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The euro: It can't happen, It's a bad idea, It won't last. US economists on the EMU, 1989-2002

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Author Info

  • Lars Jonung
  • Eoin Drea

Abstract

This study of approximately 170 publications shows (a) that US academic economists concentrated on the question "Is the EMU a good or bad thing?", usually adopting the paradigm of optimum currency areas as their main analytical vehicle, (b) that they displayed considerable scepticism towards the single currency, (c) that economists within the Federal Reserve System had a less analytical and a more pragmatic approach to the single currency than US academic economists, and (e) that US economists adjusted their views and analytical approach as European monetary unification progressed. In particular, the traditional optimum currency approach was gradually put into question.

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Bibliographic Info

Paper provided by Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission in its series European Economy - Economic Papers with number 395.

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Length: 56 pages
Date of creation: Dec 2009
Date of revision:
Handle: RePEc:euf:ecopap:0395

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Related research

Keywords: The euro; optimum currency area; ECB; EMU; Federal Reserve System; monetary unification; Europe; United States; Jonung; Drea;

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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Savonarola vs Paperoga: decrescita e endogenità delle aree valutarie ottimali
    by Alberto Bagnai in Goofynomics on 2011-12-31 17:42:00
  2. Euro: una catastrofe annunciata
    by Alberto Bagnai in Goofynomics on 2011-12-03 22:50:00
  3. Euro: una catastrofe annunciata
    by redazione in Appello al popolo on 2011-12-04 14:55:29
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Cited by:
  1. Klaus Regling & Servaas Deroose & Reinhard Felke & Paul Kutos, 2010. "The Euro After Its First Decade : Weathering the Financial Storm and Enlarging the Euro Area," Governance Working Papers 22817, East Asian Bureau of Economic Research.
  2. Sergio Cesaratto, 2012. "Harmonic and Conflict Views in International Economic Relations: a Sraffian view," Department of Economics University of Siena 651, Department of Economics, University of Siena.
  3. Ludger Schuknecht & Philippe Moutot & Philipp Rother & Jürgen Stark, 2011. "The Stability and Growth Pact: Crisis and Reform," CESifo DICE Report, Ifo Institute for Economic Research at the University of Munich, vol. 9(3), pages 10-18, October.
  4. Karsai Zoltán-Krisztián, 2012. "Does The Maastricht Convergence Criteria Work?," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(2), pages 107-114, December.

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