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European Monetary Integration EMS Developments and International Post-Maastricht Perspectives

EU monetary integration was reinforced in the 1980s when macroeconomic convergence and a dominant role of the German Bundesbank created the basis for relatively stable exchange rates and increasing EU trade volumes. The analysis here focuses on the EMS crisis of 1992/93, the topic of optimum currenc...

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Bibliographic Details
Other Authors: Welfens, Paul J.J. (Editor)
Format: eBook
Language:English
Published: Berlin, Heidelberg Springer Berlin Heidelberg 1996, 1996
Edition:3rd ed. 1996
Subjects:
International Economics
International Economic Relations
Online Access:
Collection: Springer Book Archives -2004 - Collection details see MPG.ReNa
Table of Contents:
  • European Monetary Union: Post-Maastricht Perspectives on Monetary and Real Integration in Europe
  • 1. European Monetary Integration after Maastricht
  • 2. The Single Market Program and EC Monetary Integration
  • 3. Transition Problems towards EMU
  • Discussant: Randall Henning
  • The European Monetary System and European Integration: An Evaluation
  • 1. Introduction
  • 2. European Macroeconomic Convergence
  • 3. Macroeconomic Convergence and Economic Integration
  • 4. Conclusion 70
  • Data
  • Discussant: Vittorio Grilli
  • Basic Features of a European Monetary Order
  • 1. Introduction
  • 2. Facing the Challenge of an EC Monetary Order
  • 3. The Need for Coherence of Fiscal and Monetary Policy
  • 4. Perspectives
  • Towards Monetary Union in the European Community: Why and How
  • 1. Introduction
  • 2. Where: The Meaning of Monetary Union
  • 3. Why: Costs and Benefits from Monetary Union
  • 4. How: Concrete Steps
  • 5. Summary and Conclusions
  • Discussant: Alan G. Isaac
  • The European Community as an Optimum Currency Area
  • 1. Introduction
  • 2. Model in a McKinnon Setting
  • 3. Conclusion
  • Discussant: Karen H. Johnson
  • List of Contributors
  • Appendix: Demand for Money and Currency Substitution in Europe
  • German Monetary Unification and European Monetary Union: Theoretical Issues and Strategic Policy Problems
  • 1. Introduction
  • 2. Are Germany and Europe Optimum Currency Areas?
  • 3. German Monetary Unification
  • 4. European Monetary Union
  • 5. Big Leap for Germany and Gradualism for Europe
  • Discussant: John Williamson
  • Liberalization and Regulation in the Process of Financial Market Integration in the European Community 163
  • 1. Introduction
  • 2. The Historical Record
  • 3. Liberalization and Regulation in the Commission’s New Approach
  • 4. Likely Impact of the New Approach: Microeconomics
  • 5. Likely Impact of the New Approach: Macroeconomics
  • 6. Conclusions
  • Discussant: Sydney J. Key
  • Problems of European Monetary Policy Coordination in the Transition Phase
  • 1. Introduction
  • 2. Open Questions In Stage One
  • 3. OpenQuestions of Stage 2
  • 4. Conclusions
  • Discussant: Horst Ungerer
  • Creating a European Central Bank after 1992: Issues of EC Monetary Integration and Problems of Institutional Innovation
  • 1. Monetary and Real Integration in the EC
  • 2. The European Monetary System in Perspective
  • 3. EC 1992 and Monetary Integration
  • 4. Creating an EC Central Bank
  • Discussant: George M. von Furstenberg
  • Monetary and Fiscal Policy in a European Monetary Union: Some Public Choice Considerations
  • 1. Introduction
  • 2. Determinants of Inflation in a Monetary Union
  • 3. The Role of Fiscal Policy in a Monetary Union
  • 4. Conclusions
  • Discussant: Robert Solomon
  • Whan Can the Fiscal System in the United States and Canada Tell Us about EMU
  • 1. Introduction
  • 2. The Fiscal System in United States and Canada
  • 3. The Relative Importance of Asymmetric Shocks
  • 4. The Impact of Federal Taxes and Transfers in the United States and Canada
  • 5. Redistribution and Stabilization in the EC
  • 6. Conclusions 320
  • Data/Appendix
  • Discussant: Susan M. Collins

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