Tytuł pozycji:
Strefa euro: scenariusz alternatywny
- Tytuł:
-
Strefa euro: scenariusz alternatywny
Euro zone: The alternative scenario
- Autorzy:
-
Sławiński, Andrzej
- Powiązania:
-
https://bibliotekanauki.pl/articles/907369.pdf
- Data publikacji:
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2012
- Wydawca:
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Uniwersytet Łódzki. Wydawnictwo Uniwersytetu Łódzkiego
- Źródło:
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Acta Universitatis Lodziensis. Folia Oeconomica; 2012, 273
0208-6018
2353-7663
- Język:
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polski
- Prawa:
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Wszystkie prawa zastrzeżone. Swoboda użytkownika ograniczona do ustawowego zakresu dozwolonego użytku
- Dostawca treści:
-
Biblioteka Nauki
-
Przejdź do źródła  Link otwiera się w nowym oknie
The process of European monetary integration would have been longer but much less costly,
had euro zone been created at least a decade later. Had Europeans decided to extend the period of
functioning of the ERM mechanism with the 15% band (introduced in 1993), central banks might
have been able to use the extended autonomy of monetary policy to cope with the unsustainable
lending booms before the creation of the monetary union. This might have saved Europe from
paying a very high cost of the twin bank and fiscal crises. Had the tightening of monetary policy
turned out to be insufficient to cope with the unsustainable lending booms in several European
countries, central banks could have earlier employed macroprudential policies as a second weapon
of their stabilization policy. Had the euro zone been created at least a decade later, the experiences
with the unsustainable lending booms would have forced Europeans to create monetary union with
a better institutional setup.