Search Results for "european-monetary-integration-domestic-politics"

European Monetary Integration & Domestic Politics

European Monetary Integration & Domestic Politics

Britain, France, and Italy

  • Author: James I. Walsh
  • Publisher: Lynne Rienner Publishers
  • ISBN: 9781555878238
  • Category: Business & Economics
  • Page: 182
  • View: 4564
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This work explains why three countries that have faced similar problems of high inflation and currency depreciation since the 1970s - Britain, France and Italy - have pursued very different international monetary strategies.

Monetary Politics

Monetary Politics

Exchange Rate Cooperation in the European Union

  • Author: Thomas H. Oatley
  • Publisher: University of Michigan Press
  • ISBN: 9780472108244
  • Category: Business & Economics
  • Page: 222
  • View: 4617
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Examines the domestic politics of European monetary integration

Eurobondage

Eurobondage

The Political Costs of Monetary Union in Europe

  • Author: Jonathon Moses
  • Publisher: N.A
  • ISBN: 9781785522567
  • Category:
  • Page: 200
  • View: 3198
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This book examines the political costs of monetary union in Europe. It does so by gauging the degree to which four small European states - Iceland, Latvia, Hungary and Ireland - employed their monetary policies in response to the financial crisis. Contrary to popular and academic perception, Moses finds that small states in Europe still enjoy monetary policy autonomy, and this autonomy was used to prioritise the needs of domestic constituents over those of international markets. Eurozone member states, by contrast, pursued policies that prioritised the (long-term) needs of international lenders and European institutions, at the (short-term) expense of their own constituents. By illustrating the degree to which monetary policy autonomy still plays an effective role in responding to economic shocks, this book documents the substantial sacrifices that states have made in joining a suboptimum currency area. These are the political costs of monetary union in Europe.

Fiscal Aspects of European Monetary Integration

Fiscal Aspects of European Monetary Integration

  • Author: Michael M. Hutchison,Andrew Hughes Hallett,Svend E. Hougaard Jensen
  • Publisher: Cambridge University Press
  • ISBN: 9780521651622
  • Category: Business & Economics
  • Page: 351
  • View: 6438
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Monetary union in Europe started in 1999. Originally published in 1999, this book contains eleven papers and three review essays, which analyse a spectrum of empirical, theoretical, institutional and political aspects of the design and impact of fiscal policy in EMU. The contributors are some of the most experienced analysts in the field. Topics covered include the need for and consequences of fiscal coordination, constraints on national deficits and debt levels (the Stability Pact), and the role of fiscal federalism and insurance. The importance of coordinating fiscal and monetary policies is also considered in depth. This book will be of value to anyone with an interest in EMU and the development of European fiscal policy.

The political economy of European monetary unification

The political economy of European monetary unification

  • Author: Barry J. Eichengreen,Jeffry A. Frieden
  • Publisher: Westview Pr
  • ISBN: N.A
  • Category: Business & Economics
  • Page: 198
  • View: 343
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The book integrates political and economic analysis of Europe's Economic and Monetary Union in a format accessible to advanced undergraduates and graduate students.

A Europe made of money

A Europe made of money

the emergence of the European Monetary System

  • Author: Emmanuel Mourlon-Druol
  • Publisher: Cornell University Press
  • ISBN: 0801465494
  • Category: History
  • Page: 368
  • View: 7898
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A Europe Made of Money is a new history of the making of the European Monetary System (EMS), based on extensive archive research. Emmanuel Mourlon-Druol highlights two long-term processes in the monetary and economic negotiations in the decade leading up to the founding of the EMS in 1979. The first is a transnational learning process involving a powerful, networked European monetary elite that shaped a habit of cooperation among technocrats. The second stresses the importance of the European Council, which held regular meetings between heads of government beginning in 1974, giving EEC legitimacy to monetary initiatives that had previously involved semisecret and bilateral negotiations. The interaction of these two features changed the EMS from a fairly trivial piece of administrative business to a tremendously important political agreement. The inception of the EMS was greeted as one of the landmark achievements of regional cooperation, a major leap forward in the creation of a unified Europe. Yet Mourlon-Druol's account stresses that the EMS is much more than a success story of financial cooperation. The technical suggestions made by its architects reveal how state elites conceptualized the larger project of integration. And their monetary policy became a marker for the conception of European identity. The unveiling of the EMS, Mourlon-Druol concludes, represented the convergence of material interests and symbolic, identity-based concerns.

