The economics of monetary unions : past experiences and the Eurozone
Author(s)
Bibliographic Information
The economics of monetary unions : past experiences and the Eurozone
(Routledge studies in the European economy)
Routledge, 2021
- : pbk
Available at 2 libraries
  Aomori
  Iwate
  Miyagi
  Akita
  Yamagata
  Fukushima
  Ibaraki
  Tochigi
  Gunma
  Saitama
  Chiba
  Tokyo
  Kanagawa
  Niigata
  Toyama
  Ishikawa
  Fukui
  Yamanashi
  Nagano
  Gifu
  Shizuoka
  Aichi
  Mie
  Shiga
  Kyoto
  Osaka
  Hyogo
  Nara
  Wakayama
  Tottori
  Shimane
  Okayama
  Hiroshima
  Yamaguchi
  Tokushima
  Kagawa
  Ehime
  Kochi
  Fukuoka
  Saga
  Nagasaki
  Kumamoto
  Oita
  Miyazaki
  Kagoshima
  Okinawa
  Korea
  China
  Thailand
  United Kingdom
  Germany
  Switzerland
  France
  Belgium
  Netherlands
  Sweden
  Norway
  United States of America
Note
First published: 2020
Includes bibliographical references and index
Description and Table of Contents
Description
In this book, a historical analysis of the precedents of the euro is examined within the context of the current issues affecting the Eurozone and the long-term effects of the institutional changes implemented since 2010.
The book begins by placing the Eurozone challenges in the historical context of previous monetary unions, drawing on the experience of the gold standard. It then specifically focuses on the problems arising from the running of permanent trade imbalances within the Eurozone. The authors explore the advantages and disadvantages of being a member of the Eurozone and attempt to measure the optimality of a currency area by the calculation of an index on internal macroeconomic asymmetries. They address the proposals recently made in favour of a fiscal union in the Euro zone; including the economic and political feasibility of fiscal transfers in the Eurozone. The final two papers discuss whether the monetary union is in fact more than just that, and whether it will lead inevitably to some form of political union if it is to survive.
With chapters by leading experts from both Europe and the UK, this book will appeal to students in Economics, Finance, Politics, EU integration and European studies; as well as academics and professional economists doing research in EU integration, the Euro zone, monetary history and monetary and banking unions in Europe, the UK and elsewhere.
Table of Contents
1 Introduction PART 1 Lessons from previous currency and monetary unions 2 The flexibility of the classical gold standard (1870s-1914): any lessons for the eurozone? 3 A measurement of asymmetry in the running of the classical gold standard PART 2 Financing imbalances in a single monetary area: an assessment of TARGET2 4 Payment systems in a multinational currency union - is a reform of TARGET2 necessary? 5 The credit mechanics of monetary unions: a review of the eurosystem PART 3 When may monetary unions fail? 6 Pros and cons of being a euro country: a behavioral political economy perspective 7 An optimality index of the single currency: internal asymmetries within the eurozone since 1999 PART 4 Preserving unions: the eurozone 8 Public support for the euro and trust in the ECB: the first two decades of the common currency 9 Debt restructuring for the eurozone 10 The rationale for a safe asset and fiscal capacity for the eurozone PART 5 The eurozone: not just a monetary union? 11 Can the euro succeed without European political union? The organizational challenges facing a multi-government monetary union in the "managed currency" era 12 Proposals for reforming the eurozone: a critique
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