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European Monetary Union

Theory, Evidence, and Policy

  • Book
  • © 1999

Overview

Authors:
  1. Michael Carlberg

    1. Department of Economics, Federal University, Hamburg, Germany

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

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Table of contents (20 chapters)

  1. Front Matter

    Pages I-XIV
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  2. Introduction

    1. Introduction

      • Michael Carlberg
      Pages 1-7

  3. Brief Survey of the Literature

    1. Brief Survey of the Literature

      • Michael Carlberg
      Pages 9-11

  4. Simple Models

    1. Front Matter

      Pages 13-13
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    2. Small Country in Large Union

      • Michael Carlberg
      Pages 15-23

    3. Small Union as a Whole

      • Michael Carlberg
      Pages 23-31

  5. Small Union

    1. Front Matter

      Pages 33-33
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    2. Small Union of Two Countries

      • Michael Carlberg
      Pages 35-95

    3. Small Union of Three Countries

      • Michael Carlberg
      Pages 97-103

    4. Small Union of Ten Countries

      • Michael Carlberg
      Pages 105-108

    5. No Capital Mobility between Union and Rest of the World

      • Michael Carlberg
      Pages 109-120

  6. Small Union and Associated Countries

    1. Front Matter

      Pages 121-121
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    2. Small Union as a Whole

      • Michael Carlberg
      Pages 123-142

    3. Small Union of Two Countries

      • Michael Carlberg
      Pages 143-146

    4. Summary

      • Michael Carlberg
      Pages 147-149

  7. Large Union

    1. Front Matter

      Pages 151-151
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    2. Large Union and Rest of the World

      • Michael Carlberg
      Pages 153-167

    3. Small Country in Large Union

      • Michael Carlberg
      Pages 169-170

    4. Large Union of Two Countries

      • Michael Carlberg
      Pages 171-184

    5. No Capital Mobility between Union and Rest of the World

      • Michael Carlberg
      Pages 185-191
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Keywords

About this book

This book explores the new macroeconomics of the European Monetary Union. It carefully discusses the effects of shocks and policy measures on em­ ployment, 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 of economic policy are monetary policy by the Euro­ countries. The instruments pean 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. The monetary union can be small or large. I had many helpful talks with Gerd Focke, Daphni-Marina Papadopoulou, Franco Reither, Wolf Schafer, Christine Schafer-Lochte, and Michael Schmid. In addition, Michael Brauninger and Michael Cyrus carefully discussed with me all parts of the manuscript. Last but not least, Doris Ehrich did the secretarial work as excellently as ever. I wish to thank all of them. Executive Summary 1) Small monetary union of two identical countries, say Gennany and France. The monetary union is a small open economy with perfect capital mobili­ ty. Let us begin with fiscal policy.

Authors and Affiliations

  • Department of Economics, Federal University, Hamburg, Germany

    Michael Carlberg

Bibliographic Information

  • Book Title: European Monetary Union

  • Book Subtitle: Theory, Evidence, and Policy

  • Authors: Michael Carlberg

  • Series Title: Contributions to Economics

  • DOI: https://doi.org/10.1007/978-3-642-86652-4

  • Publisher: Physica Heidelberg

  • eBook Packages: Springer Book Archive

  • Copyright Information: Springer-Verlag Berlin Heidelberg 1999

  • Softcover ISBN: 978-3-7908-1191-9Published: 29 March 1999

  • eBook ISBN: 978-3-642-86652-4Published: 06 December 2012

  • Series ISSN: 1431-1933

  • Series E-ISSN: 2197-7178

  • Edition Number: 1

  • Number of Pages: XIV, 257

  • Topics: European Integration, Macroeconomics/Monetary Economics//Financial Economics

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