The Currency of Ideas

The Currency of Ideas

Monetary Politics in the European Union

  • Author: Kathleen R. McNamara
  • Publisher: Cornell University Press
  • ISBN: 9780801486029
  • Category: Business & Economics
  • Page: 185
  • View: 1169
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In the new preface to this paperback edition, Kathleen R. McNamara recounts the rapid progress made in 1998 toward European monetary integration and explores the significance of political forces in bringing about recent key developments.

The politics of economic and monetary union

The politics of economic and monetary union

integration and idiosyncrasy

  • Author: Erik Jones
  • Publisher: Rowman & Littlefield Pub Inc
  • ISBN: N.A
  • Category: Business & Economics
  • Page: 214
  • View: 9496
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This clearly written textbook provides a comprehensive exploration of the formation of an economic and monetary union among twelve of Europe's leading countries, the most exciting experiment in modern political economics. Erik Jones charts the embattled history of this extraordinary project, explains the reasons it developed, and assesses how the controversies surrounding it may evolve in the future. Can a single monetary policy satisfy the needs of twelve very different countries? Does the establishment of a European central bank herald the emergence of a new, more federal European Union? Will Europe's new single currency, the euro, come to rival the dollar for world leadership? Or will the euro collapse as conflicts between participating countries work to tear the European economic and monetary union apart? The Politics of Economic and Monetary Union offers surprising answers to these questions. By focusing attention on who wins and who loses from the creation of the euro, Erik Jones argues that the diversity of participating countries is a strength rather than a weakness, that Europe's single currency helps to maintain such diversity rather that to eliminate it, and that while the euro may never rival the dollar it is nevertheless unlikely to fall apart.

Les deux europes

Les deux europes

  • Author: Michele Affinito,Guia Migani,Christian Wenkel
  • Publisher: Peter Lang
  • ISBN: 9789052014814
  • Category: History
  • Page: 359
  • View: 5095
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L'histoire de l'Europe au XXe siecle est marquee par de nombreux dualismes dont les traces continuent a caracteriser l'Union europeenne. Pour mieux comprendre les problemes actuels de l'integration europeenne, ces dualismes sont etudies dans une perspective historique et declines en quatre axes de reflexion: Europe de l'Est "versus "Europe de l'Ouest, Europe comme reve "versus "Europe comme realite, Europe(s) politique(s) "versus "Europe(s) economique(s) et Europe puissance "versus "Europe comme instrument de puissance. Le present ouvrage recueille les actes du IIIe colloque international de l'association RICHIE (Reseau international de jeunes chercheurs en histoire de l'integration europeenne) qui s'est tenu a Naples (Italie) en decembre 2007 et qui a reuni une vingtaine de jeunes chercheurs de toute l'Europe pour presenter l'etat de leurs travaux en cours a travers cette perspective. The history of Europe in the 20th century is marked by several dualisms, traces of which continue to characterize the European Union. For a better understanding of the current problems of European integration, these dualisms should be studied in their historical context. This book is organized around four axes: Eastern Europe "versus "Western Europe, Europe as a dream "versus "Europe as a reality, Political Europe(s) "versus "Economic Europe(s), Europe as a power "versus "Europe as an instrument of power. The present work gathers the proceedings of the 3rd international conference of the RICHIE association (International Network of Young Researchers in European Integration History). The conference took place in Naples (Italy) in December 2007, and brought together young scholars from all over Europe to present their current research on this topic."

Architects of the Euro

Architects of the Euro

Intellectuals in the Making of European Monetary Union

  • Author: Kenneth Dyson,Ivo Maes
  • Publisher: Oxford University Press
  • ISBN: 019873591X
  • Category:
  • Page: 328
  • View: 3240
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Who were key figures in the making of European monetary union? Which ideas did they contribute to ensuring that monetary union would be sustainable? How prescient were they in identifying the necessary and sufficient foundations of a sustainable monetary union? This book provides the first systematic historical examination of key architects of European monetary union in the period before its launch in 1999. Using original archival and interview research, it investigates the intellectual and career backgrounds of these architects, their networking skills, and their own doubts and reservations about the way in which monetary union was being constructed. In the light of the later Euro Area, Architects of the Euro deals critically with not just their contribution to the making of European monetary union but also their legacy. The book brings together a distinguished group of scholars working on the history of Economic and Monetary Union.

