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The size and composition of assets and liabilities of households differ vastly across the income distribution in euro area countries. This paper shows that differences between income groups in household finance on both sides of the balance sheet contribute to income inequality. The distribution of household credit is two times as unequal and the distribution of stock market wealth four times as unequal as the distribution of household income. Larger credit and stock markets may thus widen income inequality by providing people with high incomes with better investment opportunities and raising the returns on their savings. In addition, financial institutions help people protect their consumption against temporary changes in their income. But they do so unevenly across the distribution, as a household is more likely to be denied credit if it has a low income. No evidence is found of discrimination in credit provision against women or immigrants.

Economics --- Euro Area

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Euro --- Eurozone --- Monetary unions --- Finance --- Euro (Monnaie) --- Zone euro --- Unions monétaires --- Finances

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Eurozone Dystopia traces the origin of the Eurozone and shows how the historical Franco-German rivalry combined with the growing dominance of neo-liberal economic thinking to create a monetary system that was deeply flawed and destined to fail. William Mitchell argues that the political class in Europe is trapped in a destructive groupthink. Based on a flawed understanding of macroeconomic fundamentals, groupthink extols the virtues of the erroneous concept of the self-regulating free market and prevents Europe from seeing its own policy failures. As a result, millions are unemployed, with imperilled member states caught in a cycle of persistent stagnation and rising social instability. Providing a detailed historical analysis of the evolution of the Eurozone and its failings from the 1940s to the present day, the book argues that the Eurozone lacks the necessary monetary architecture, particularly the existence of a federal fiscal function which could have resolved the economic crisis quickly. The author examines the options available to Europe and concludes that an orderly abandonment of the euro and a return to national currencies is the superior option available. The justification for this conclusion is exhaustively argued within a Modern Monetary Theory framework. This thoughtful and accessible account of Europe's economic woes will appeal to all those who are seeking an explanation for the crisis and are receptive to sensible and credible alternatives to the current scenario.

Eurozone. --- Monetary policy --- Euro area --- Euro zone --- Monetary unions --- Europäische Union.

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'The Future of the Euro' is an attempt by political economists to analyse the fundamental causes of the euro crisis, determine how it can be fixed, and consider what likely futures lie ahead for the currency. The book makes three interrelated arguments that emphasize the primacy of political over economic factors. It concludes that any successful long-term solution to the euro's predicament must start with the political foundations of markets.

Euro --- Eurozone --- Currency crises --- Financial crises --- Finance --- Business & Economics --- Money --- Crashes, Financial --- Crises, Financial --- Financial crashes --- Financial panics --- Panics (Finance) --- Stock exchange crashes --- Stock market panics --- Crises --- Currency question --- Foreign exchange --- Euro area --- Euro zone --- Monetary unions

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International finance --- Foreign exchange --- Finances internationales --- Change --- AA / International- internationaal --- FR / France - Frankrijk --- 368.611 --- 333.451.2 --- 333.454.0 --- 333.610 --- 382.242.4 --- 333.600 --- 333.662 --- 333.605 --- 333.451.7 --- 333.454.1 --- 333.450 --- 333.451.1 --- 333.451.0 --- Bankdepositoverzekering. Kredietverzekering. Waarborg op bankdeposito's. Delcredere. --- Deviezen op termijn. --- Deviezencontrole: algemeenheden. --- Effectenbeurzen: algemeenheden. --- Eurodollars. Petrodollars. Euro-munten. Euro-uitgiften. --- Financiële markten. Kapitaalmarkten (algemeenheden). --- Internationale uitgiften van effecten. Euro-uitgiften. --- Nieuwe financiële instrumenten. --- Speculatie. Wisselrisico's. --- Techniek, wetgeving en organismen voor de wisselcontrole. BLIW. --- Theorie van het deviezenverkeer. Theorie van de koopkrachtpariteit. --- Wisselkoersen. --- Wisselmarkt: algemeenheden. --- Bankdepositoverzekering. Kredietverzekering. Waarborg op bankdeposito's. Delcredere --- Deviezen op termijn --- Deviezencontrole: algemeenheden --- Effectenbeurzen: algemeenheden --- Eurodollars. Petrodollars. Euro-munten. Euro-uitgiften --- Financiële markten. Kapitaalmarkten (algemeenheden) --- Internationale uitgiften van effecten. Euro-uitgiften --- Nieuwe financiële instrumenten --- Speculatie. Wisselrisico's --- Techniek, wetgeving en organismen voor de wisselcontrole. BLIW --- Theorie van het deviezenverkeer. Theorie van de koopkrachtpariteit --- Wisselkoersen --- Wisselmarkt: algemeenheden