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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Find related papers by JEL classification:
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- F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
- F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
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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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- Dellas, Harris & Tavlas, George S., 2001. "Lessons of the euro for dollarization: Analytic and political economy perspectives," Journal of Policy Modeling, Elsevier, vol. 23(3), pages 333-345, April.
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