New political economy of exchange rate policies and the enlargement of the Eurozone [electronic resource] / Christian H. Fahrholz.

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Bibliographic Details
Online Access: Full Text (via Springer)
Main Author: Fahrholz, Christian H.
Format: Thesis Electronic eBook
Language:English
Published: Heidelberg ; New York : Physica-Verlag, ©2007.
Series:Contributions to economics.
Subjects:

MARC

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100 1 |a Fahrholz, Christian H.  |0 http://id.loc.gov/authorities/names/n2007009794  |1 http://isni.org/isni/000000011611588X. 
245 1 0 |a New political economy of exchange rate policies and the enlargement of the Eurozone  |h [electronic resource] /  |c Christian H. Fahrholz. 
260 |a Heidelberg ;  |a New York :  |b Physica-Verlag,  |c ©2007. 
300 |a 1 online resource (x, 155 pages) :  |b illustrations. 
336 |a text  |b txt  |2 rdacontent. 
337 |a computer  |b c  |2 rdamedia. 
338 |a online resource  |b cr  |2 rdacarrier. 
490 1 |a Contributions to economics,  |x 1431-1933. 
502 |b doctoral  |c Freie Universität, Berlin  |d 2004. 
504 |a Includes bibliographical references (pages 143-155) 
505 0 |a Cover -- Contents -- 1 Introduction -- 2 Setting the Stage -- 2.1 Revisiting Political Economy -- 2.1.1 Decision-Making Processes in Societal Systems -- 2.1.2 Rational Choice in Economic Systems -- 2.1.3 Rational Choice in Political Systems -- 2.2 Refreshing the Analysis of European Integration -- 2.3 Strands of Research in Exchange-Rate Policy -- 2.4 In Lieu of Results -- 3 The Core, the Crux, and the Costs Involved -- 3.1 The Core -- 3.2 The Crux -- 3.3 The Costs -- 4 Exchange-Rate Policies in CEECs -- 4.1 Brief Synopsis of Exchange-Rate Policies in CEECs -- 4.2 Governance Aspects of ERM II -- 4.3 Political Economy of Exchange-Rate Policy -- 4.4 Results -- 5 Game-Theoretic Analysis -- 5.1 Two-Stage Bargaining with Brinkmanship -- 5.2 Alternative Bargaining Solutions -- 5.2.1 Nash-Bargaining Solution -- 5.2.2 Kalai-Smorodinsky Solution -- 5.2.3 Ståhl-Rubinstein Solution -- 5.3 Results -- 6 Empirical Analysis -- 6.1 Estimations of Cost Parameters -- 6.1.1 Costs of Default -- 6.1.2 Costs of Convergence -- 6.2 Estimations of EU-Aversion -- 6.3 Computing the Probability for a Frugal EU -- 6.4 Monte-Carlo Simulation of Threat Game Bounds -- 6.5 Syncretism of Empirical Analysis -- 7 Conclusions -- List of Figures -- List of Tables -- List of Symbols -- References -- Last Page. 
520 1 |a "This work examines the political economy of exchange-rate policies in the context of the eastward enlargement of the eurozone. The analysis shows that prospective members of the EMU are likely to pass on some of the incurred Maastricht costs of convergence to the current EMU-members. The transmission mechanism is an altered exchange-rate policy that is carried out utilizing a "threaten-thy-neighbour"--Strategy. The nature of the arising conflict between current and prospective EMU-members originates from both parties' admitted inclination to complete the enlargement process, complicated by their disinclination to bear the costs. The ensuing moral-hazard behaviour of the CEECs proves to be one of brinkmanship. The subsequent bargaining game results in a robust outcome most likely in terms of providing extra European funding. This may then ensure a stabilization of the CEECs' convergence toward the EMU, and a successful completion of eastward enlargement or the eurozone."--Jacket. 
588 0 |a Print version record. 
650 0 |a Foreign exchange rates  |x Government policy  |z Europe, Eastern. 
650 0 |a Foreign exchange rates  |x Government policy  |z European Union countries. 
650 0 |a Monetary policy  |z Europe. 
650 0 |a Economic stabilization  |z Europe. 
651 0 |a European Union countries  |x Economic integration.  |0 http://id.loc.gov/authorities/subjects/sh2008103273. 
650 7 |a Economic stabilization.  |2 fast  |0 (OCoLC)fst00902085. 
650 7 |a Foreign exchange rates  |x Government policy.  |2 fast  |0 (OCoLC)fst00931824. 
650 7 |a International economic integration.  |2 fast  |0 (OCoLC)fst00976879. 
650 7 |a Monetary policy.  |2 fast  |0 (OCoLC)fst01025230. 
651 7 |a Europe.  |2 fast  |0 (OCoLC)fst01245064. 
651 7 |a Europe, Eastern.  |2 fast  |0 (OCoLC)fst01245079. 
651 7 |a Europe  |z European Union countries.  |2 fast  |0 (OCoLC)fst01269470. 
776 0 8 |i Print version:  |a Fahrholz, Christian H.  |t New political economy of exchange rate policies and the enlargement of the Eurozone.  |d Heidelberg ; New York : Physica-Verlag, ©2007  |z 3790817619  |z 9783790817614  |w (DLC) 2006934205  |w (OCoLC)73108822. 
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