Welcome to our book review site go-pdf.online!
You may have to Search all our reviewed books and magazines, click the sign up button below to create a free account.
Capital Markets Union and Beyond
Experts from economics, finance, law, policy, and banking discuss the design and implementation of a future capital market union in Europe. The plan for further development of Europe's economic and monetary union foresees the creation of a capital market union (CMU)—a single market for capital in the entire Eurozone. The need for citizens and firms of all European countries to have access to funding, together with the pressure to improve the efficiency and risk-sharing opportunities of the financial system in general, put the CMU among the top priorities on the Eurozone's agenda. In this volume, leading academics in economics, finance, and law, along with policy makers and practitioners, d...
Open Issues in European Central Banking
With the start of EMU, the Eurosystem has taken over monetary policy for the 11 countries of the Euro-area. But the division of powers within the Eurosystem, between the European Central Bank and the constituent National Central Banks, is not satisfactory. This volume provides an analysis of the strengths and weaknesses of the Eurosystem and offers concrete proposals concerning the decision-making organs, balance sheets and the distribution of seigniorage.
Austerity
The crisis in the eurozone has had a dramatic impact on the economic and social fabric of European countries. However, the economic dimension is only the symptom of a broader problem. The crisis is primarily political in nature. Lorenzo Bini Smaghi argues in this book that the crisis reflects the inability of western democracies to solve problems that have been building for over two decades. He finds that democratically elected officials are loathe to take unpopular decisions that could jeopardize their reelection. Emergency thus becomes the engine of political action, and the justification for corrective measures vis-a-vis the voters. As a consequence, the cure in the form of austerity, administered belatedly under pressure from the markets, becomes even more painful and unpopular, giving rise to populist movements and endangering democracy itself."
How Can the ECB be Credible?
Recoge: 1. The independence of the ECB -- 2. The external environment -- 3. The operational framework of the ESCB.
Supervision and Central Banking
In the last few years, the relationship between supervision and central banking has evolved. Following the example of the UK, supervisory responsibilities have been allocated in some countries to independent authorities, separate from the central bank. In other countries, such as the Netherlands, prudential supervision of all financial institutions has been fully integrated in the central bank. I do not want to repeat here all the arguments for or against the separation of supervision from central banking (they have been thoughtfully analysed by Charles Goodhart and Donato Masciandaro, among others). But I do recall that the ECB took a position in 2001 on the fundamental role of central bank...
