Franklin

Adjustment and growth in the European Monetary Union [electronic resource] / edited by Francisco Torres and Francesco Giavazzi.

Publication:
Cambridge [England] ; New York : Cambridge University Press, 1993.
Format/Description:
Book
1 online resource (xxiv, 388 pages) : digital, PDF file(s).
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Subjects:
European Monetary System (Organization) -- Congresses.
Monetary policy -- European Economic Community countries -- Congresses.
Monetary unions -- European Economic Community countries -- Congresses.
Form/Genre:
Electronic books.
Language:
English
Summary:
The Maastricht Treaty, signed in December 1991, set a timetable for the European Community's economic and monetary union (EMU) and clearly defined the institutional policy changes necessary for its achievement. Subsequent developments have demonstrated, however, the importance of many key issues in the transition to EMU that were largely neglected at the time. This volume reports the proceedings of a joint CEPR conference with the Banco de Portugal, held in January 1992. In these papers, leading international experts address the instability of the transition to EMU, the long-run implications of monetary union and the single market for growth and convergence in Europe. They also consider the prospects for inflation and fiscal convergence, regional policy and the integration of financial markets and fiscal systems. Attention focuses on adjustment mechanisms with differentiated shocks, region-specific business cycles and excessive industrial concentration and the cases for a two-speed EMU and fiscal federalism.
Notes:
"This volume collects many of the contributions to a conference organized by Banco de Portugal and the Centre for Economic Policy Research on Economic and Monetary Union (EMU) held in Estoril on 16/18 January 1992, at the beginning of the first Portuguese presidency of the European Community."--Pref.
Includes bibliographical references and index.
Contributor:
Centre for Economic Policy Research (Great Britain)
Torres, Francisco S.
Giavazzi, Francesco.
ISBN:
0-511-59923-4