Overview

"This study attempts to uncover the theoretical foundations of the central bank policy of a future European Central Bank. In part 1, the Bundesbank's current monetary policy is described as an example for a pragmatic monetarist approach to central bank policy. This approach is criticized from an ""endogenous money"" point of view, which is defined, econometrically elaborated and historically exemplified. Part 2 analyzes the way to a European Monetary Union (EMU) in general and its relation to the proposed central bank policy. The role of fiscal policy for a successful EMU is stressed and a suggestion for modelling the transmission mechanism in an ""endogenous money"" framework is made. Furthermore, the instruments of a European Central Bank and the role of private ECUSs are analyzed. The contributions in Part 3 discuss the widening of the EC and the EMS to northern and eastern Europe, plus the role of the ECU as an international reserve currency for the countries of eastern Europe during their transition to a market economy."

Full Product Details

Author:   Wolfgang Gebauer
Publisher:   Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
Imprint:   Physica-Verlag GmbH & Co
Dimensions:   Width: 12.70cm , Height: 1.40cm , Length: 20.30cm
Weight:   0.425kg
ISBN:  

9783790806908

ISBN 10:   3790806900
Pages:   259
Publication Date:   28 June 1993
Audience:   College/higher education ,  Professional and scholarly ,  Postgraduate, Research & Scholarly ,  Professional & Vocational
Format:   Paperback
Publisher's Status:   Active
Availability:   Out of stock  
The supplier is temporarily out of stock of this item. It will be ordered for you on backorder and shipped when it becomes available.

Table of Contents

0 Introduction.- 1 Part I: Endogenous Money.- 1.1 The Money Supply Approach: Empirical Evidence for Germany.- 1.2 Endogenous Money and Interest Rates in Germany.- 1.3 The Endogeneity of Money: Concepts, Methods and Doctrinal Influence of Monetary Theory.- 1.4 Currency Competition and Endogenous Money: Experiences from the Suffolk System, 1819–1858.- 2 Part II: Towards an European Central Bank Policy Design.- 2.1 Economic Convergence and Monetary Union.- 2.2 Five Years to Prepare the Final Stage of EMU: A German View.- 2.3 Towards a Common Monetary Policy in the Transition: The Role of Ecu and Required Reserves.- 2.4 Fiscal Policy Implications of the European Union.- 2.5 The (Term) Structure of Interest Rates as a Predictor of Real Economic Growth: An Econometric Analysis for Germany.- 2.6 The Evolution of Ecu Markets.- 3 Part III: External Issues.- 3.1 Economic Transformation and the Integration of Central and Eastern Europe in the European Community.- 3.2 Convertibility in Eastern Europe.- 3.3 Exchange Rate Pegging to the Ecu in Northern Europe: A Nordic View.

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