The Euro
The First Decade
Published on 1. April 2010
Book
Hardback
1048 pages
978-92-79-09842-0 (ISBN)
Description
On 1 January 1999 eleven EU Member States adopted a new currency - the euro. The introduction of the euro was a remarkable feat in the history of European monetary, financial, economic and political integration. It was an event of worldwide significance. Despite much criticism and predictions that it would quickly collapse, the first decade of the euro has been a remarkable success. The euro area has now expanded to 16 members with a combined population of 326 million and contributes 16 per cent of global output. This 2010 book was the first to provide a wide-ranging strategic review of the first decade of the euro. Written by an impressive line-up of academic and professional economists, The Euro: The First Decade is an invaluable reference for scholars and policy makers who wish to know more about the successes and failures of the euro and the challenges that lie ahead.
More details
Language
English
Place of publication
Brussels
Belgium
Target group
College/higher education
Professional and scholarly
Illustrations
80 Tables, unspecified; 134 Line drawings, unspecified
Dimensions
Height: 235 mm
Width: 157 mm
Thickness: 65 mm
Weight
1818 gr
ISBN-13
978-92-79-09842-0 (9789279098420)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Persons
Marco Buti is Director-General of the Directorate-General for Economic and Financial Affairs at the European Commission. Servaas Deroose is Director for the Macroeconomy of the Euro Area and the Union in the Directorate-General of Economic and Financial Affairs at the European Commission. Vitor Gaspar is Acting Director-General of the Bureau of European Policy Advisers at the European Commission. Joao Noiguiera Martins is an economic advisor to the Director-General of the Directorate-General for Economic and Financial Affairs at the European Commission.
Content
List of figures; List of tables; List of contributors; Foreword Joaquin Almunia; Acknowledgements; 1. Euro: the first decade and beyond Marco Buti, Servaas Deroose, Vitor Gaspar and Joao Nogueira Martins; Part I. Historical Perspective: 2. A long term perspective on the euro Michael Bordo and Harold James; 3. Sui generis EMU Barry Eichengreen; Comment Niels Thygesen; Part II. OCA Theory Revisited: 4. The OCA theory and the path to EMU Francesco Mongelli; 5. A modern reconsideration of the theory of optimum currency areas Giancarlo Corsetti; Comment Peter Hoeller; Part III. Monetary Policy: 6. ECB credibility and transparency Petra Geraats; 7. Some observations on the ECB's monetary policy Manfred J. M. Neumann; Comment Frank Smets; Part IV. Financial Markets: 8. The ECB and the bond market Carlo Favero and Francesco Giavazzi; Comment Domenico Giannone, Michele Lenza and Lucrezia Reichlin; 9. Financial market integration under EMU Tullio Jappelli and Marco Pagano; Comment Simon Hayes; 10. The international role of the euro: a status report Elias Papaioannou and Richard Portes; Comment Andre Sapir; Part V. Fiscal Policy: 11. EMU's decentralised system of fiscal policy Juergen von Hagen and Charles Wyplosz; Comment Martin Larch and Lucio Pench; 12. Should we forsake automatic fiscal stabilization? Xavier Debrun, Jean Pisani-Ferry and Andre Sapir; Comment Gilles Saint-Paul; 13. Fiscal policy, intercountry adjustment and the real exchange rate in EMU Christopher Allsopp and David Vines; Comment Robert Kollmann; 14. Taxation policy in EMU Julian Alworth and Giampaolo Arachi; Comment Casper van Ewijk; Part VI. Growth, Trade and Volatility: 15. The impact of EMU on growth in Europe Ray Barrell, Dawn Holland, Iana Liadze and Olga Pomerantz; Comment Joerg Decressin and Emil Stavrev; 16. The impact of the euro on international stability and volatility Stefan Gerlach and Matthias Hoffmann; Comment Philipp Hartmann; 17. The impact of the euro on trade and FDI Richard Baldwin; Comment Karl Pichelmann; Part VII. Structural Reforms: 18. Labour markets in EMU: what has changed, and what needs to change Giuseppe Bertola; 19. How product market reforms lubricate shock adjustment in the euro area Jacques Pelkmans, Lourdes Acedo Montoya and Alessandro Maravalle; Comment Gert Jan Koopman; Part VIII. Enlargement and Governance: 20. Euro area enlargement and euro adoption strategies Zsolt Darvas and Gyoergy Szapary; 21. Governance in an enlarged euro area Iain Begg; Comment Jean Pisani-Ferry; References; Index.