European Monetary Union

European Monetary Union

hearing before the Subcommittee on Domestic and International Monetary Policy of the Committee on Banking and Financial Services, House of Representatives, One Hundred Fifth Congress, second session, April 28, 1998

  • Author: United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Domestic and International Monetary Policy
  • Publisher: Government Printing Office
  • ISBN: 9780160572845
  • Category: Political Science
  • Page: 152
  • View: 5002
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Germany and the Politics of Europe's Money

Germany and the Politics of Europe's Money

  • Author: Karl Kaltenthaler
  • Publisher: Duke University Press
  • ISBN: 9780822321712
  • Category: Business & Economics
  • Page: 146
  • View: 6344
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As countries in the European Union struggle to comply with the Maastricht Treaty, the question of monetary integration is at the forefront of European politics. This book explores how and why Germany--whose economic power makes it a pivotal player--has developed inconsistent policies toward European monetary institutions and how these institutions affect domestic politics and state policies toward the institutions.

Euros and Europeans

Euros and Europeans

Monetary Integration and the European Model of Society

  • Author: Andrew Martin,George Ross
  • Publisher: Cambridge University Press
  • ISBN: 9780521543637
  • Category: Business & Economics
  • Page: 385
  • View: 8016
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Economic and Monetary Union (EMU) is one of the most important developments in modern European politics. Building on two decades of monetary integration it transfers monetary policy, a core function of the modern state, to an independent European Central Bank (ECB) and limits member states' fiscal policy discretion. The ECB insists that growth and employment depend on 'flexibilizing' Europe's labor markets through deep reforms of the social policies and employment relations which comprise the 'European social model'. Member states retain authority over these areas at the heart of national politics, but how will EMU affect the domestic politics of institutional change? Will EMU reinforce de-regulation and retrenchment or will it facilitate reforms that maintain the protections against economic insecurity, inequality, and unilateral employer power the European model has provided? To address these questions, a transatlantic team of leading experts analyzes the evolving tensions between monetary integration and national social policies.

The Road to Maastricht

The Road to Maastricht

Negotiating Economic and Monetary Union

  • Author: Kenneth H. F. Dyson,Kevin Featherstone
  • Publisher: Oxford University Press
  • ISBN: 019829638X
  • Category: Business & Economics
  • Page: 859
  • View: 8734
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Named Outstanding Academic Book by ChoiceThe Road to Maastricht provides a comprehensive and definitive account of how Europe signed up to Economic and Monetary Union. The book examines the dynamics of the treaty negotiations, focusing of the beliefs, motives, strategies and use of institutions by the leading European Union players.

France and the Politics of European Economic and Monetary Union

France and the Politics of European Economic and Monetary Union

  • Author: Valerie Caton
  • Publisher: Palgrave Macmillan
  • ISBN: 9781137409164
  • Category: Political Science
  • Page: 232
  • View: 3737
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Why did France, with its strong sense of national identity, want to give up the Franc for the Euro? Drawing on the author's experience as a British diplomat in Paris and on new archive evidence, this book explores how France's drive for European Economic and Monetary Union arose from the challenges posed by unstable global financial markets, the political demands of a rising urban middle class and the restoration of Germany's economic strength. It traces the unresolved Franco-German tensions over the design and political governance of European economic co-operation which led to crisis, and asks whether this ambitious European project can still become the force for modernisation and growth, and the shield against the extremes of globalisation and nationalism, that France's leaders hoped it would be.

