Carlberg Macroeconomics of Monetary Union

1. Auflage 2007
ISBN: 978-3-540-73633-2
Verlag: Springer-Verlag
Format: PDF
Kopierschutz: Wasserzeichen (»Systemvoraussetzungen)

E-Book, Englisch, 284 Seiten

This is what we've all been waiting for - a book that demystifies the European community's monetary union. Unlike other books, this one provides readers with a practical yet sophisticated grasp of the macroeconomic principles necessary to understand a monetary union. The most important case in point is the Euro area, where policy targets are price stability and full employment. To illustrate all of this there are numerical simulations of monetary policy, fiscal policy, and wage policy.

Autoren/Hrsg.

Carlberg, Michael

Inhaltsverzeichnis

1;Preface;5
2;Executive Summary;7
3;Contents in Brief;9
4;Introduction;17
4.1;1. Subject and Approach;17
4.2;2. Monetary Policy in Europe;18
4.3;3. Fiscal Policies in Germany and France;19
4.4;4. Monetary and Fiscal Competition;20
4.5;5. Monetary and Fiscal Cooperation;21
4.6;6. Wage Policies in Germany and France;22
4.7;7. Monetary and Wage Competition;23
4.8;8. Monetary and Wage Cooperation;24
5;Part One Monetary and Fiscal Policies Basic Models;25
5.1;Chapter 1 Monetary Policy in Europe;26
5.1.1;1. The Model;26
5.1.2;2. Some Numerical Examples;29
5.2;Chapter 2 Fiscal Policies in Germany and France;38
5.2.1;1. The Model;38
5.2.2;2. Some Numerical Examples;41
5.3;Chapter 3 Competition between European Central Bank, German Government, and French Government;44
5.3.1;1. The Dynamic Model;44
5.3.2;2. Some Numerical Examples;47
5.4;Chapter 4 Cooperation between European Central Bank, German Government, and French Government;57
5.4.1;1. The Model;57
5.4.2;2. Some Numerical Examples;59
6;Part Two Monetary and Fiscal Policies Intermediate Models;67
6.1;Chapter 1 Simultaneous Decisions: Cold-Turkey Policies;68
6.2;Chapter 2 Simultaneous Decisions: Gradualist Policies;73
6.3;Chapter 3 Fiscal Shocks in Germany;78
6.4;Chapter 4 The Countries Differ in Size;82
6.4.1;1. Monetary Policy in Europe;82
6.4.2;2. Fiscal Policies in Germany and France;86
6.4.3;3. Monetary and Fiscal Competition;89
6.5;Chapter 5 The Countries Differ in Behaviour;91
6.5.1;1. Monetary Policy in Europe;91
6.5.2;2. Fiscal Policies in Germany and France;93
6.5.3;3. Monetary and Fiscal Competition;96
6.5.4;4. Monetary and Fiscal Cooperation;98
6.6;Chapter 6 Rational Policy Expectations;100
7;Part Three Monetary and Fiscal Policies The Case of Three Countries;102
7.1;Chapter 1 Monetary Policy in Europe;103
7.1.1;1. The Model;103
7.1.2;2. Some Numerical Examples;106
7.2;Chapter 2 Fiscal Policies in Germany, France and Italy;110
7.3;Chapter 3 Monetary and Fiscal Competition;115
7.4;Chapter 4 Monetary and Fiscal Cooperation;122
8;Part Four Monetary and Wage Policies Basic Models;128
8.1;Chapter 1 Wage Policies in Germany and France;129
8.1.1;1. The Model;129
8.1.2;2. Some Numerical Examples;131
8.2;Chapter 2 Competition between European Central Bank, German Labour Union, and French Labour Union;135
8.2.1;1. The Dynamic Model;135
8.2.2;2. Some Numerical Examples;138
8.3;Chapter 3 Cooperation between European Central Bank, German Labour Union, and French Labour Union;148
8.3.1;1. The Model;148
8.3.2;2. Some Numerical Examples;150
9;Part Five Monetary and Wage Policies Intermediate Models;158
9.1;Chapter 1 Simultaneous Decisions: Cold-Turkey Policies;159
9.2;Chapter 2 Simultaneous Decisions: Gradualist Policies;163
9.3;Chapter 3 Wage Shocks in Germany;168
9.4;Chapter 4 The Countries Differ in Size;172
9.4.1;1. Wage Policies in Germany and France;172
9.4.2;2. Monetary and Wage Competition;175
9.5;Chapter 5 The Countries Differ in Behaviour;177
9.5.1;1. Wage Policies in Germany and France;177
9.5.2;2. Monetary and Wage Competition;179
9.5.3;3. Monetary and Wage Cooperation;181
9.6;Chapter 6 Rational Policy Expectations;184
10;Part Six Monetary and Wage Policies The Case of Three Countries;186
10.1;Chapter 1 Wage Policies in Germany, France and Italy;187
10.2;Chapter 2 Monetary and Wage Competition;192
10.3;Chapter 3 Monetary and Wage Cooperation;199
11;Part Seven Monetary, Fiscal and Wage Policies;205
11.1;Synopsis;225
11.1.1;1. Monetary and Fiscal Policies;225
11.1.2;2. Monetary and Wage Policies;228
11.2;Conclusion;231
11.2.1;1. Monetary Policy in Europe;231
11.2.2;2. Fiscal Policies in Germany and France;234
11.2.3;3. Monetary and Fiscal Competition;236
11.2.4;4. Monetary and Fiscal Cooperation;240
11.2.5;5. Wage Policies in Germany and France;244
11.2.6;6. Monetary and Wage Competition;246
11.2.7;7. Monetary and Wage Cooperation;251
11.3;Result;255
11.3.1;1. Monetary Policy in Europe;255
11.3.2;2. Fiscal Policies in Germany and France;257
11.3.3;3. Monetary and Fiscal Competition;258
11.3.4;4. Monetary and Fiscal Cooperation;260
11.4;The Current Research Project;267
12;References;270
13;Index;282