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The Euro area and the financial crisis / edited by Miroslav Beblavý, David Cobham and L̕udovít Ódor.

Contributor(s): Material type: TextTextPublisher: Cambridge : Cambridge University Press, 2011Description: 1 online resource (xix, 351 pages) : digital, PDF file(s)Content type:
  • text
Media type:
  • computer
Carrier type:
  • online resource
ISBN:
  • 9781139044554 (ebook)
Other title:
  • The Euro Area & the Financial Crisis
Subject(s): Additional physical formats: Print version: : No titleDDC classification:
  • 330.94/05611 23
LOC classification:
  • HG925 .E8677 2011
Online resources:
Contents:
Introduction / Miroslav Beblavý, David Cobham and L̕udovít Ódor -- Towards a new architecture for financial stability in Europe / Athanasios Orphanides -- Weathering the financial storm: the importance of fundamentals and flexibility / Thorvardur Tjörvi Ólafsson and Thórarinn G. Pétursson -- The Irish crisis / Philip R. Lane -- The crisis in Spain: origins and developments / Angel Gavilán, Pablo Hernández de Cos, Juan F. Jimeno and Juan A. Rojas -- The financial crisis and the Baltic countries / Aurelijus Dabušinskas and Martti Randveer -- The road to euro adoption: a comparison of Slovakia and Slovenia / Biswajit Banerjee, Damjan Kozamernik and L̕udovít Ódor -- Is the euro really a 'teuro'? The effects of introducing the euro on prices of everyday non-tradables in Slovakia Miroslav Beblavý -- The euro's contribution to economic stability in Central, Eastern and Southeastern Europe: is euro adoption still attractive? / Ewald Nowotny -- Is the euro still attractive for CEE countries? / Zdeněk Tůma and David Vávra -- Why the current account may matter in a monetary union: lessons from the financial crisis in the euro area / Francesco Giavazzi and Luigi Spaventa -- National fiscal rules within the EU framework / Daniele Franco and Stefania Zotteri -- The road to better resolution: from bail-out to bail-in / Thomas F. Huertas -- Financial stability and monetary policy: lessons from the euro area / Laurent Clerc and Benoît Mojon -- Is there a case for price-level targeting? / Boris Cournède and Diego Moccero -- Heterogeneity in the euro area and why it matters for the future of the currency union / Wendy Carlin -- The euro area: how to regain confidence / Vitor Gaspar -- How to regain confidence in the euro area / Stefan Gerlach -- How to save the euro: lessons from the US / Jacques Mélitz.
Summary: The financial crisis of 2007-10 has presented a number of key policy challenges for those concerned with the long-term stability of the euro area. It has shown that price stability as provided by the European Central Bank is not enough to guarantee financial stability, and exposed fault lines in governance and deficiencies in the architecture of the financial supervisory and regulatory framework. This book addresses these and other issues, including why the crisis affected some countries more than others, whether the euro is still attractive for new EU states, and what policy changes and structural reforms, both macro and micro, should be undertaken to ensure its future viability. Written by a team of leading academic and central bank economists, the book also includes chapters on the cross-country incidence of the crisis, the Irish crisis and ECB monetary policy during the crisis, and studies on Spain, the Baltics, Slovakia and Slovenia.
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Title from publisher's bibliographic system (viewed on 05 Oct 2015).

Introduction / Miroslav Beblavý, David Cobham and L̕udovít Ódor -- Towards a new architecture for financial stability in Europe / Athanasios Orphanides -- Weathering the financial storm: the importance of fundamentals and flexibility / Thorvardur Tjörvi Ólafsson and Thórarinn G. Pétursson -- The Irish crisis / Philip R. Lane -- The crisis in Spain: origins and developments / Angel Gavilán, Pablo Hernández de Cos, Juan F. Jimeno and Juan A. Rojas -- The financial crisis and the Baltic countries / Aurelijus Dabušinskas and Martti Randveer -- The road to euro adoption: a comparison of Slovakia and Slovenia / Biswajit Banerjee, Damjan Kozamernik and L̕udovít Ódor -- Is the euro really a 'teuro'? The effects of introducing the euro on prices of everyday non-tradables in Slovakia Miroslav Beblavý -- The euro's contribution to economic stability in Central, Eastern and Southeastern Europe: is euro adoption still attractive? / Ewald Nowotny -- Is the euro still attractive for CEE countries? / Zdeněk Tůma and David Vávra -- Why the current account may matter in a monetary union: lessons from the financial crisis in the euro area / Francesco Giavazzi and Luigi Spaventa -- National fiscal rules within the EU framework / Daniele Franco and Stefania Zotteri -- The road to better resolution: from bail-out to bail-in / Thomas F. Huertas -- Financial stability and monetary policy: lessons from the euro area / Laurent Clerc and Benoît Mojon -- Is there a case for price-level targeting? / Boris Cournède and Diego Moccero -- Heterogeneity in the euro area and why it matters for the future of the currency union / Wendy Carlin -- The euro area: how to regain confidence / Vitor Gaspar -- How to regain confidence in the euro area / Stefan Gerlach -- How to save the euro: lessons from the US / Jacques Mélitz.

The financial crisis of 2007-10 has presented a number of key policy challenges for those concerned with the long-term stability of the euro area. It has shown that price stability as provided by the European Central Bank is not enough to guarantee financial stability, and exposed fault lines in governance and deficiencies in the architecture of the financial supervisory and regulatory framework. This book addresses these and other issues, including why the crisis affected some countries more than others, whether the euro is still attractive for new EU states, and what policy changes and structural reforms, both macro and micro, should be undertaken to ensure its future viability. Written by a team of leading academic and central bank economists, the book also includes chapters on the cross-country incidence of the crisis, the Irish crisis and ECB monetary policy during the crisis, and studies on Spain, the Baltics, Slovakia and Slovenia.

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