small countries in non-optimum currency area only moral 在非最优货币区的小国家的道德

small countries in non-optimum currency area only moral 在非最优货币区的小国家的道德

ID:9293702

大小:346.50 KB

页数:36页

时间:2018-04-26

small countries in non-optimum currency area only moral 在非最优货币区的小国家的道德_第1页
small countries in non-optimum currency area only moral 在非最优货币区的小国家的道德_第2页
small countries in non-optimum currency area only moral 在非最优货币区的小国家的道德_第3页
small countries in non-optimum currency area only moral 在非最优货币区的小国家的道德_第4页
small countries in non-optimum currency area only moral 在非最优货币区的小国家的道德_第5页
资源描述:

《small countries in non-optimum currency area only moral 在非最优货币区的小国家的道德》由会员上传分享,免费在线阅读,更多相关内容在教育资源-天天文库

1、Thesistitle:“Smallcountriesinnonoptimumcurrencyarea:onlymoralhazard?TheGreekcase”.ERASMUSUNIVERSITYROTTERDAMErasmusSchoolofEconomicsDepartmentofEconomicsSupervisor:ProfessorBenoitS.J.CrutzenName:MarcodellaGiacomaExamNumber:E-mailaddress:djmarco87@hotmail.com36SmallCountriesInNonO

2、ptimumCurrencyArea:OnlyMoralhazard?TheGreekCase.MarcodellaGiacomaErasmusUniversityRotterdamSeptember2010TheGreekcrisisisastoryofnowadays.OfficiallystartedinDecember2009,whenthemainratingagenciesdowngradedtheGreekdebtasjunk-bond,itactuallywasnotsuchasurprisebecausetherealsituation

3、ofGreekpublicfinanceshadbeenknownsincealongtime,evenbeforetheaccessionintoEurozone.MostoftheobserversarenowtemptedtoclassifyGreekbehaviourascharacterizedbymoralhazard,arguingthataweakandhighlyindebtedeconomyastheGreekonewouldhavehadevenmoreincentivestokeeponrunningexpansionaryfis

4、calpolicy,onceadoptedthecommoncurrency,relyingontheimprovedfinancialstabilitythankstoEuroandimplicitlyonsomebailoutasalastresort,iftheworsthadcome.Itisdefinitelyhardtodisagreewiththesupportersofmoralhazardasoneofthemainreasonsofthiscrisis,butanotherfundamentalquestionisabouthowth

5、eotherEuropeancountriescouldhaveclosedtheireyesfromthebeginninginfrontofsuchscenario.SupposingthatGreecehasengagedinmoralhazardbehaviour,thispaperaimstoshedlightonthefollowingpoints:-WhatoftheactualsituationisduetoimperfectionsofthewholeEuropeanMonetaryUnionasithasbeenoriginallyd

6、evised?-WhatisduetoGreekmoralhazard?-HowdoesthefactthatGreeceisasmall,peripheraleconomymatter?-WhatcantheEuropeanmonetaryauthoritiesdoinordertopreventfuturesimilarsituations?36ReviewofRelevantLiteratureThespecifictopicofthebehaviourofasmalleconomyinamonetaryunionenvironmenthasnot

7、beenmuchexploredanddevelopedevenbecausetheonlyfeasibleobjectofanalysiswouldbethestillyoungEuropeanUnion.Howevertherelevantliteratureusefulforabetterunderstandingofthispapercanbedividedaccordingtothesub-topiccovered,andthemainfieldsofanalysisare:thecritiquesoftheStabilityandGrowth

8、Pactandthepurposesofreform,thehistorical

当前文档最多预览五页,下载文档查看全文

此文档下载收益归作者所有

当前文档最多预览五页,下载文档查看全文
温馨提示:
1. 部分包含数学公式或PPT动画的文件,查看预览时可能会显示错乱或异常,文件下载后无此问题,请放心下载。
2. 本文档由用户上传,版权归属用户,天天文库负责整理代发布。如果您对本文档版权有争议请及时联系客服。
3. 下载前请仔细阅读文档内容,确认文档内容符合您的需求后进行下载,若出现内容与标题不符可向本站投诉处理。
4. 下载文档时可能由于网络波动等原因无法下载或下载错误,付费完成后未能成功下载的用户请联系客服处理。