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The EMU: forerunners and durability

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  • Robert F. Graboyes

Abstract

The first article examines the history and theory of monetary unions to ask what factors will foster a stable European Monetary Union. It concludes that a decentralized arrangement of national central banks may undermine the EMUs durability.

Suggested Citation

  • Robert F. Graboyes, 1990. "The EMU: forerunners and durability," Economic Review, Federal Reserve Bank of Richmond, vol. 76(Jul), pages 8-17.
    • Handle: RePEc:fip:fedrer:y:1990:i:jul:p:8-17:n:v.76no.4
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    File URL: https://fraser.stlouisfed.org/files/docs/publications/frbrichreview/rev_frbrich199007.pdf
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    References listed on IDEAS

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    1. Thomas Willett & Edward Tower, 1970. "Currency areas and exchange-rate flexibility," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 105(1), pages 48-65, September.
    2. Robin Leigh-Pemberton, 1989. "Europe 1992: some monetary policy issues," Economic Review, Federal Reserve Bank of Kansas City, vol. 74(Sep), pages 3-8.
    3. Michele Fratianni & Franco Spinelli, 1984. "Italy in the Gold Standard Period, 1861-1914," NBER Chapters, in: A Retrospective on the Classical Gold Standard, 1821-1931, pages 405-454, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Eichengreen, Barry, 2008. "Sui Generis EMU," CEPR Discussion Papers 6642, C.E.P.R. Discussion Papers.
    2. Kaikati, Jack G., 1999. "The Euro versus the U.S. dollar: an overview," Journal of World Business, Elsevier, vol. 34(2), pages 171-192, July.

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