Research Catalog

Macroeconomic policy coordination in Europe : the erm and monetary union

Title: Macroeconomic policy coordination in Europe : the erm and monetary union / edited by Ray Barrell and John Whitley.
Publication: London ; Newbury Park, Calif. : Sage Publications, 1992.

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Status	Format	Access	Call Number	Item Location
Request for On-site Use Request Scan How do I pick up this item and when will it be ready?	Text	Request in advance	HG930.5 .M25 1992	Off-site

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Description

x, 286 pages : illustrations; 23 cm

Summary

Despite the progression towards the formation of European Monetary Union there still exists considerable disagreement between economists about the relative merits of the current European Monetary System (EMS), EMU and a return to independent policy under floating exchange rates.
This book is designed to contribute to this debate on monetary union in Europe by using large scale macroeconomic models of the world economy, including the OECD Interlink model and the widely used NiGEM model, to evaluate the EMU, the EMS and the floating exchange rate policies. Various modelling groups address the issues facing Europe and the implications for policy analysis.
The book illustrates some of the findings of studies which have evaluated the EMS and EMU and highlights the critical features which influence the different findings. In particular, it analyses the possible changes in wage bargaining under transition to EMU and the implications of these. The wider policy issues facing the European economies are discussed. Theoretically based analyses such as the nature of credibility and the role of exchange rate realignments are included.
The objective of the book is to show that the path to monetary union is possible, but that care has to be taken with the design of policies along that path.

Subject

Note

Bibliography (note)

Contents

Introduction / Ray Barrell and John Whitley -- 1. Evaluating the EMS and EMU using stochastic simulations: some issues / Paul R. Masson and Steven Symansky -- 2. ERM and EMU - survival, costs and prospects / Patrick Minford, Anupam Rastogi and Andrew Hughes Hallett -- 3. Forward looking wages and the analysis of monetary union / Bob Anderton, Ray Barrell and Jan Willem in't Veld -- 4. Wage regimes in a United Europe. A simulation study on QUEST / Gustav Adolf Horn and Rudolf Zwiener -- 5. Aspects of monetary union - model-based simulation results / John D. Whitley -- 6. Policy collaboration and information exchanges with risk averse policymakers: the case for making strategic model choices / A.J. Hughes Hallett -- 7. Is the road to monetary union paved with recession? / John Driffill and Marcus Miller -- 8. Exchange-rate realignments in the European Monetary System / Andrew Britton --
9. A supply-side view on European integration: the case of the EMU / Anthonie Knoester and Andre Kolodziejak -- 10. Current account imbalances and the role of exchange rates / Frank A.M. van Erp, Nico I.M. van Leeuwen and Hans R. Timmer -- 11. German reunification and European monetary policy / Jean-Pierre Chauffour, Helene Harasty and Jean Le Dem.

ISBN

LCCN

92050911

OCLC

Owning Institutions

Columbia University Libraries