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What Have we Learnt about Monetary Integration since the Maastricht Treaty?

Listed author(s):
  • PAUL DE GRAUWE

The present governance of the euro area has been devised assuming that the world fits the monetarist-real-business-cycle theory. But that theory is not a correct representation of the world. The European monetary union is a remarkable achievement, but remains fragile because of the absence of a sufficient degree of political union. Copyright 2006 Blackwell Publishing Ltd.

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1468-5965.2006.00659.x
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Article provided by Wiley Blackwell in its journal JCMS: Journal of Common Market Studies.

Volume (Year): 44 (2006)
Issue (Month): (November)
Pages: 711-730

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Handle: RePEc:bla:jcmkts:v:44:y:2006:i::p:711-730
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  1. Frankel, Jeffrey A & Rose, Andrew K, 1998. "The Endogeneity of the Optimum Currency Area Criteria," Economic Journal, Royal Economic Society, vol. 108(449), pages 1009-1025, July.
  2. Boeri, Tito & Brugiavini, Agar & Calmfors, Lars (ed.), 2001. "The Role of Unions in the Twenty-first Century: A Report for the Fondazione Rodolfo Debenedetti," OUP Catalogue, Oxford University Press, number 9780199246588.
  3. Alejandro Micco & Ernesto Stein & Guillermo Ordoñez, 2003. "The currency union effect on trade: early evidence from EMU," Economic Policy, CEPR;CES;MSH, vol. 18(37), pages 315-356, October.
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  5. Jacques Melitz, 2003. "Geography, Trade and Currency Union," Working Papers 2003-25, Center for Research in Economics and Statistics.
  6. Cukierman, Alex & Lippi, Francesco, 2001. "Labour Markets and Monetary Union: A Strategic Analysis," Economic Journal, Royal Economic Society, vol. 111(473), pages 541-565, July.
  7. Pierfederico Asdrubali & Bent E. Sørensen & Oved Yosha, 1996. "Channels of Interstate Risk Sharing: United States 1963–1990," The Quarterly Journal of Economics, Oxford University Press, vol. 111(4), pages 1081-1110.
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  9. Alejandro Micco & Ernesto Stein & Guillermo Ordoñez, 2003. "The currency union effect on trade: early evidence from EMU," Economic Policy, CEPR;CES;MSH, vol. 18(37), pages 315-356, October.
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