An Economic Analysis of Monetary Union / Edition 1

An Economic Analysis of Monetary Union / Edition 1

by Michael Carlberg, M. Carlberg
     
 

ISBN-10: 3540420452

ISBN-13: 9783540420453

Pub. Date: 06/15/2001

Publisher: Springer Berlin Heidelberg

This book explores the new economics of monetary union. It carefully discusses the effects of shocks and policies on output and prices. Shocks and policies are country-specific or common. They occur on the demand or supply side. Countries can differ in behavioural functions. Wages can be fixed, flexible, or slow. In addition, fixed wages and flexible wages can

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Overview

This book explores the new economics of monetary union. It carefully discusses the effects of shocks and policies on output and prices. Shocks and policies are country-specific or common. They occur on the demand or supply side. Countries can differ in behavioural functions. Wages can be fixed, flexible, or slow. In addition, fixed wages and flexible wages can coexist. Take for instance fixed wages in Germany and flexible wages in France. Or take fixed wages in Europe and flexible wages in America. A special feature of this book is the numerical estimation of shock and policy multipliers. Further topics are inflation and disinflation. Take for instance inflation in Germany and price stability in France. Then what policy is needed for disinflation in the union? And what will be the dynamic effects on Germany and France?

Product Details

ISBN-13:
9783540420453
Publisher:
Springer Berlin Heidelberg
Publication date:
06/15/2001
Edition description:
2001
Pages:
256
Product dimensions:
6.10(w) x 9.25(h) x 0.36(d)

Table of Contents

The Small Union as a Whole: Fixed Money Wages.- Flexible Money Wages.- Slow Money Wages.- The Small Union of Two Countries: Fixed Money Wages.- Flexible Money Wages.- Fixed Money Wages in Germany, Flexible Money Wages in France.- Slow Money Wages.- Different Behavioural Functions.- The World as a Whole: Fixed Money Wages.- Flexible Money Wages.- The World of Two Regions: Fixed Money Wages.- Flexible Money Wages.- Fixed Money Wages in Europe, Flexible Money Wages in America.

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