The Road to Economic and Monetary Union
This paper provides a survey about various issues surrounding economic and monetary union (EMU). After evaluating costs and benefits of EMU, the authors analyze the transition of EMU in general and the rationale behind the convergence criteria for the public finances in particular. In discussing the institutional framework of EMU, they explore the excessive deficit rule constraining decentralized fiscal policy. Finally, the authors address the impact of EMU on social security and the labor market. Copyright 1997 by WWZ and Helbing & Lichtenhahn Verlag AG
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Volume (Year): 50 (1997)
Issue (Month): 1 ()
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