ASYMMETRY AND AGGREGATION IN THE EU by David G. Mayes, Matti Viren ( 9780230304642 )

Item Details

Title:

ASYMMETRY AND AGGREGATION IN THE EU

By:

Format:

Electronic book text

List price:	£78.00
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ISBN 10:

0230304648

ISBN 13:

9780230304642

Publisher:

PALGRAVE MACMILLAN

Description:

This book presents a clear exposition of what constitutes asymmetry in economics. It provides an empirical application of these ideas in the case of the EU. In particular, it shows how important asymmetry is for the appropriate design of policy in the Euro Area.

Synopsis:

This book provides a unique study of the differences in economic behaviour according to the phases of the economic cycle in the countries of the European Union. It presents a comprehensive analysis of asymmetry in the EU over the last forty years, and shows that the problems in the global financial crisis were readily predictable. The authors use empirical research and panel data to show how much economic behaviour changes between the up and down phases of the business cycle, and the difficulties this creates for monetary, fiscal and labour market policies. The volume demonstrates how prescient the asymmetric design of the Stability and Growth Pact was in trying to offset countries understandable optimism in fiscal policy, and the consequent tendency not to manage debt successfully. It also reveals the inherent problems for managing unemployment in an asymmetric labour market. This book is essential reading for all interested in European economics, macroeconomics and European integration.

Illustrations:

98, 43 black & white tables, 55 figures

Publication:

Imprint:

Palgrave Macmillan

Returns:

Non-returnable

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