overall view of the major developments regarding the Euro in the years to come.

Editors and Affiliations

  • Europainstitut, Wirtschaftsuniversität Wien, Wien

    Fritz Breuss

  • Oesterreichische Nationalbank, Wien

    Eduard Hochreiter

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