The Political Economy of Monetary Union in Europe
AbstractThe Maastricht transition strategy towards monetary union is based on the idea that the transition strategy should be gradual, and that entry into the union should be conditional on the fulfilment of convergence criteria. It is argued in this paper that this approach is not based on an economic necessity, but on a political one. In particular, it serves the political objective of Germany to keep the union small.
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Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 842.
Date of creation: Sep 1993
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- Jes?s Crespo-Cuaresma & Octavio Fern?ndez-Amador, 2010.
"Business cycle convergence in EMU: A first look at the second moment,"
2010-22, Faculty of Economics and Statistics, University of Innsbruck.
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- Jean Pisani-Ferry, 1994. "Union monétaire et convergence : qu'avons nous appris ?," Working Papers 1994-14, CEPII research center.
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