This book explores the new macroeconomics of the European Monetary Union. It carefully discusses the effects of shocks and policy measures on employment, prices, and the current account. Take for instance a shock or a policy measure in a specific union country. Then what will be the results in...

This book studies the coexistence of inflation and unemployment in a monetary union. The focus is on how to reduce the associated loss. The primary target of the European central bank is low inflation in Europe. The primary target of the German government is low unemployment in Germany. And the...

Studies the interactions between monetary and wage policies in the euro area. This book discusses the process of policy competition and the structure of policy cooperation. It also features numerical simulations of policy competition and numerical solutions to policy cooperation

This is what we've all been waiting for - a book that demystifies the European community's monetary union. Unlike other books, this one provides readers with a practical yet sophisticated grasp of the macroeconomic principles necessary to understand a monetary union. The most important case in...