Monetary Policy, Fiscal Policies and Labour Markets: Macroeconomic Policymaking in the EMU

ISBN-13: 9780521823081 / Angielski / Twarda / 2004 / 392 str.

R. Beetsma (Universiteit van Amsterdam); Milan) C. Favero (Università Commerciale Luigi Bocconi;A. Missale (Università degli Studi di Milano)

Opis

A team of experts on the European economy focuses on the three major issues of fiscal policy, monetary policy and labor markets in this collection. They provide a survey of recent research on each topic as well as related state-of-the-art contributions. The early years of European Monetary Union have not been easy for the European economy. Economists are divided in their assessment of the effectiveness of key institutions, such as the European Central Bank, and their ability to provide macroeconomic stability and foster the reforms necessary to stimulate economic growth.

Spis treści

List of figures; List of tables; List of contributors; Acknowledgements; Editors' introduction; Part I. Monetary Policy: 1. The European Central Bank: a view from across the ocean Stephen G. Cecchetti; 2. Which measure of inflation should the ECB target? C. A. Favero; 3. An evaluation of alternative targeting rules for the ECB Pierpaolo Benigno and J. David López-Salido; 4. Inflation modelling in the euro area Fabio C. Bagliano, Roberto Golinelli and Claudio Morana; Part II. Fiscal Policies: 5. The interaction between monetary and fiscal policies in a monetary union: a review of recent literature Roel Beetsma and Xavier Debrun; 6. Independent or coordinated? Monetary and fiscal policy in EMU Luca Lambertini and Riccardo Rovelli; 7. Interaction of fiscal policies in the euro area: how much pressure on the ECB? Luca Onorante; 8. The macroeconomic impact of different speeds of debt stabilisation in EMU Campbell Leith and Simon Wren-Lewis; 9. Fiscal shocks and policy regimes in some OECD countries Giuseppe De Arcangelis and Serena Lamartina; 10. Monetary and fiscal policy interactions over the cycle: some empirical evidence V. Anton Muscatelli, Patrizio Tirelli and Carmine Trecroci; Part III. Labour Markets: 11. Monetary institutions, monetary union and unionised labour markets: some recent developments Alex Cukierman; 12. Inflationary performance in a monetary union with large wage setters Lilia Cavallari; 13. On the enlargement of currency unions: incentives to join and incentives to reform Andrew Hughes Hallett and Svend E. Hougaard Jensen; Index.