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Designing fiscal and monetary institutions for a European Monetary Union

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Author Info
Beetsma,Roel M.W.J.
Bovenberg,A. Lans (METEOR)

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Abstract

This paper explores under what conditions a European Monetary Union (EMU) is an optimum currency area. The scope for an EMU increases with convergence of structural and fiscal policies, small money holdings, a conservative European Central Bank, and dependent national central banks. How national policies affect the rest of the union once the EMU has been formed is also investigated. The case for surveillance of national structural and fiscal policies appears to depend largely on monetary arrangements in the union.

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Paper provided by Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization in its series Research Memoranda with number 004.

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Date of creation: 1996
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Handle: RePEc:dgr:umamet:1996004

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Keywords: international economics and trade ;

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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Jürgen von Hagen & Susanne Mundschenk, 2002. "Koordinierung der Geld- und Fiskalpolitik in der EWU," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 71(3), pages 325-338.
  2. Acocella Nicola & Di Bartolomeo Giovanni & Tirelli Patrizio, 2007. "The macroeconomics of social pacts," wp.comunite 0028, Department of Communication, University of Teramo. [Downloadable!]
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  3. Beetsma,Roel M.W.J. & Bovenberg,A. Lans, 1995. "Monetary union without fiscal coordination may discipline policymakers," Research Memoranda 024, Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization. [Downloadable!]
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  4. Andrew Hughes Hallett, 2008. "Sustainable fiscal policies and budgetary risk under alternative monetary policy arrangements," Economic Change and Restructuring, Springer, vol. 41(1), pages 1-28, March. [Downloadable!] (restricted)
  5. Jürgen von Hagen & Susanne Mundschenk, 2003. "Fiscal and monetary policy coordination in EMU," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 8(4), pages 279-295. [Downloadable!]
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  6. Uhlig, H., 2002. "One money, but many fiscal policies in Europe : what are the consequences?," Discussion Paper 32, Tilburg University, Center for Economic Research. [Downloadable!]
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  7. Michel Beine & FréDéric Docquier, 1998. "A Stochastic Simulation Model of an Optimum Currency Area," Open Economies Review, Springer, vol. 9(3), pages 229-257, July. [Downloadable!] (restricted)
  8. Di Gioacchino, Debora & Ginebri, Sergio & Sabani, Laura, 2004. "Political support to public debt repudiation in a Monetary Union - the role of the geographical allocation of debt," Economics & Statistics Discussion Papers esdp04019, University of Molise, Dept. SEGeS. [Downloadable!]
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