International Policy Coordination and Exchange Rate Fluctuations

Author: William H. Branson
Publisher: University of Chicago Press
ISBN: 9780226071381
Format: PDF, Kindle
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Since the five largest industrial democracies concluded the Plaza Agreement in 1985, the theory and practice of international economic policy coordination has become the subject of spirited academic and public-policy debate. While some view policy coordination as crucial for the construction of an improved international monetary system, others fear that it risks delaying or weakening the implementation of macroeconomic and structural policies. In these papers and comments, prominent international economists consider past and present interpretations of the meaning of international policy coordination; conditions necessary for coordination to be beneficial both to the direct participants and the global economy; influential factors for the quantitative impact of coordination; obstacles to coordination; the most—and least—effective methods of coordination; and future directions of the coordination process, including processes associated with greater fixity of exchange rates. These studies will be readily accessible to policymakers, while offering sophisticated analyses to interested scholars of the global economy.

Challenges for Economic Policy Coordination within European Monetary Union

Author: Andrew J. Hughes Hallett
Publisher: Springer Science & Business Media
ISBN: 1475747381
Format: PDF, Docs
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The launch of European Monetary Union (EMU) marked the beginning of a new era, and its establishment has proved an impressive success at the technical, legal, and procedural level. After all, EMU has accelerated economic and political integration in the European Union and tied the economies of the Member States closer together. However, the performance of the euro, high unemployment rates, uneven output and investment growth, and the issue of structural reforms that have yet to be tackled have raised questions about the performance of EMU in practice. There is a general consensus on the justification for economic policy coordination. The existing literature on economic policy coordination, however, seems far from able to provide robust conclusions about how to organize the necessary interaction of institutions and policies. Therefore, there seems to be a case for re-examining the subject under the new framework set by EMU. The objective of such a reassessment is to enhance the understanding of what type of coordination and what institutional setting for policy coordination can be expected to be most favorable. Challenges for Economic Policy Coordination within European Monetary Union provides an intellectually stimulating contribution to the ongoing debate.

Global Disequilibrium in the World Economy

Author: Mario Baldassarri
Publisher: Springer
ISBN: 1349222690
Format: PDF, Docs
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The US twin deficit, Western European economic integration, Eastern Europe's transition towards a market economy, the debt burden of the Less Developed Countries, the growing and deepening discrimination against the rest of the world by new homogeneous areas such as the North America free trade area, the new Europe, and Japan are the issues at the heart of global disequilibrium in the world economy. This book brings together leading economists to analyse these issues and further the debate on the need for sound economic policies to avoid a crash on a global scale.

An Open Economy Macroeconomics Reader

Author: Mehmet Ugur
Publisher: Psychology Press
ISBN: 9780415253321
Format: PDF, ePub, Mobi
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This book draws together seminal contributions on the nature of macroeconomics in open economies and illuminates the material by using: * explanatory introductions to each piece * discussion questions * suggestions for further reading * reference to the key journal articles * boxed key terms. This is an essential guide to the subject for students, as commented upon by the most influential commentators.