New Political Economy of Exchange Rate Policies and the Enlargement of the Eurozone (Contributions to Economics)

✍ Scribed by Christian H. Fahrholz

Year: 2006
Tongue: English
Leaves: 157
Edition: 1
Category: Library

No coin nor oath required. For personal study only.

✦ Synopsis

This work examines the political economy of exchange-rate policies in the context of the eastward enlargement of the eurozone. The analysis shows that prospective members of the EMU are likely to pass on some of the incurred Maastricht costs of convergence to the current EMU-members. The transmission mechanism is an altered exchange-rate policy that is carried out utilizing a "threaten-thy-neighbour"-strategy. The nature of the arising conflict between current and prospective EMU-members originates from both parties' admitted inclination to complete the enlargement process, complicated by their disinclination to bear the costs. The ensuing moral-hazard behaviour of the CEECs proves to be one of brinkmanship. The subsequent bargaining game results in a robust outcome most likely in terms of providing extra European funding. This may then ensure a stabilization of the CEECs' convergence toward the EMU, and a successful completion of eastward enlargement of the eurozone.

📜 SIMILAR VOLUMES

New Political Economy of Exchange Rate P

📁 New Political Economy of Exchange Rate Policies and the Enlargement of the Eurozone

✍ Dr. Christian H. Fahrholz (auth.) 📂 Library 📅 2007 🏛 Physica-Verlag Heidelberg 🌐 English

This work examines the political economy of exchange-rate policies in the context of the eastward enlargement of the eurozone. The analysis shows that prospective members of the EMU are likely to pass on some of the incurred Maastricht costs of convergence to the current EMU-members. The trans

Currency Politics: The Political Economy

📁 Currency Politics: The Political Economy of Exchange Rate Policy

✍ Jeffry A. Frieden 📂 Library 📅 2014 🏛 Princeton University Press 🌐 English

The exchange rate is the most important price in any economy, since it affects all other prices. Exchange rates are set, either directly or indirectly, by government policy. Exchange rates are also central to the global economy, for they profoundly influence all international economic activity. D

Currency Politics: The Political Economy

📁 Currency Politics: The Political Economy of Exchange Rate Policy

✍ Jeffry A. Frieden 📂 Library 📅 2014 🏛 Princeton University Press 🌐 English

The exchange rate is the most important price in any economy, since it affects all other prices. Exchange rates are set, either directly or indirectly, by government policy. Exchange rates are also central to the global economy, for they profoundly influence all international economic act

Structural Change and Exchange Rate Dyna

📁 Structural Change and Exchange Rate Dynamics: The Economics of EU Eastern Enlargement

✍ Paul J.J. Welfens, Anna Wziatek-Kubiak 📂 Library 📅 2005 🏛 Springer 🌐 English

Structural change, economic growth and adequate exchange rate adjustment are key challenges in the context of EU eastern enlargement as are consistent macroeconomic policies. The authors focus on sectoral adjustment across industries in catching-up countries and explain changes in the composition of

Structural Change and Exchange Rate Dyna

📁 Structural Change and Exchange Rate Dynamics: The Economics of EU Eastern Enlargement

✍ Professor Dr. Paul J.J. Welfens, Professor Dr. Anna Wziątek-Kubiak (eds.) 📂 Library 📅 2005 🏛 Springer-Verlag Berlin Heidelberg 🌐 English

Structural change, economic growth and adequate exchange rate adjustment are key challenges in the context of EU eastern enlargement as are consistent macroeconomic policies. The authors focus on sectoral adjustment across industries in catching-up countries and explain changes in the composit

From Tsarism to the New Economic Policy:

📁 From Tsarism to the New Economic Policy: Continuity and Change in the Economy of the USSR

✍ R. W. Davies (eds.) 📂 Library 📅 1990 🏛 Palgrave Macmillan UK 🌐 English