Euroland and the World Economy: Global Player or Global Drag?

Front Matter....Pages i-xiii
Introduction: Euroland and the World Economy — Global Player or Global Drag?....Pages 1-11
Front Matter....Pages 13-13
Global Imbalances, Bretton Woods II, and Euroland’s Role in All This....Pages 15-42
Wage Divergences in Euroland: Explosive in the Making....Pages 43-52
Can the Euro Area Play a Stabilizing Role in Balancing Global Imbalances?....Pages 53-71
Front Matter....Pages 73-73
Whatever Happened to ‘Policy Coordination’?....Pages 75-90
The Economic Rationale of the EMU and the Euro....Pages 91-103
Righting Global Imbalances: Recession, Protection or Reflation?....Pages 104-131
Front Matter....Pages 133-133
Replacing the Stability and Growth Pact?....Pages 135-153
Fiscal Policy and Macroeconomic Performance in the Euro Area: Lessons for the Future....Pages 154-183
Germany’s Choice and Lessons from Japan: Supply vs. Demand Policy, Fiscal vs. Monetary Policy....Pages 184-214
You Can’t Always Get What You Want: Why Europe is Not Keynesian-able While the US New Economy is Driven by Financial Keynesianism....Pages 215-232
Front Matter....Pages 233-233
‘Not my fault’ or Would Spreading the Maastricht Wisdom beyond Europe Really Do Much Good at All?....Pages 235-265
The Role of the Euro in the International Monetary Arena: Present and Prospects....Pages 266-287
International Payments Imbalances and the Prospective Role of the Euro....Pages 288-303
Back Matter....Pages 304-311