Crisis Cycle | Challenges, Evolution, and Future of the Euro
Langue : anglais
Edité par Princeton Univers. Press, 2025
- Livre relié
- Neuf

Vendeur : preigu, Osnabrück, Allemagnepreigu
Vendeur AbeBooks depuis 5 août 2024
Etat: Neuf
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N° de réf. du vendeur 133185662
- Titre
- Crisis Cycle | Challenges, Evolution, and Future of the Euro
- Auteur
- John H. Cochrane (u. a.)
- Éditeur
- Princeton Univers. Press
- Année de publication
- 2025
- État de l'article
- Neu
- Reliure
- Buch
- Langue
- anglais
- ISBN à 10 chiffres
- 0691271607
- ISBN à 13 chiffres
- 9780691271606
- Poids de l'article
- 696 grammes
- Dimensions
- 235 x 162 x 29 mm
- Catalogues du vendeur
- Bücher
How the euro survived a series of crises, and how to make it more resilient
The euro has survived crises unimagined at its founding: the financial meltdown of 2007-2009, the sovereign debt crisis of 2010-2012, the pandemic, and the Russian invasion of Ukraine. The European Central Bank fought these crises with dramatic policy innovations, buying up vast amounts of debt and providing large loans to banks. But now everyone expects the ECB to intervene routinely, and the euro is more fragile as a result. Crisis Cycle recounts this history and offers recommendations for restoring a durable monetary union.
Monetary and fiscal policy are intertwined, especially in a currency union like the eurozone. Member states can be tempted to borrow and spend too much, and then count on the ECB to rescue them by printing money to buy their bonds. To avoid these disincentives, the ECB was founded with a narrow mandate: use interest rates to pursue price stability, and don't buy sovereign debt. Debt and deficit rules would keep countries from getting into trouble.
The ECB's emergency innovations brought back these disincentives. How can the EU avoid larger and larger bailouts? The authors argue that Europe needs a joint fiscal institution that can provide temporary help to sovereigns, a resolution mechanism so sovereign default is a motivating possibility, and bank reform that ensures sovereign default will not bring down the financial system. This timely book shows how to restore the euro's ambitious and effective founding framework. The unique group of authors combine extensive policy experience and authoritative academic credentials.
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preigu
Osnabrück, Allemagne
Vendeur AbeBooks depuis 5 août 2024
Frais d'expédition de Allemagne vers Etats-Unis
| Article | 60 à 60 jours ouvrés | 60 à 60 jours ouvrés |
|---|---|---|
| Premier article | EUR 70,00 | EUR 70,00 |
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