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On the origins of the Franco-German EMU controversies

Author

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  • Ivo Maes

    () (National Bank of Belgium, Research Department)

Abstract

EMU is, to a large extent, the result of a process of Franco-German reconciliation and understanding. However, in the postwar period, there were significant differences in ideas and economic policy-making in Germany and France. France was dominated by the "tradition républicaine", giving a central role to the state in economic life. In Germany, the federal structure of the state went together with the social market economy. In this paper an analysis is presented of these differences in thought and economic policy-making, how they evolved through time, and how they contributed to shaping the nature and form of the European Union. The focus is on the Rome Treaties, the Werner Report and the Maastricht Treaty process.

Suggested Citation

  • Ivo Maes, 2002. "On the origins of the Franco-German EMU controversies," Working Paper Research 34, National Bank of Belgium.
  • Handle: RePEc:nbb:reswpp:200207
    as

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    File URL: https://www.nbb.be/doc/oc/repec/reswpp/wp34.pdf
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    References listed on IDEAS

    as
    1. Ivo Maes, 2002. "Economic Thought and the Making of European Monetary Union," Books, Edward Elgar Publishing, number 2515.
    2. Jeanfils, P., 2000. "A Model with Explicit Expectations for Belgium," Papers 4, Warwick - Development Economics Research Centre.
    3. Barro, Robert J & Gordon, David B, 1983. "A Positive Theory of Monetary Policy in a Natural Rate Model," Journal of Political Economy, University of Chicago Press, vol. 91(4), pages 589-610, August.
    4. Bernhard Molitor, 1980. "Politique industrielle et Planification en France," Revue Économique, Programme National Persée, vol. 31(5), pages 837-852.
    5. Christian Noyer, 1992. "À propos du statut et de l'indépendance des Banques centrales," Revue d'Économie Financière, Programme National Persée, vol. 22(3), pages 13-18.
    6. Lucas, Robert Jr, 1976. "Econometric policy evaluation: A critique," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 1(1), pages 19-46, January.
    7. Nyssens, A. & Butzen, P. & Bisciari, P., 2000. "Performances economiques des Etats-Unis dans les annees nonante," Papers 3, Warwick - Development Economics Research Centre.
    8. Eijffinger, Sylvester & Haan, Jakob de, 2000. "European Monetary and Fiscal Policy," OUP Catalogue, Oxford University Press, number 9780198776161.
    9. Pierre Rosanvallon, 1987. "Histoire des idées keynésiennes en France," Revue Française d'Économie, Programme National Persée, vol. 2(4), pages 22-56.
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    Cited by:

    1. William Mitchell, 2016. "Eurozone Groupthink and Denial on a Grand Scale," World Economic Review, World Economics Association, vol. 2016(7), pages 43-55, July.

    More about this item

    Keywords

    EMU; economic thought; economic policy-making; France; Germany;

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • P16 - Economic Systems - - Capitalist Systems - - - Political Economy of Capitalism

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