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Stabilization Policy in an Exchange Rate Union

Transmission, Coordination and Influence on the Union Cohesion

  • Book
  • © 1994

Overview

Authors:
  1. Valeria Bonis

    1. Institute of Economics and Finance, University of Rome „La Sapienza”, Rome, Italy

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Part of the book series: Contributions to Economics (CE)

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Table of contents (7 chapters)

  1. Front Matter

    Pages I-IX
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  2. Introduction

    • Valeria De Bonis
    Pages 1-2

  3. The State of the Art

    • Valeria De Bonis
    Pages 3-30

  4. An IS-LM-AS Model for a “Small” Exchange Rate Union

    • Valeria De Bonis
    Pages 31-74

  5. Monetary and Fiscal Policy in a “Small” Exchange Rate Union a Strategic Analysis

    • Valeria De Bonis
    Pages 75-100

  6. An IS-LM-AS Model for a “Big” Exchange Rate Union

    • Valeria De Bonis
    Pages 101-137

  7. Monetary and Fiscal Policy in a “Big” Exchange Rate Union a Strategic Analysis

    • Valeria De Bonis
    Pages 139-168

  8. Conclusions

    • Valeria De Bonis
    Pages 169-172

  9. Back Matter

    Pages 173-173
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Keywords

About this book

The treaty of Maastricht envisages the full economic and monetary union in Europe. With increasing real and monetary integration policy decisions in individual member countries tend to have a growing impact on the other member countries of the European Community. Against this background the following study analyses within a unified theoretical framework the impact of monetary and fiscal policy pursued by one country on its own macroeconomic performance as well as on those of the other member countries and of the rest of the world. The analysis contrasts the cases of a small and a large European union relative to the rest of the world and distinguishes very clearly between the short-run, the medium-run and the long-run effects. Based on this the consequences for union cohesion and the scope for policy coordination are discussed. Since the analytical framework is defined by a three country model many results from the traditional policy coordination literature which relies on two country models are qualified. In contrasts to most previous research in this area particular attention is paid to the implications of asymmetries between the EC member countries. Furthermore, the structural parameters are in some instances not taken as given but as responsive to the integration process. In this context numerous links to the traditional literature on optimal currency areas are established and interesting implications for union cohesion during the transition are derived.

Authors and Affiliations

  • Institute of Economics and Finance, University of Rome „La Sapienza”, Rome, Italy

    Valeria Bonis

Bibliographic Information

  • Book Title: Stabilization Policy in an Exchange Rate Union

  • Book Subtitle: Transmission, Coordination and Influence on the Union Cohesion

  • Authors: Valeria Bonis

  • Series Title: Contributions to Economics

  • DOI: https://doi.org/10.1007/978-3-642-51526-2

  • Publisher: Physica Heidelberg

  • eBook Packages: Springer Book Archive

  • Copyright Information: Springer-Verlag Berlin Heidelberg 1994

  • Softcover ISBN: 978-3-7908-0789-9Published: 30 August 1994

  • eBook ISBN: 978-3-642-51526-2Published: 06 December 2012

  • Series ISSN: 1431-1933

  • Series E-ISSN: 2197-7178

  • Edition Number: 1

  • Number of Pages: X, 174

  • Number of Illustrations: 7 b/w illustrations

  • Topics: International Economics

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