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Guide to the Euro

Guide to the Euro - 02 edition

Guide to the Euro - 02 edition

ISBN13: 9780618215478

ISBN10: 0618215476

Guide to the Euro by Jay H. Levin - ISBN 9780618215478
Edition: 02
Copyright: 2002
Publisher: Houghton Mifflin Harcourt
International: No
Guide to the Euro by Jay H. Levin - ISBN 9780618215478

ISBN13: 9780618215478

ISBN10: 0618215476

Edition: 02

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New monetary arrangements in the twelve Eurozone countries have sparked numerous questions. Why did these countries eliminate their national currency and adopt the euro? Who controls monetary decisions in the euro area? What exactly is a euro, and how does one measure its value? What causes the exchange rate on the euro to fluctuate?

In this timely, concise, and comprehensive introduction to Europe's new currency, Jay Levin, Professor of Economics and Chair at Wayne State University, answers these questions by explaining both the historical and political background as well as the economic underpinnings of monetary integration.

Author Bio

Levin, Jay H. : Wayne State University

Jay H. Levin is Professor and Chair of the Economics Department at Wayne State University, where he teaches courses on International Monetary Economics, Money and Banking, International Finance, and Macroeconomic Theory. He received his Ph.D. from University of Michigan and has written extensively on exchange rates and international economics.

Table of Contents

Table of Contents

1. Introduction

The New Monetary Arrangements in Europe
The European Union
Four Key Governing Bodies in the European Union
Important Treaties and Amendments

2. The History of European Monetary Unification

The European Economic Community
The Werner Plan
The Snake
The European Monetary System
The Maastricht Treaty and the European Union
The Launch of the Euro

3. The Euro and the European Central Bank

What Exactly Is the Euro?
What Is the Value of the Euro?
The European Central Bank
The Eurogroup
Wim Duisenberg

4. The Economic Benefits and Costs of the Euro

The Economic Benefits and Costs of Joining the Eurozone
What Is an Optimum Currency Area?
Is the Eurozone an Optimum Currency Area?
The Stability and Growth Pact

5. Special Problems of the Euro Area

"One Size Fits All" Monetary Policy
Bank Supervision
Voting on the European Central Bank's Governing Council
Labor Market Reforms
The Depreciation of the Euro
Will Other Countries in the European Union Join the Eurozone?
Will Other Countries Join the European Union?
The Euro as an International Currency
Could the Eurozone Collapse?

6. Concluding Remarks