The Euro has been in operation since January 1999 - just long enough to provide sufficient data for a first look at its actual performance. In contrast to the many other euro-studies that rely on forecasting and extrapolation from historical experiences, the eight studies in this book use post-1999 data to provide a first look at how the Euro is actually affecting trade, financial markets, macroeconomic policy making and Europe's economic performance. Although a definitive evaluation must wait for many more years of data, the studies by leading European and North American economists marshal the best available evidence to provide an early assessment. This volume offers the first empirical evaluation of the European monetary unification experience.
1. Policy Challenges of Euro Area Enlargement: Lucas Papademos.
2. The Currency Union Effect on Trade: Early Evidence from EMU: Alejandro Micco, Ernesto Stein and Guillermo Ordonez.
3. Divergent Inflation Rates in EMU: Patrick Honohan and Philip R. Lane.
4. Inflation Measurement and the ECB's Pursuit of Price Stability: A First Assessment: Stephen G. Cecchetti and Mark A. Wynne.
5. The Execution of Monetary Policy: A Tale of Two Central Banks: Leonardo Bartolini and Alessandro Prati.
6. Monetary Transmission in the Euro Area: Early Evidence: Ignazio Angeloni and Michael Ehrmann.
7. Yield Spreads on EMU Government Bonds: Lorenzo Codogno, Carlo Favero and Alessandro Missale.
8. Fiscal Policy and Monetary Integration in Europe: Jordi Gali and Roberto Perotti.
9. Life on the Outside: Economic Conditions and Prospects Outside Euroland: David Barr, Francis Breedon and David Miles.
Series: Economic Policy
Number Of Pages: 322
Published: 12th January 2004
Publisher: John Wiley and Sons Ltd
Country of Publication: GB
Dimensions (cm): 24.43 x 17.44 x 1.78
Edition Number: 1