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Review of the 16 Economic Mechanisms of the EMU - 15 years after "One Market, One Money"-(in Japanese)

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  • TAKATA Kiyoshi

Abstract

This paper attempts to review the "16 economic mechanisms" of the EMU (Economic and Monetary Union) in Europe summarized in "One Market, One Money" (1990). Some of their impacts may have already appeared, and others may still be unknown. In the author's opinion, two groups -"impacts relating to price stability" and "adjustment without exchange rate changes," both of which are crucial for the success of the EMU- may still be unknown. As a whole, it seems to the author that the impacts of 16 economic mechanisms have been partially visible, the EMU, however, may have not worked enough.

Suggested Citation

  • TAKATA Kiyoshi, 2006. "Review of the 16 Economic Mechanisms of the EMU - 15 years after "One Market, One Money"-(in Japanese)," ESRI Discussion paper series 168, Economic and Social Research Institute (ESRI).
    • Handle: RePEc:esj:esridp:168
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