European Monetary Integration From German Dominance to an EC Central Bank?

Monetary integration in the EC will continue with the desired hardening of the European Monetary System that is expected to lead to an EC central bank in the 1990s. Why has the European Monetary System been so successful and what role has the Deutsche Bundesbank played in monetary policy and the EMS...

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Bibliographic Details
Other Authors: Welfens, Paul J.J. (Editor)
Format: eBook
Language:English
Published: Berlin, Heidelberg Springer Berlin Heidelberg 1991, 1991
Edition:1st ed. 1991
Subjects:
Online Access:
Collection: Springer Book Archives -2004 - Collection details see MPG.ReNa
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245 0 0 |a European Monetary Integration  |h Elektronische Ressource  |b From German Dominance to an EC Central Bank?  |c edited by Paul J.J. Welfens 
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260 |a Berlin, Heidelberg  |b Springer Berlin Heidelberg  |c 1991, 1991 
300 |a XII, 260 p  |b online resource 
505 0 |a 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 -- The European Monetary System and European Integration: An Evaluation -- 1. Introduction -- 2. European Macroeconomic Convergence -- 3. Macroeconomic Convergence and Economic Integration -- 4. Conclusion -- 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 --  
505 0 |a 5. Summary and Conclusions -- Discussant: Alan G. Isaac -- 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 -- 1. Introduction -- 2. The Historical Record -- 3. Liberalization and Regulation in the Commissions New Approach -- 4. Likely Impact of the New Approach: Microeconomics -- 5. Likely Impact of the New Approach: Macroeconomics -- 6. Conclusions -- Discussant: Sydney Key -- Problems of Monetary Policy Coordination in the Transition Phase -- 1. Introduction -- 2. Open Questions In Stage One -- 3. Open Questions of Stage 2 -- 4. Conclusions -- Discussant: Horst Ungerer --  
505 0 |a 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 
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653 |a Finance 
653 |a Management science 
653 |a Economics, general 
653 |a Finance, general 
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520 |a Monetary integration in the EC will continue with the desired hardening of the European Monetary System that is expected to lead to an EC central bank in the 1990s. Why has the European Monetary System been so successful and what role has the Deutsche Bundesbank played in monetary policy and the EMS in Europe? This book gives an assessment of the EMS developments and its stability record, analyzes the impact of German monetary unification and shows how financial market liberalization as well as the EC 1992 project affect the process of Economic and Monetary Union. The progress in the EMS is occuring in a period of both thorough changes in the U.K. and in European East-West relations and global economic changes. The problems of EC monetary union and EC central banking are discussed and questions of the transition phase of monetary policy are raised. The further progress of EMU - including the creation of an EC central bank - is analyzed both theoretically and from a political-economy perspective. Creating a common central bank and an EC currency raises new issues for the consistency of monetary and fiscal policy in Europe, where U.S. experiences provide valuable insights