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EMU: Ready or Not?

Author

Listed:
  • Obstfeld, M.

Abstract

This essay is based on the 1997-98 Frank D. Graham Memorial Lecture, which I had the honor of presenting at Princeton University on April 9, 1998. Frank Graham was deeply concerned with the interplay among national policy sovereignty, exchange-rate regimes, and price-level stability. Today, the world offers an embarrassingly rich diversity of national and regional arenas in which domestic political realities and the desire for exchange-rate stability have come - or threaten to come - into conflict. Europe, where a new common curency, the euro, is to be launched on January 1, 1999, will not be exempt from this tension in the foreseeable future.

Suggested Citation

  • Obstfeld, M., 1998. "EMU: Ready or Not?," Princeton Essays in International Economics 209, International Economics Section, Departement of Economics Princeton University,.
    • Handle: RePEc:fth:priifi:209
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    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions

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