Jakob de Haan - Böcker

At the launch of the Euro, predictions about what has been dubbed "Euroland" were mixed. Supporters say the unprecedented switch to a single currency will benefit business and consumers alike. But critics warn that EMU is a giant leap into the unknown. The purpose of this book is to bring together the available evidence to date about EMU, focusing on European monetary and fiscal policy. Sylvester Eijffinger and Jakob de Haan have produced a fresh and forward-looking account of the issues surrounding monetary integration. Their analysis includes the functions and goals of the European Central Bank, the Treaty on European Union, the Stability and Growth Pact, and the harmonization of taxes. They go on to discuss the targets and instruments of European monetary policy, the relationships between the 'ins' and 'outs' within Europe, the integration of European financial markets, and the competition between financial institutions in Europe. Finally, the international role of the Euro and future of international policy co-ordination are investigated. The text has been presented for maximum clarity: each chapter concludes with a summary of the main issues, and case material and key topics are highlighted in boxes in order to help students focus on essential information. This thorough, innovative, and well-researched analysis has been carefully tailored to meet the course needs of undergraduate students of economic integration, European economics, international economics, and European studies.

After fifty years the Deutsche Bundesbank - the central bank that dominated European monetary affairs - has stepped down to entrust monetary policy to the European Central Bank (ECB). This is the first research work to thoroughly explore the lessons to be learned from the Bundesbank by the ECB, in areas such as price stability and political interference.

This Handbook provides a comprehensive analysis of the past, present, and future of the European Economic and Monetary Union in its broader context. It incorporates economic, legal and political science perspectives to provide an in-depth and forward-looking scrutiny of the rationales, the main features and the shortcomings of the economic, monetary and financial integration in the euro area. Studying its complex, highly interconnected governance structures, the authors suggest directions for necessary reforms. With contributions from a diverse group of leading experts in their fields, this volume is truly versatile in its scope and approach, whilst remaining accessible for readers of different academic backgrounds.

Written for undergraduate and graduate students of finance, economics and business, the fourth edition of Financial Markets and Institutions provides a fresh analysis of the European financial system. Combining theory, data and policy, this successful textbook examines and explains financial markets, financial infrastructures, financial institutions, and the challenges of financial supervision and competition policy. The fourth edition features not only greater discussion of the financial and euro crises and post-crisis reforms, but also new market developments like FinTech, blockchain, cryptocurrencies and shadow banking. On the policy side, new material covers unconventional monetary policies, the Banking Union, the Capital Markets Union, Brexit, the Basel III capital adequacy framework for banking supervision and macroprudential policies. The new edition also features wider international coverage, with greater emphasis on comparisons with countries outside the European Union, including the United States, China and Japan.

Written for undergraduate and graduate students of finance, economics and business, the fourth edition of Financial Markets and Institutions provides a fresh analysis of the European financial system. Combining theory, data and policy, this successful textbook examines and explains financial markets, financial infrastructures, financial institutions, and the challenges of financial supervision and competition policy. The fourth edition features not only greater discussion of the financial and euro crises and post-crisis reforms, but also new market developments like FinTech, blockchain, cryptocurrencies and shadow banking. On the policy side, new material covers unconventional monetary policies, the Banking Union, the Capital Markets Union, Brexit, the Basel III capital adequacy framework for banking supervision and macroprudential policies. The new edition also features wider international coverage, with greater emphasis on comparisons with countries outside the European Union, including the United States, China and Japan.

After fifty years the Deutsche Bundesbank - the central bank that dominated European monetary affairs - has stepped down to entrust monetary policy to the European Central Bank (ECB). This is the first research work to thoroughly explore the lessons to be learned from the Bundesbank by the ECB, in areas such as price stability and political interference.

This essential research review carefully analyses some of the most influential papers focusing on the relationship between economic and political institutions and economic development. Economic institutions shape economic incentives, such the incentives to become educated, to save and invest, to innovate and to adopt new technologies. Although economic institutions are critical for determining whether a country is poor or prosperous, it is politics and political institutions that determine which economic institutions are present in a country. This review explores these critical relationships and the causes of economic growth, whilst bringing forth the legal, colonial and financial factors, which contribute to economic discrepancies across countries. The text will be a valuable tool for economic researchers and scholars interested in this important subject.

Elgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences, business and law, expertly written by the world’s leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas.Written by two expert economists, this comprehensive Advanced Introduction provides a thorough and up-to-date analysis of central banks and monetary policy, analysing the ways in which views about monetary policy have developed and changed.Key Features:Provides a historical overview of the gestation of the Bank of England, the Federal Reserve, and the European Central BankAnalyses the processes involved in monetary policymaking, including strategy reviews, policy instruments, and central bank communication, whilst considering financial stability and crisis managementConcludes with a look towards the future challenges faced by central banks, including the low interest rate environment and the greening of central bank policiesAccessible and informative, this Advanced Introduction will prove a vital resource to students and scholars of economics and finance. It will also prove invaluable to practitioners and policymakers interested in financial sector supervision and regulation in central banks.

Elgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences, business and law, expertly written by the world’s leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas.Written by two expert economists, this comprehensive Advanced Introduction provides a thorough and up-to-date analysis of central banks and monetary policy, analysing the ways in which views about monetary policy have developed and changed.Key Features:Provides a historical overview of the gestation of the Bank of England, the Federal Reserve, and the European Central BankAnalyses the processes involved in monetary policymaking, including strategy reviews, policy instruments, and central bank communication, whilst considering financial stability and crisis managementConcludes with a look towards the future challenges faced by central banks, including the low interest rate environment and the greening of central bank policiesAccessible and informative, this Advanced Introduction will prove a vital resource to students and scholars of economics and finance. It will also prove invaluable to practitioners and policymakers interested in financial sector supervision and regulation in central banks.

This book presents a selection of contributions on the timely topic of structural reforms in Western economies, written by experts from central banks, the International Monetary Fund, and leading universities.

This book presents a selection of contributions on the timely topic of structural reforms in Western economies, written by experts from central banks, the International Monetary Fund, and leading universities. It includes latest research on the impacts of structural reforms on the market economy, especially on the labor market, and investigates the results of collective bargaining in theory and practice. The book also comprises case studies of structural reforms. A literature survey on the topic serves as a valuable source for further research. The book is written by and targeted at both academics and policy makers.

Coming at a critical juncture for the euro, the book takes stock of the ECB's experience during its first ten years and discusses the way ahead.

The financial crisis prompted financial supervisors to take a critical look at their own performance. The "toolkit" available to supervisors is considerably more varied than it was a few years ago.  Supervision has become more forward-looking, taking into account also soft controls, such as ‘conduct and culture’, corporate governance, and business models of financial institutions. This collection of essays discusses several significant changes in supervision methods and supervisory organisations and examines what methods contribute to ‘good supervision’ and what can reasonably be expected of supervisors. The authors are experts in the field and most of them are affiliated to organisations responsible for financial supervision.

Coming at a critical juncture for the euro, the book takes stock of the ECB's experience during its first ten years and discusses the way ahead.