International Implications of European Economic and Monetary Union [electronic resource] / Norbert Funke and Mike Kennedy.

Funke, Norbert author
Paris : OECD Publishing, 1997.
OECD Economics Department Working Papers 18151973 ; no.174.
OECD Economics Department Working Papers 18151973 ; no.174
Government document
1 online resource (43 pages)
Local subjects:
Euro Area. (search)
European Union. (search)
For a long time European Economic and Monetary Union was mainly considered an internal European issue and external consequences were largely ignored. In contrast to most previous analyses, this paper looks at a number of international implications of monetary union. It is argued that several factors could contribute to the euro becoming an international currency in the future and a competitor to the US dollar in this respect. The degree of uncertainty attached to this outcome, however, remains considerable and in any event the emergence of the euro as a major international currency is likely to take some time. Given the expected size of the euro-zone and the likelihood of the euro becoming an international currency, fiscal and monetary policies in the area are likely to have a significant impact on the macroeconomic environment in the rest of the world. An important issue is how will monetary union affect major bilateral exchange rate developments and their volatility. A number of ...
Title from title screen (viewed May 1, 2017).
Kennedy, Mike.
SourceOECD (Online Service)
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