This paper presents the novel results from an internationally coordinated project by the International Banking Research Network (IBRN) on the cross-border transmission of conventional and unconventional monetary policy through banks. Teams from seventeen countries use confidential micro-banking...

There have been important advances in monetary economics and macroeconomics recently. In macroeconomics there has been the paramount development of the New Consensus Macroeconomics along with significant policy implications, thereby giving rise to the notion of New Monetary Policy. This book...

This book deals with the key aspects of developments in monetary economics and macroeconomics, such as the New Consensus Macroeconomics, and further ones such as money, credit and the business cycle. Adding to the analysis are developments that focus on issues for open and spatial macroeconomics

The euro was adopted as legal tender, albeit in a virtual form, by 11 countries of the European Union on January 1, 1999, with the intention that notes and coins denominated in euros would be introduced and the national currencies would be phased out during the first six months of that year and...

This paper proposes an alternative stability and growth pact among European Union (EU) governments that would underpin the introduction of a single currency and a "single market" within the EU. The alternative pact embraces a number of new aspects of integration within the EU that are based on a...

This paper proposes an alternative stability and growth pact to the one which accompanied the introduction of the euro in January 1999. The latter is part of the third stage of economic and monetary union and, will govern the economic policies of the member countries which have joined the single...