In discussions of the likely implications for Europe of EMU, the United States is often cited as an example of a monetary union, while the United States' central bank, the Federal Reserve System, is cited as a model for how a central bank would function in a monetary union. While the costs and benefits of monetary union in Europe have been subject to a lot of debate, the authors focus on a potential set of costs and benefits that seem to have received relatively little attention in the existing literature. Specifically, they ask what are the likely benefits to Europe in terms of business cycle stabilization or synchronization from monetary union. The authors compare the business cycle properties of the fifteen EU countries that are potentially eligible for membership in EMU with the properties of the 12 Federal Reserve districts in the U.S.
Download Info
To our knowledge, this item is not available for
download. To find whether it is available, there are three
options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page
whether it is in fact available.
3. Perform a search for a similarly titled item that would be
available.
Publisher Info
Paper provided by Federal Reserve Bank of Dallas in its series Working Papers with number
97-07.
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.)