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Published: 31 May 2012

280 Pages


ISBN: 9780199605576

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This text is published by OUP Higher Education Division

Economics of Monetary Union

Ninth Edition

Paul De Grauwe

  • The only textbook that discusses both the costs and benefits of monetary unions and the actual workings of the most important monetary union in the world, the eurozone.
  • Provides a strong analytical framework, giving students a solid basis for examining monetary union.
  • The text is updated every two years to ensure that the content is up to date in such a fast moving market.

New to this Edition:

  • Fully updated and revised coverage of the financial crisis, including how this has affected the appeal of monetary union and forced institutional change within the Eurozone.
  • Increased focus on the government debt crisis and how this is linked to private debt accumulation in the Eurozone.
  • Increased discussion of the fragility of incomplete monetary unions.
  • Expanded coverage of various key issues including enlargement, institutional change within the ECB along with a discussion of the newly established Risk Board, and the new regulatory framework of financial institutions in the European Union.
  • Substantially updated chapter on 'Monetary Policy in Euroland' with increased discussion of the role of the ECB as a "Lender of Last Resort", the use of additional instruments to control bank credit in the Eurozone and the responsibility of the ECB in stabilizing the external value of the Euro.
  • Discussion of the new governance of the Eurozone that is needed to make the union sustainable in the long run.

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