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ID:34601216
大小:1.94 MB
页数:263页
时间:2019-03-08
《Joseph E. Stiglitz - The Euro_ How a Common Currency Threatens the Future of Europe (2016, W. W. Norton)》由会员上传分享,免费在线阅读,更多相关内容在学术论文-天天文库。
1、2TothefutureofEuropeandtheEuropeanprojectuponwhichsomuchdepends,inthehopethatthisbookmaycontributetopoliciesensuringitsprosperityandpromotingitssolidarity.3CONTENTSPrefacePARTI.EUROPEINCRISIS1.THEEUROCRISIS2.THEEURO:THEHOPEANDTHEREALITY3.EUROPE’SDISMALPERFORMANCEPARTII.FLAWEDFROMTHESTART4.WHENCANASI
2、NGLECURRENCYEVERWORK?5.THEEURO:ADIVERGENTSYSTEM6.MONETARYPOLICYANDTHEEUROPEANCENTRALBANKPARTIII.MISCONCEIVEDPOLICIES7.CRISESPOLICIES:HOWTROIKAPOLICIESCOMPOUNDEDTHEFLAWEDEUROZONESTRUCTURE,ENSURINGDEPRESSION8.STRUCTURALREFORMSTHATFURTHERCOMPOUNDEDFAILUREPARTIV.AWAYFORWARD?9.CREATINGAEUROZONETHATWORKS1
3、0.CANTHEREBEANAMICABLEDIVORCE?11.TOWARDAFLEXIBLEEURO12.THEWAYFORWARDNotesAcknowledgmentsIndex4PREFACETheworldhasbeenbombardedwithdepressingnewsfromEurope.Greeceisindepression,withhalfofitsyouthunemployed.TheextremerighthasmadelargegainsinFrance.InCatalonia,theregionsurroundingBarcelona,amajorityofth
4、oseelectedtotheregionalparliamentsupportindependencefromSpain.Asthisbookgoestopress,largepartsofEuropefacealostdecade,withGDPpercapitalowerthanitwasbeforetheglobalfinancialcrisis.EvenwhatEuropecelebratesasasuccesssignifiesafailure:Spain’sunemploymentratehasfallenfrom26percentin2013to20percentatthebe
5、ginningof2016.Butnearlyoneoutoftwoyouthremainunemployed,1andtheunemploymentratewouldbeevenhigherifsomanyofitsmosttalentedyoungpeoplehadnotleftthecountrytolookforjobselsewhere.Whathashappened?Withadvancesineconomicscience,aren’twesupposedtounderstandbetterhowtomanagetheeconomy?Indeed,NobelPrize–winni
6、ngeconomistRobertLucasdeclaredinhis2003presidentialaddresstotheAmericanEconomicAssociationthatthe“centralproblemofdepressionpreventionhasbeensolved.”2Andwithalltheimprovementsinmarkets,shouldn’titbeeveneasiertomanagetheeconomy?Themarkofawell-functioningeconomyisrapidgrowth,thebenefitsofwhichareshare
7、dwidely,withlowunemployment.WhathashappenedinEuropeistheopposite.Thereisasimpleanswertothisapparentpuzzle:afataldecision,in1992,toadoptasinglecurrency,withoutprovidingfortheinstitutionsthatwouldmakeit
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