International Implications of European Economic and Monetary Union [electronic resource] / Norbert Funke and Mike Kennedy.
- 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)
- Access Restriction:
- Restricted for use by site license.
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