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This is the introductory chapter to an NBER conference volume that examined the lessons to be drawn from the financial and currency crises of the late 1990s. The paper does not attempt to summarize the specific content of that meeting but provides the author's personal conclusions about crisis...
Persistent link: https://www.econbiz.de/10013245699
All of the attempts to end the euro crisis and to return the Eurozone countries to healthy growth rates of income and …
Persistent link: https://www.econbiz.de/10013030065
The real trade weighted value of the dollar fell 11 percent against the Federal Reserve Bank's index of major currencies during the 12 months through May 2011 and 31 percent during the past ten years. Four strong market forces are likely to cause further declines over the next several years: a...
Persistent link: https://www.econbiz.de/10013122016
The sharp gyrations of the dollar and of the trade deficit in the 1980s were among the most novel and least understood economic developments of the decade. This paper, which was written as part of the NBER project on American economic policy in the 1980s, examines the reasons for the dollar's...
Persistent link: https://www.econbiz.de/10013231211
The creation of the euro should now be recognized as an experiment that has led to the sovereign debt crisis in several … exist in most Eurozone countries. Although the European Central Bank managed the euro in a way that achieved a low rate of … monetary union. The emergence of these problems just a dozen years after the start of the euro in 1999 was not an accident or …
Persistent link: https://www.econbiz.de/10013118129
of American economists about the euro and the European Economic and Monetary Union on the tenth anniversary of the euro … of the euro was political, not economic and that the creation of the euro could lead to increased conflict within Europe …
Persistent link: https://www.econbiz.de/10012757919
This paper begins by discussing the inherent conflict between the simultaneous existence of a single currency for the countries of the European Economic and Monetary Union (EMU) and the independent fiscal policies of those countries. The Stability and Growth Pact was an attempt to reconcile that...
Persistent link: https://www.econbiz.de/10013211701