In this book, first-class economists with rich experience in economic and financial policy-making address a broad range of difficult policy issues. They examine the roles of surveillance by international institutions as well as micro- and macro-prudential policies, their mixes and their coordination with monetary policies for achieving financial stability while promoting better macroeconomic performance. Based on this analysis, the book also examines economic as well as political forces at work in order to understand the dynamics of the Euro-area crisis that erupted only a few years after the outbreak of the global financial and economic crisis. It reveals that the crisis was actually balance-of-payments induced, deriving from single-currency tensions as well as excessive sovereign debt. It emphases that the sustainability of the Euro area crucially depends on structural reform in both surplus and deficit countries within the area to promote convergence of economic performance.
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Kumiharu Shigehara-The Limits of Surveillance and Financial Market Failure_ Less.pdf
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Hardcover: 248 pages
Publisher: Palgrave Macmillan (December 10, 2014)
Language: English
ISBN-10: 1137471468
ISBN-13: 978-1137471468
Product Dimensions: 5.5 x 0.6 x 8.5 inches
Shipping Weight: 15.2 ounces


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