Suchergebnisse

"Preface" -- "Some Theoretical Foundations and Empirical Evidence Over the Past Fifty Years" -- "Introduction" -- "Theoretical and Empirical Achievements and Final Considerations" -- "Contents" -- "List of Figures" -- "List of Tables" -- "Part I: Some Theoretical Foundations: Why European Treaties Are Theoretically Wrong" -- "Introduction" -- "1: Government Expenditure, Inflation and Growth: The Base Model" -- "1.1 The Two-Sector Production Model and the Effects of Government Expenditure" -- "1.2 The Assets Market" -- "1.3 The Consumption Goods Market" -- "1.3.1 Effects of a Balanced Budget Increase on Government Expenditure" -- "1.3.2 Effects of an Increase of Government Capital Stock" -- "1.4 The Complete Model-Statics" -- "1.4.1 Balanced Budget Policy" -- "1.4.2 International Inflows of Capital Increasing the Stock of Capital" -- "1.4.3 Effects of an Increase in the Share of Government Capital" -- "1.4.4 The Role of the Composition of Government Expenditure Between Consumption and Investments" -- "1.5 The Complete Model-Dynamics" -- "1.6 Stock and/or Flow Equilibrium Conditions" -- "2: Economic Policy, Government Investment Programmes, Inflation and Growth" -- "2.1 Monetary Policy" -- "2.1.1 Static Analysis" -- "2.1.1.1 Effects of an Increase in the Total Stock of Capital Through International Inflows" -- "2.1.1.2 Effects of an Increase of the Share of Government Capital Stock" -- "2.1.1.3 An Increase in the Government Propensity to Consume" -- "2.1.2 Dynamic Analysis" -- "2.1.2.1 Effects of a Change in Government Expenditure Structure: An Increase in the Government Propensity to Consume" -- "2.1.2.2 Effects of an Increase in the Share of Government Capital Stock" -- "2.2 The Control of the Price Level Through Fiscal Policy" -- "2.2.1 Static Analysis" -- "2.2.1.1 Effects of an Increase in the Government Propensity to Consume

This book examines the Eurozone crisis in light of theoretical and empirical evidence. The first half explores specific theoretical contributions within a framework of growth theory models to examine the two major pillars of the European construction, the European Central Bank and the Maastricht Treaty, and seeks to explain why they are theoretically wrong. The second half presents results of counterfactual simulations using the Oxford Econometric model and estimates what the Eurozone has lost in terms of economic and social cost from 2002 to 2014 as a consequence of the super-evaluation of the Euro and the Maastricht Treaty parameters being mistakenly fixed and pursued. Finally, the author supports the urgent need to refund the European Union, up-dating The Maastricht Treaty and the ECB statute to build three concentric circles: the USE (United States of Europe), the EU (European Union), the EAFTDA (Europe/Africa Free Trade and Development Area).--