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1

Real Convergenceas theWay to Heal the Eurozone

100%
Nowak A. Z., Ryć K., Shachmurove Y.
Yearbook of Polish European Studies
|
2013
|
vol. 16
s.85-110
EN
In attempting to elaborate a path to attain true convergence in the Euro¬zone, this article first analyses the mechanisms of convergence and the free market, and concludes that, contrary to what was expected, the free market principles have led to divergence in the Eurozone, with the northern countries as creditor states and south¬ern countries as debtor states. The hindrance presented by the increasing costs of credit, higher in the South than in the North of the EU, has diminished the chances of the southern countries to compete in the Single Market. The current situation is under-mining confidence in the hitherto-applied model of European integration, A deep diag¬nosis of the condition of the European Union is necessary in order to guarantee its sur¬vival. In fact, it is only through an active sectoral policy, implemented at both the level of the European Commission and the individual member countries, that the process of real convergence in the EU can be attained. Sectoral policy should be fine-tuned to the operation of market mechanisms in individual sectors of the economy in order to increase the employment rate, foster economy growth, foster specialisation and col¬laboration, and encourage greater equality. While it would not be easy to implement a proper sectoral policy within the present institutional system of the Economic and Monetary Union, this is crucial to the continuous development of the Eurozone. In this context, this paper favours a ‘semi-Keynesian’ interpretation, It is postulated to use financial instruments and support the countries suffering from the crisis in order to enable them to stimulate economic growth and create jobs. The problem is only going to be alleviated when the gaps between development levels are significantly dimin¬ished, structures of production are more assimilated, and intra-branch specialisation gains more importance. This is the real convergence.
2
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Money as a network good

100%
Włodarczyk J.
Journal of Economics and Management
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2015
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vol. 20
53-63
EN
Many economic phenomena, including flows of money, can be treated as manifestations of operation of specific networks. In contrast to the popularity of analyses of network structure and dynamics in sociology and physics, economic investigations concerning network approach in general and network properties of money in particular have not been popular until recently. This paper presents the concept of money as a network good and its features (complementarity, standardization, consumption externalities, switching costs, lock-in, dependence on social preferences and expectations and economies of scale in production). It is asserted that network theory of money may shed new light on such processes as monetary integration.
3
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Směnné kursy jako nástroj mocenské politiky v Římsko-německé říši počátkem čtyřicátých let 16. století

88%
Vorel P.
Český časopis historický (The Czech Historical Review)
|
2014
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vol. 112
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issue 3
379-401
EN
The study deals with the question of monetary integration of the Holy Roman Empire, the main result of which was the adoption of the imperial mint orders from 1524, 1551 and 1559 and the amendment to the imperial mint order from 1566. The author sees the beginning of the 1540s as a significant turning point in this process, when there was still the possibility of a compromise solution to the religious disputes within the Empire, and when the opposition imperial princes were willing to contribute financially and personally to the Habsburgs’ military operations in the conflicts with France and the Ottoman Empire. The author analyses the content of the 1542 mint agreement and documents the political contexts which lead to an acceptance by the Habsburgs of exchange rates unfavourable for the Austrian lands.
4

Plany reformy strefy euro - analiza porównawcza

63%
Bilski J.
Ekonomista
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2021
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issue 6
799-825
PL
Celem artykułu jest analiza, ocena i porównanie wybranych projektów reform strefy euro. Koncepcje przebudowy unii walutowej zostały tu podzielone na dwie grupy. Grupa pierwsza, reprezentowana przez "klasyków", obejmuje metody integracji zaproponowane przez teorię optymalnego obszaru walutowego. Oznacza to szerokie wykorzystanie mechanizmów rynku w zarządzaniu strefą euro, co wiąże się ze zwiększeniem elastyczności całej gospodarki lub jej sektorów. Podejście drugie, prezentowane przez "instytucjonalistów", zakłada ograniczenie elastyczności gospodarek i pełną synchronizację przebiegu cykli koniunkturalnych. Rzecznicy tej koncepcji widzą potrzebę zwiększenia roli instytucji i regulacji wspólnotowych w zarządzaniu gospodarką strefy euro. Realizacja koncepcji "klasyków" oznaczałaby radykalną zmianę dotychczasowych metod integracji, ponieważ proponują oni decentralizację polityki budżetowej i zarządzanie strefą euro przez mechanizmy rynku finansowego. Natomiast wdrożenie koncepcji "instytucjonalistów" jest tożsame z głęboką ingerencją władz wspólnotowych (ponadnarodowych) w zarządzaniu gospodarką - przy czym nie ma przekonujących dowodów, że synchronizacja cykli koniunkturalnych i budowanie silnej infrastruktury instytucjonalnej przyczyni się do zwiększenia efektywności procesów gospodarczych w krajach UGiW.
EN
The study is aimed to examine, assess, and compare selected reform projects of the Eurozone. The ideas for the restructuring of the Monetary Union have been divided into two groups. The first group, represented by the so called 'classics', includes integration methods proposed by the optimum currency area theory. It means a wide use of market mechanisms in the management of the Eurozone, which is connected with the expansion of the flexibility of the economy or its sectors. The second approach, presented by the so called 'institutionalists', assumes the restriction of the flexibility of economies and full synchronisation of business cycle phases. Supporters of this concept see the need to increase the role of institutions and Community regulations in the common governance of the Eurozone economy. The implementation of the concept proposed by the 'classics' means a radical change in the existing integration method because they propose decentralisation of budget policies and managing the Eurozone through financial market mechanisms. On the other hand, the concept proposed by the 'institutionalists' is identical with a deep interference of the Community (supranational) level in economic management whereas there is no convincing evidence that the synchronisation of business cycles and building of a strong institutional infrastructure will increase the efficiency of economic processes in the EMU countries.
5

Perspektywy wejścia Polski do strefy euro

63%
Wieczorek P.
Wiadomości Statystyczne. The Polish Statistician
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2003
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issue nr 5
54-66
XX
Przedstawiono warunki uczestnictwa w Unii Gospodarczej i Walutowej. Podjęto dyskusję na temat możliwości i implikacji wejścia Polski do strefy euro. Przedstawiono warunki monetarne i fiskalne wejścia do strefy euro, ujęte w formie tzw. kryteriów konwergencji (zbieżności, spójności). Przybliżono drogę Grecji do strefy euro. Przeanalizowano znaczenie dla Polski włączenia w przyszłości złotego do obszaru wspólnego pieniądza.
EN
The article presents possibilities of Polish entry into the zone of common currency in the context of currently ongoing discussion in the State on optimal moment of replace zloty (PLN) by Euro (EUR). Presentation of this problem starts from process of characterisation of conditions of participation of each state in the Economic and Monetary Union, including so-called criteria of convergence. The article describe experience of Greece on the way to Euro presenting problems which should be solved by relatively backwardness state to meet standards of convergence and showing directions of economic policy running to the target. Then - showing implications of Polish entry into Eurozone in the context of international position of Polish economy - the article analyses level of harmonisation of particular criteria of convergence by Poland. This elaboration is ended by comments on advisable - considering interest of national economy - of Polish entry into the zone of common currency, with argumentation for entry in 2006 and in late date. (original abstract)
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