On the Links Between Monetary and Political Integration
AbstractThe connection between monetary integration and political integration is probably the most contentious aspect of the Maastricht process. In this paper I suggest that relationship between monetary and political integration is contingent; under only slightly different initial conditions, these two dimensions of the integration process can evolve in very different ways. Specifically, whether monetary and political integration develop hand in hand or the first progresses without significant movement toward the second will depend on the accompanying fiscal constitution.
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Bibliographic InfoPaper provided by Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley in its series Center for International and Development Economics Research, Working Paper Series with number qt371499mw.
Date of creation: 06 Dec 1996
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Monetary integration; international economics; EMU;
Other versions of this item:
- Barry Eichengreen., 1996. "On the Links Between Monetary and Political Integration," Center for International and Development Economics Research (CIDER) Working Papers C96-077, University of California at Berkeley.
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- Willem H. Buiter, 1999.
"The EMU and the NAMU: What is the Case for North American Monetary Union?,"
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University of Toronto Press, vol. 25(3), pages 285-305, September.
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- Willem H. Buiter, 2000. "Is Iceland an Optimal Currency Area?," Economics wp10, Department of Economics, Central bank of Iceland.
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