Macro-financial stability under EMU

by Philip R. Lane

This paper examines the cyclical behaviour of country-level macro-financial variables under EMU. Monetary union strengthened the covariation pattern between the output cycle and the financial cycle, while macro-financial policies at national and area-wide levels were insuffciently counter-cyclical during the 2003-2007 boom period. We critically examine the policy reform agenda required to improve macro-financial stability.

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Year of publication:	[2016]
Authors:	Lane, Philip R.
Publisher:	Frankfurt am Main, Germany : European Systemic Risk Board
Subject:	macroeconomic stabilisation \| nancial stability \| international capital flows \| in ation \| exchange rate \| Eurozone \| Euro area \| Kapitalmobilität \| Capital mobility \| Wechselkurspolitik \| Exchange rate policy \| Wechselkurs \| Exchange rate \| EU-Staaten \| EU countries \| Inflationsbekämpfung \| Anti-inflation policy \| Stabilisierungspolitik \| Stabilization policy \| Internationaler Finanzmarkt \| International financial market

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Extent:	1 Online-Ressource (circa 36 Seiten)
Series:	Working paper series. - Frankfurt am Main, Germany : European Systemic Risk Board, ISSN 2467-0677, ZDB-ID 2930716-8. - Vol. no 1 (February 2016)
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature ; Arbeitspapier ; Working Paper
Language:	English
ISBN:	978-92-95081-26-0
Other identifiers:	10.2849/392960 [DOI] hdl:10419/193508 [Handle]
Source:	ECONIS - Online Catalogue of the ZBW

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