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Macroeconomic Policies of the Economic and Monetary Union : Theoretical Underpinnings and Challenges

Arestis, Philip; Sawyer, Malcolm C. - 2003

full employment and low inflation in the euro area. We conclude that the institutional and policy arrangements surrounding … the EMU and the euro are neither adequate for dealing with today's problems of unemployment and inflation nor promising …

Persistent link: https://www.econbiz.de/10014075655

The Independent European Central Bank : Keynesian Alternatives

Arestis, Philip - 1999

In this paper, the author aims to question the assumptions underlying the economic case for the independent European Central Bank (ECB) and argues that although a European Clearing Agency (ECA) of the type Keynes envisaged for the international economy is not a panacea for the economic problems...

Persistent link: https://www.econbiz.de/10014186660

Asymmetries of demand for money functions amongst EMU countries

Arestis, Philip; Biefang-Frisancho Mariscal, Iris; … - In: Investigación económica : revista de la Faculdad de … 62 (2003) 245, pp. 15-32

Persistent link: https://www.econbiz.de/10001808247

Is there a trade-off between inflation variability and output-gap variability in the EMU countries?

Arestis, Philip (contributor); … - 2002

Persistent link: https://www.econbiz.de/10003207930

Is There a Trade-Off between Inflation Variability and Output-Gap Variability in the Emu Countries?

Arestis, Philip; Mouratidis, Konstantinos - 2004

This paper examines two issues. First, we compare, based on the ratio of output-gap variability to inflation … the introduction of an implicit inflation-targeting by the EMU member countries after the Maastricht Treaty changed the … trade-off between inflation variability and output-gap variability. We employ a stochastic volatility model for the whole …

Persistent link: https://www.econbiz.de/10014092357

Credibility of EMS Interest Rate Policies : A Markov Regine-Switching Approach

Arestis, Philip; Mouratidis, Konstantinos - 2003

-gap variability and the inflation variability variables are incorporated into the determination of the monetary policy preferences of … the stabilization of output-gap variability and inflation variability …

Persistent link: https://www.econbiz.de/10014092342

The future of the euro : is there an alternative to the stability and growth pact?

Arestis, Philip (contributor); MacCauley, Kevin (contributor) - 2001

This brief provides a detailed description of the Stability and Growth Pact, an agreement entered into by the member states of the European Union that has far-reaching implications for the long-run value of the euro, and therefore, on the real economy in terms of output growth and employment....