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The Euro
The First Decade

$202.00

Joaquín Almunia, Marco Buti, Servaas Deroose, Vitor Gaspar, João Nogueira Martins, Michael Bordo, Harold James, Barry Eichengreen, Niels Thygesen, Francesco Mongelli, Giancarlo Corsetti, Peter Hoeller, Petra Geraats, Manfred J. M. Neumann, Frank Smets, Carlo Favero, Francesco Giavazzi, Domenico Giannone, Michele Lenza, Lucrezia Reichlin, Tullio Jappelli, Marco Pagano, Simon Hayes, Elias Papaioannou, Richard Portes, André Sapir, Jürgen von Hagen, Charles Wyplosz, Martin Larch, Lucio Pench, Xavier Debrun, Jean Pisani-Ferry, André Sapir, Gilles Saint-Paul, Christopher Allsopp, David Vines, Robert Kollmann, Julian Alworth, Giampaolo Arachi, Casper van Ewijk, Ray Barrell, Dawn Holland, Iana Liadze, Olga Pomerantz, Jörg Decressin, Emil Stavrev, Stefan Gerlach, Matthias Hoffmann, Philipp Hartmann, Richard Baldwin, Karl Pichelmann, Giuseppe Bertola, Jacques Pelkmans, Lourdes Acedo Montoya, Alessandro Maravalle, Gert Jan Koopman, Zsolt Darvas, György Szapáry, Iain Begg
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  • Date Published: April 2010
  • availability: Available
  • format: Hardback
  • isbn: 9789279098420

$202.00
Hardback

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  • 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.

    • First book to provide a comprehensive economic analysis of the first decade of the euro
    • Analyses key achievements and failures of the euro and identifies challenges to come
    • Written by a team of leading professional and academic economists, many of whom were intimately involved in the development of the euro
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    Product details

    • Date Published: April 2010
    • format: Hardback
    • isbn: 9789279098420
    • length: 1048 pages
    • copublisher: The Office for Official Publications of the European Communities
    • dimensions: 229 x 152 x 64 mm
    • weight: 1.7kg
    • contains: 134 b/w illus. 80 tables
    • availability: Available
  • Table of Contents

    List of figures
    List of tables
    List of contributors
    Foreword Joaquín Almunia
    Acknowledgements
    1. Euro: the first decade and beyond Marco Buti, Servaas Deroose, Vitor Gaspar and João 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 André Sapir
    Part V. Fiscal Policy:
    11. EMU's decentralised system of fiscal policy Jürgen von Hagen and Charles Wyplosz
    Comment Martin Larch and Lucio Pench
    12. Should we forsake automatic fiscal stabilization? Xavier Debrun, Jean Pisani-Ferry and André 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 Jörg 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 György Szapáry
    21. Governance in an enlarged euro area Iain Begg
    Comment Jean Pisani-Ferry
    References
    Index.

  • Editors

    Marco Buti, European Commission
    Marco Buti is Director-General of the Directorate-General for Economic and Financial Affairs at the European Commission.

    Servaas Deroose, 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, European Commission
    Vitor Gaspar is Acting Director-General of the Bureau of European Policy Advisers at the European Commission.

    João Nogueira Martins, European Commission
    João Noiguiera Martins is an economic advisor to the Director-General of the Directorate-General for Economic and Financial Affairs at the European Commission.

    Contributors

    Joaquín Almunia, Marco Buti, Servaas Deroose, Vitor Gaspar, João Nogueira Martins, Michael Bordo, Harold James, Barry Eichengreen, Niels Thygesen, Francesco Mongelli, Giancarlo Corsetti, Peter Hoeller, Petra Geraats, Manfred J. M. Neumann, Frank Smets, Carlo Favero, Francesco Giavazzi, Domenico Giannone, Michele Lenza, Lucrezia Reichlin, Tullio Jappelli, Marco Pagano, Simon Hayes, Elias Papaioannou, Richard Portes, André Sapir, Jürgen von Hagen, Charles Wyplosz, Martin Larch, Lucio Pench, Xavier Debrun, Jean Pisani-Ferry, André Sapir, Gilles Saint-Paul, Christopher Allsopp, David Vines, Robert Kollmann, Julian Alworth, Giampaolo Arachi, Casper van Ewijk, Ray Barrell, Dawn Holland, Iana Liadze, Olga Pomerantz, Jörg Decressin, Emil Stavrev, Stefan Gerlach, Matthias Hoffmann, Philipp Hartmann, Richard Baldwin, Karl Pichelmann, Giuseppe Bertola, Jacques Pelkmans, Lourdes Acedo Montoya, Alessandro Maravalle, Gert Jan Koopman, Zsolt Darvas, György Szapáry, Iain Begg

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