An economic analysis of monetary union

by Carlberg, Michael

Type Book

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Title Statements

Full title :An economic analysis of monetary union

Summary

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?

Edition Statements

Publication Date:2010

Publication Statements

Publisher(s):Springer
Place of Publication:Berlin
Language:eng
Publication Date:2010

Notes

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

Originally published: 2001