IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Log in (now much improved!) to save this paper

European Monetary Integration

Listed author(s):
  • Charles Goodhart

    ()

Registered author(s):

    In this paper I seek to establish four points:- (1) EMU will be a much tighter and more ambitious regime than the gold standard. (2) Should,d misalignment occur under EMU, it could lead to considerable political tension, since most of the short-term economic safety valves are of limited efficacy. (3) While a single currency certainly supports a single market, the claim that the former is necessary for the latter is contentious. (4) Not only would some well-designed federal fiscal stabilisation help to maintain a single currency, especially on political grounds, but also a single currency could reduce national objections to greater fiscal federalism.

    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.

    File URL: http://www.lse.ac.uk/fmg/documents/specialPapers/1990s/sp73.pdf
    Download Restriction: no

    Paper provided by Financial Markets Group in its series FMG Special Papers with number sp73.

    as
    in new window

    Length:
    Date of creation: Sep 1995
    Handle: RePEc:fmg:fmgsps:sp73
    Contact details of provider: Web page: http://www.lse.ac.uk/fmg/

    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.:

    as
    in new window


    1. von Hagen, Jurgen & Hammond, George W, 1998. "Regional Insurance against Asymmetric Shocks: An Empirical Study for the European Community," The Manchester School of Economic & Social Studies, University of Manchester, vol. 66(3), pages 331-353, June.
    2. Melitz, Jacques & Vori, Silvia, 1992. "National Insurance Against Unevenly Distributed Shocks in a European Monetary Union," CEPR Discussion Papers 697, C.E.P.R. Discussion Papers.
    3. Xavier Sala-i-Martin & Jeffrey Sachs, 1991. "Fiscal Federalism and Optimum Currency Areas: Evidence for Europe From the United States," NBER Working Papers 3855, National Bureau of Economic Research, Inc.
    4. Oskar Morgenstern, 1959. "International Financial Transactions and Business Cycles," NBER Books, National Bureau of Economic Research, Inc, number morg59-1, October.
    5. 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.
    Full references (including those not matched with items on IDEAS)

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:fmg:fmgsps:sp73. 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: (The FMG Administration)

    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.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.