The European Single Market

THE EUROPEAN SINGLE MARKET This volume comprises a collection of papers, some of which were presented at different workshops organized by the European Economics and Financial Centre (London), in conjunction with various European central banks. In addition the book contains, in Chapter 2, the text of a memorial lecture on Trade and Financial Relationships of the US and Europe given by this author in New York. The lecture, known as the Henry George Lecture, was given at St John's University in New York in April 1993. The workshops were part of a series of workshops, the first of which was hosted by the Central Bank of Finland. At these workshops usually some 20 central banks from Europe, the Federal Reserve Board and various other central banks were present. Furthermore the workshops contain papers from international organizations such as the OECD, European Commission, Bank for International Settlement, government ministries, commercial banks, re search institutes and academics from Europe and elsewhere. The two workshops from which some of these papers were drawn were those held at the Central Bank of the Netherlands and the Central Bank of Austria. The workshop held at the Central Bank of the Netherlands (De Nederlandsche Bank), was on Policy Coordination, and took place during 2-4 November, 1992. The one held at the Central Bank of Austria (6stereichische Bank), was on Policy Formulation in Interdependent Market, and took place during 24-26 March 1993.

Klappentext

This is a collection of contributions from European central bankers concerned with different national monetary and fiscal policies in public sector management. Some of the chapters concentrate on individual national policies and then deal with issues raised by the convergence, which is part of EC harmonization.

Inhalt
1 Concerns and uncertainties for macroeconomic policy.- 2 Trade and financial relationships between the US and Europe.- 3 What might explain the September 1992 speculative attacks on the French franc?.- 4 Interest rate determination across the maturity spectrum in a small open economy: the case of Switzerland.- 5 Credibility and exchange rate policies: the Belgian experience.- 6 EMU The issues for banks.- 7 Monetary and fiscal policy in a monetary union.- 8 Growth and specialization in an enlarged Europe: is a virtuous circle possible?.- 9 Exchange rate regime and central bank independence in a small volatile economy: the case of Iceland.- 10 The twin-debt problem in an interdependent world.- 11 Implied versus historical volatility: an empirical test of the efficiency of the currency options market.- 12 The past as prologue: a retrospective on the EC negotiations.