Centre for Economic Policy Research (Great Britain)'s Books

This volume presents some of the best current research on international economic policy coordination.

Preliminary versions of many of these papers were presented at the CEPR conference "European migration: what do we know?" held in Munich on November 14-15th 1997"--Acknowledgements.

A central tenet of the Maastricht Treaty is that a successful European Monetary Union requires sustainable public finances of its member states, yet there is no clear definition of sustainability. This book develops a concept of sustainability focusing on the controllability of public finances. After reviewing the theoretical and empirical arguments for a disaggregate and institutions-oriented approach to correcting non-sustainable deficits, the authors propose a practical procedure to assess the sustainability of a country's public finances.

The enlargement that encompassed the accession of Greece in 1981 and of Spain and Portugal in 1986 significantly altered the balance of the European Community (EC), while the double shock of EC membership and 1992 could have driven the economies of the new members into depression or, equally, accelerate their modernisation. This important 1990 book from the Centre for Economic Policy Research examines theoretical issues in the integration of a diverse economic region and the combined impact of EC membership, financial integration and the single market programme on the joining countries. There is an introduction by the editors and a foreword by Michael Emerson and Richard Portes.

This report argues that until detailed arguments for and against centralization through the European Union, there remains an incomplete guide to the principle decision of where power should reside.

This report of an independent panel, chaired by Rupert Pennant-Rea, considers the policy implications for the UK of different strategies on membership of EMU: I) aiming to join in the first wave; ii) aiming to join later; iii) waiting to see how EMU works out; and iv) deciding in principle, not to join.

The second in CEPR's annual Monitoring European Deregulation (MED) series, this report explores the economic and regulatory aspects of a single European market for electricity and provides a basis for policy choices both at national and EU levels. The report combines analyses of key issues in electricity market integration and liberalization with evaluations of practical experiences in selected European countries: France, Germany, Norway, Spain, Sweden, and the UK. Key issues include: to what extent competition in national electricity markets is a necessary requirement for the integration of these markets, and the design of national electricity markets in which competition in generation and supply is allowed. Lars Bergman is at the Stockholm School of Economics; Gert Brunekreeft is at Institut fuer Verkehrswissenschaft, University of Freiburg; Chris Doyle is at the London Business School; David M G Newbery and Michael Pollitt are at Cambridge University; Pierre Regibeau is at Institut d'Analisi Economica CSIC, Bellaterra; and Nils von der Fehr is at Nuffield College, Oxford.

Asset price volatility on world financial markets and foreign exchange markets has increased significantly since the Mexican peso crisis of December 1994. The Asian financial crisis, still underway, will leave significant costs in its wake. The notion that emerging markets can sort out their own problems if left to their own devices is no longer plausible, and policymakers cannot afford to adopt a laissez-faire attitude to this issue. The traditional IMF response of containment is a debatable solution. This report addresses these issues with emphasis on the important lessons that can be learned from the recent events in Asia.

Book's by Centre for Economic Policy Research (Great Britain)

International Economic Policy Coordination

International Economic Policy Coordination

European Migration

European Migration

Sustainability of Public Finances

Sustainability of Public Finances

Unity with Diversity in the European Economy

Unity with Diversity in the European Economy

Making Sense of Subsidiarity

Making Sense of Subsidiarity

The Ostrich and the EMU

The Ostrich and the EMU

A European Market for Electricity?

A European Market for Electricity?

Financial Crises and Asia

Financial Crises and Asia

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