Deutsche Mark Politics

Deutsche Mark Politics

Germany in the European Monetary System

  • Author: Peter H. Loedel
  • Publisher: Lynne Rienner Publishers
  • ISBN: 9781555878351
  • Category: Business & Economics
  • Page: 261
  • View: 7958
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Why is Germany prepared to sacrifice the Deutsche Mark for European Monetary Union? This book, incorporating domestic, European, and global aspects of German monetary policy, suggests that the institutional relationship between the Bundesbank and the federal government, together with Germany's bargaining strategies toward European and global monetary-governance structures, can provide the answer to the Deutsche Mark puzzle. Examining the record from 1985 through May 1998, the author challenges conceptions of the Bundesbank's independence. He also explores the ability of external structures to affect German monetary decisions. His presentation of political and economic forces offers fresh insight into the factors shaping German monetary politics and the future of EMU.

Currency Politics

Currency Politics

The Political Economy of Exchange Rate Policy

  • Author: Jeffry A. Frieden
  • Publisher: Princeton University Press
  • ISBN: 1400865344
  • Category: Business & Economics
  • Page: 320
  • View: 5376
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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. Despite the critical role of exchange rate policy, there are few definitive explanations of why governments choose the currency policies they do. Filled with in-depth cases and examples, Currency Politics presents a comprehensive analysis of the politics surrounding exchange rates. Identifying the motivations for currency policy preferences on the part of industries seeking to influence politicians, Jeffry Frieden shows how each industry's characteristics—including its exposure to currency risk and the price effects of exchange rate movements—determine those preferences. Frieden evaluates the accuracy of his theoretical arguments in a variety of historical and geographical settings: he looks at the politics of the gold standard, particularly in the United States, and he examines the political economy of European monetary integration. He also analyzes the politics of Latin American currency policy over the past forty years, and focuses on the daunting currency crises that have frequently debilitated Latin American nations, including Mexico, Argentina, and Brazil. With an ambitious mix of narrative and statistical investigation, Currency Politics clarifies the political and economic determinants of exchange rate policies.

Challenges for Economic Policy Coordination within European Monetary Union

Challenges for Economic Policy Coordination within European Monetary Union

  • Author: Andrew Hughes Hallett,Peter Mooslechner,Martin Schürz
  • Publisher: Springer Science & Business Media
  • ISBN: 1475747381
  • Category: Political Science
  • Page: 220
  • View: 5886
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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.

Unions, Central Banks, and EMU

Unions, Central Banks, and EMU

Labour Market Institutions and Monetary Integration in Europe

  • Author: Bob Hancké
  • Publisher: Oxford University Press
  • ISBN: 0199662096
  • Category: Business & Economics
  • Page: 132
  • View: 5539
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This book examines the crisis of EMU through the lenses of comparative political economy. It retraces the development of wage-setting systems in the core and peripheral EMU member states, and how these contributed to the increasing divergence between creditor and debtor states in the late 2000s. Starting with the construction of the Deutschmark bloc, through the Maastricht process of the 1990s, and into the first decade of EMU, this book analyzes how labour unions and wage determination systems adjusted in response to monetary integration and, in turn, influenced the shape that monetary union would eventually take. Before the introduction of the Euro, labour unions were disciplined by central banks and governments, after social conflict in the north of the continent and with the use of social pacts in the others. Since controlling inflation had become the main goal of macro-economic policy, national central banks acted as a backstop to keep militant unions and profligate governments under control. Public sector wages thus were subordinated to manufacturing wages, a set-up policed by export sector unions, aided by the central bank. With the introduction of the single currency, the European Central Bank replaced the national central banks and, as a result, their capacity to control labour unions disappeared. The strong links between wages in the public sector unions and wages in the manufacturing export sector weakened dramatically in many countries, wage inflation re-emerged, and the stage was set for the current account divergences at the basis of the crisis of EMU.

The Euro

The Euro

European Integration Theory and Economic and Monetary Union

  • Author: Amy Verdun
  • Publisher: Rowman & Littlefield
  • ISBN: 9780742518841
  • Category: Business & Economics
  • Page: 282
  • View: 5333
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With euro banknotes and coins starting to circulate as of January 2002, this timely book comes at a crucial juncture for the European Union. Exploring the origins of and progress toward the introduction of the euro, the contributors focus on the importance of economic and monetary union (EMU) as part of the larger process of European integration. Thus, chapters consider the value and limits of a range of theoretical approaches for understanding economic and monetary integration, the pros and cons of EMU's institutional design, and country-specific experiences. With an international group of leading scholars representing a range of disciplines, this book offers a broad perspective on the dynamics of EMU.