Theoretical and Applied Economics
No. 6 / 2006 (501)
Adjusting Shocks Management in Euro Zone. The Asymmetrical Impact of the ECB Monetary Policy
Academia de Studii Economice Bucuresti
Abstract. The loss of the sovereign interest rate and exchange rate instruments is the main potential cost of joining a monetary union since it becomes more difficult to adjust swiftly to shocks. In the case of demand shocks that affect all countries more or less equally (symmetric shocks), the loss of monetary autonomy implied by EMU is in principle of less concern, because the area-wide policy would tend to deliver monetary conditions that are appropriate for each country. However, this may not always be the case if the transmission mechanism operates significantly differently in the euro area, because then a uniform policy response would not yield uniform effects. In the case of supply shocks – whether country specificor- area-wide – lasting changes in relative prices and production patterns are needed.
Contents
Synthetic Analysis about Single-Criterion and Multi-Criterion Financial Assets Portfolio
About Knowledge Society Pillars in Romania
Adjusting Shocks Management in Euro Zone. The Asymmetrical Impact of the ECB Monetary Policy
Banking Activity for Sustainable Development
Engineering and Re-engineering Model of the Proceses for Implementing Quality Management System in Small and Medium Enterprises
Economics of Corruption. The Equilibrium, Political and Social Determinations
Structural Changes of International Trade Flows under the Impact of Globalization
Controversies Regarding Goodwill Evaluation, Depreciation and Recording Policies
TRIPs Agreement, Important Multilateral WTO Treaty
Cultural Impacts in Managerial Accounting
Some Aspects Regarding Banking Risk Management
History Economic Lessons. Rising and Collapse of Nicolas Fouquet
Human Development – Qualitative Dimensions of a Globalized World
Trends in Banking System Globalization
Migration Process Evolution in Europe