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International Costs and Benefits from EMU

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  • George Alogoskoufis
  • Richard Portes

Abstract

In this paper we examine the international implications of monetary union in the European Community (EMU), and the associated international costs and benefits. We consider prospective changes in international institutions, the potential role of the ecu as an international currency, and the implications of EMU for the international coordination of monetary and fiscal policies.

Suggested Citation

  • George Alogoskoufis & Richard Portes, 1990. "International Costs and Benefits from EMU," NBER Working Papers 3384, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:3384
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    1. Papaioannou, Elias & Portes, Richard & Siourounis, Gregorios, 2006. "Optimal currency shares in international reserves: The impact of the euro and the prospects for the dollar," Journal of the Japanese and International Economies, Elsevier, vol. 20(4), pages 508-547, December.
    2. Agnès Bénassy-Quéré, 1996. "Potentialities and Opportunities of the Euro as an International Currency," Working Papers 1996-09, CEPII research center.
    3. Eichengreen, Barry & Ghironi, Fabio, 1997. "European Monetary Unification and International Monetary Cooperation," Department of Economics, Working Paper Series qt10d518tg, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    4. Carsten Hefeker & Mathias Moersch, 1997. "Possible effects of EMU on German long-term interest rates," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 32(3), pages 144-151, May.
    5. Zhang, Cathy, 2014. "An information-based theory of international currency," Journal of International Economics, Elsevier, vol. 93(2), pages 286-301.
    6. Richard Portes, 2002. "The Euro and the International Financial System," Chapters, in: Marco Buti & André Sapir (ed.), EMU and Economic Policy in Europe, chapter 13, Edward Elgar Publishing.
    7. Rita De Siano & Marcella D'Uva & Giovanna Messina, 1999. "Aree Monetarie Ottimali: Literature Review," Working Papers 2_1999, D.E.S. (Department of Economic Studies), University of Naples "Parthenope", Italy.
    8. Richard Portes & Hélène Rey, 1998. "The emergence of the euro as an international currency," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 13(26), pages 306-343.
    9. Robert McCauley, 1999. "The Euro and the Dollar, 1998," Open Economies Review, Springer, vol. 10(1), pages 91-133, February.
    10. Gerlach, Stefan, 1995. "Adjustable pegs vs. single currencies: How valuable is the option to realign?," European Economic Review, Elsevier, vol. 39(6), pages 1155-1170, June.
    11. Jean-Paul Allegret & Bernard Courbis, 1999. "Les pays du Sud face au défi d'un espace financier euro-méditerranéen," Revue d'Économie Financière, Programme National Persée, vol. 52(2), pages 185-206.
    12. Elias Papaioannou & Richard Portes, 2008. "The international role of the euro: a status report," European Economy - Economic Papers 2008 - 2015 317, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    13. Jean Dermine, 1996. "European Banking with a Single Currency," Center for Financial Institutions Working Papers 96-54, Wharton School Center for Financial Institutions, University of Pennsylvania.

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