ENGLISH

Macroeconomics of Monetary Union

By Professor Dr. Michael Carlberg (auth.)

Book information

Publisher
Springer-Verlag Berlin Heidelberg
Year
2007
ISBN
978-3-540-73632-5, 978-3-540-73633-2
DOI
10.1007/978-3-540-73633-2
Language
english
Format
PDF
Filesize
10 MB (9967953 bytes)
Edition
1
Pages
284\285
Orientation
yes
Scanned
yes
Time added
2013-10-22 08:19:25
Macroeconomics/Monetary Economics; International E

Description

This book, unlike other books, provides readers with a practical yet sophisticated grasp of the macroeconomic principles necessary to understand a monetary union. By definition, a monetary union is a group of countries that share a common currency. The most important case in point is the Euro area. Policy makers are the central bank, national governments, and national labour unions. Policy targets are price stability and full employment. Policy makers follow cold-turkey or gradualist strategies. Policy decisions are taken sequentially or simultaneously. The countries can differ in size or behaviour. Policy expectations are adaptive or rational. To illustrate all of this there are numerical simulations of monetary policy, fiscal policy, and wage policy.

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