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Brussels on a single money

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  • Jacques Mélitz

Abstract

This review article discusses the recent document titled “One Market, One Money” in which the European Commission develops its case for European monetary union. After examining the monetary issues as such, the article focuses on the reasons for the Commission's very worried attitude about fiscal policy autonomy. The closing section considers the problem of the transition to a single money. Attention is also called to the issue of a lender of last resort. Copyright Kluwer Academic Publishers 1991

Suggested Citation

  • Jacques Mélitz, 1991. "Brussels on a single money," Open Economies Review, Springer, vol. 2(3), pages 323-336, October.
  • Handle: RePEc:kap:openec:v:2:y:1991:i:3:p:323-336
    DOI: 10.1007/BF01886150
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    1. Barry Eichengreen, 1992. "Is Europe an Optimum Currency Area?," Palgrave Macmillan Books, in: Silvio Borner & Herbert Grubel (ed.), The European Community after 1992, chapter 8, pages 138-161, Palgrave Macmillan.
    2. Giovannini, A. & Spaventa, L., 1990. "Fiscal Rules in the Europen Monetary Union: A No-Entry Clause," Papers 8, Roma "la Sapienza" - Scienze Economiche.
    3. van der Ploeg, F., 1990. "Budgetary aspects of economic and monetary integration in Europe," Discussion Paper 1990-37, Tilburg University, Center for Economic Research.
    4. Paul Masson & Jacques Melitz, 1991. "Fiscal policy independence in a European Monetary Union," Open Economies Review, Springer, vol. 2(2), pages 113-136, June.
    5. Van Der Ploeg, F., 1990. "Macroeconomic Policy Coordination During The Various Phases Of Economic And Monetary Integration In Europe," Papers 9061, Tilburg - Center for Economic Research.
    6. Eichengreen, Barry, 1990. "Costs and Benefits of European Monetary Unification," Department of Economics, Working Paper Series qt2r11b5x1, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    7. Cohen, Daniel & Wyplosz, Charles, 1989. "The European Monetary Union: An Agnostic Evaluation," CEPR Discussion Papers 306, C.E.P.R. Discussion Papers.
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    Cited by:

    1. George S. Tavlas, 2009. "The Benefits And Costs Of Monetary Union In Southern Africa: A Critical Survey Of The Literature," Journal of Economic Surveys, Wiley Blackwell, vol. 23(1), pages 1-43, February.
    2. Mohd Hussain Kunroo & Irfan Ahmad Sofi & Naushad Ali Azad, 2016. "Trade implications of the Euro in EMU countries: a panel gravity analysis," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 43(2), pages 391-413, May.
    3. Jean Cordier & Pierre Jaillet & Dominique Plihon, 1993. "La conduite des politiques économiques et le policy-mix dans l'UEM," Économie et Statistique, Programme National Persée, vol. 262(1), pages 37-48.
    4. Mr. Xavier Debrun & Mr. Tamon Asonuma & Mr. Paul R Masson, 2012. "Welfare Effects of Monetary Integration: The Common Monetary Area and Beyond," IMF Working Papers 2012/136, International Monetary Fund.
    5. Paul R. Masson & Mark P. Taylor, 1993. "Fiscal Policy within Common Currency Areas," Journal of Common Market Studies, Wiley Blackwell, vol. 31(1), pages 29-44, March.
    6. Meshack Tjirongo, 1995. "Short-term stabilization versus long-term price stability: evaluating Namibia`s membership of the Common Monetary Area," Economics Series Working Papers WPS/1995-18, University of Oxford, Department of Economics.

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