Within the New Consensus Macroeconomics, monetary policy is upgraded while fiscal policy is downgraded. This new monetary policy has been the main instrument of policy under the guise of inflation targeting, an approach pursued by a number of central banks worldwide. This book raises problems...

This book examines the slow growth and other problems experienced by the Eurozone in its early years, and the challenges which it now faces. The authors investigate the operation of monetary and fiscal policy in the Eurozone, the extent of structural reform and the reasons for it, and other topics

This edited volume analyses the channels through which EU membership contributed to the convergence process of member countries in the Baltics, Central-Eastern and South-Eastern Europe. These channels include trade, investment, finance, labour, and laws and institutions. Global integration has...

Luigi Einaudi made an outstanding contribution to economics during his long career as economist, historian and policy-maker. This book makes an important selection of his works available in English for the first time. Topics covered include: taxation of consumption rather than income; European...

Sebastian Dullien gives a novel explanation for unemployment and inflation in the Euro-Zone. He argues that unemployment stems from a lack of co-operation between unions and monetary authorities: In an economy with endogenous money as EMU, wage setters are responsible for price stability while...

David Howarth and Peter Loedel provide a theoretically inspired account of the creation, design and operation of the European Central Bank. Issues explored include the theoretical approaches to the ECB, the antecedents of European monetary authority, the different national perspectives on...

David Howarth and Peter Loedel provide a theoretically inspired account of the creation, design and operation of the European Central Bank. Issues explored include the theoretical approaches to the ECB, the antecedents of European monetary authority, the different national perspectives on...

This volume presents a critical examination of the EMU from different perspectives. It includes essays on the political economy of currency unions, on the Growth and Stability pact, the European Central Bank, an evaluation of the first four years of the EMU, and the costs and benefits for Sweden...