Designing Fiscal and Monetary Institutions for a European Monetary Union
This paper explores the conditions under which a European Monetary Union (EMU) is an optimum currency area. The scope for an EMU increases with the convergence of structural and fiscal policies, small money holdings, a conservative European Central Bank, and dependent national central banks. How national policies affect the rest of the union once the EMU has been established is also investigated. The case for surveillance of national structural and fiscal policies appears to depend mainly on the monetary arrangements in the union. Copyright 2000 by Kluwer Academic Publishers
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
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.:
- Levine, Paul L & Pearlman, Joseph, 1992. "Fiscal and Monetary Policy Under EMU: Credible Inflation Targets or Unpleasant Monetary Arithmetic?," CEPR Discussion Papers 701, C.E.P.R. Discussion Papers.
- Laskar, Daniel, 1989.
"Conservative central bankers in a two-country world,"
European Economic Review,
Elsevier, vol. 33(8), pages 1575-1595, October.
- Laskar Daniel, 1987. "Conservative central bankers in a two-country world," CEPREMAP Working Papers (Couverture Orange) 8705, CEPREMAP.
- Beetsma, R.M.W.J. & Bovenberg, A.L., 1997.
"Designing fiscal and monetary institutions in a second best world,"
Other publications TiSEM
9cf95e79-e382-4268-8e4d-c, Tilburg University, School of Economics and Management.
- Beetsma, Roel M. W. J. & Lans Bovenberg, A., 1997. "Designing fiscal and monetary institutions in a second-best world," European Journal of Political Economy, Elsevier, vol. 13(1), pages 53-79, February.
- Beetsma, R.M.W.J. & Bovenberg, A.L., 1995. "Designing fiscal and monetary institutions in a second-best world," Discussion Paper 1995-47, Tilburg University, Center for Economic Research.
- Charles R. Bean, 1992.
"Economic and Monetary Union in Europe,"
Journal of Economic Perspectives,
American Economic Association, vol. 6(4), pages 31-52, Fall.
- Levine, Paul, 1993. "Fiscal Policy Co-ordination under EMU and the Choice of Monetary Instrument," The Manchester School of Economic & Social Studies, University of Manchester, vol. 61(0), pages 1-12, Suppl..
- Guy Debelle & Stanley Fischer, 1994.
"How independent should a central bank be?,"
Conference Series ; [Proceedings],
Federal Reserve Bank of Boston, vol. 38, pages 195-225.
- Alesina, Alberto F & Grilli, Vittorio, 1993.
"On the Feasibility of a One- or Multi-Speed European Monetary Union,"
CEPR Discussion Papers
792, C.E.P.R. Discussion Papers.
- Alberto Alesina & Vittorio Grilli, 1993. "On the Feasibility of a One or Multi-Speed European Monetary Union," NBER Working Papers 4350, National Bureau of Economic Research, Inc.
- Beetsma, Roel M W J & Bovenberg, A Lans, 2000.
"Designing Fiscal and Monetary Institutions for a European Monetary Union,"
Springer, vol. 102(3-4), pages 247-69, March.
- Beetsma, R.M.W.J. & Bovenberg, A.L., 1995. "Designing fiscal and monetary institutions for a European Monetary Union," Discussion Paper 1995-58, Tilburg University, Center for Economic Research.
- Beetsma, Roel & Bovenberg, A Lans, 1995. "Designing Fiscal and Monetary Institutions for a European Monetary Union," CEPR Discussion Papers 1303, C.E.P.R. Discussion Papers.
- Beetsma Roel M.W.J. & Bovenberg A. Lans, 1996. "Designing fiscal and monetary institutions for a European Monetary Union," Research Memorandum 004, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
- Alesina, Alberto & Tabellini, Guido, 1987. "Rules and Discretion with Noncoordinated Monetary and Fiscal Policies," Economic Inquiry, Western Economic Association International, vol. 25(4), pages 619-30, October.
- Buiter, Willem H. & Kletzer, Kenneth, 1990. "Reflections on the Fiscal Implications of a Common Currency," CEPR Discussion Papers 418, C.E.P.R. Discussion Papers.
- Thomas Krichel & Paul Levine & Joseph Pearlman, 1996.
"Fiscal and monetary policy in a monetary union: Credible inflation targets or monetized debt?,"
Review of World Economics (Weltwirtschaftliches Archiv),
Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 132(1), pages 28-54, March.
- Thomas Krichel & Paul Levine & Joseph Pearlman, 1994. "Fiscal and Monetary Policy in a Monetary Union: Credible Inflation Targets or Monetised Debt?," School of Economics Discussion Papers 9403, School of Economics, University of Surrey.
- Tamim Bayoumi, 1994.
"A Formal Model of Optimum Currency Areas,"
IMF Working Papers
94/42, International Monetary Fund.
- Kenneth Rogoff, 1985. "The Optimal Degree of Commitment to an Intermediate Monetary Target," The Quarterly Journal of Economics, Oxford University Press, vol. 100(4), pages 1169-1189.
- Eichengreen, Barry, 1993. "European Monetary Unification," Journal of Economic Literature, American Economic Association, vol. 31(3), pages 1321-57, September.
- Buiter, W.H. & Kletzer, K.M., 1990. "Reflections On Fiscal Implications Of Common Currency," Papers 613, Yale - Economic Growth Center.
- Lohmann, Susanne, 1992. "Optimal Commitment in Monetary Policy: Credibility versus Flexibility," American Economic Review, American Economic Association, vol. 82(1), pages 273-86, March.
When requesting a correction, please mention this item's handle: RePEc:kap:pubcho:v:102:y:2000:i:3-4:p:247-69. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla)or (Rebekah McClure)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.