Samenvatting
This first volume of two on European Monetary Union (EMU) is based on the work, and gives the view, of the Commission of the European Communities. It provides a general introduction to the issues.
The EMU project is outlined and its benefits and costs examined, including the implications for public finances and the impact on the international system. The author also looks at transitional issues in general, at national perspectives, transaction costs, and macroeconomic model simulations.
Specificaties
Inhoudsopgave
Executive Summary; A: Synthesis and Economic Principles: Synthesis; The Economics of EMU; B: The Main Benefits and Costs: Efficiency Gains; Benefits of Stable Prices; Implications for Public Finance; Adjusting without the Nominal Exchange Rate; External Dimensions; C: The Impact Through Time and Space: Transitional Issues; Spatial Aspects; National Perspectives on the Costs and Benefits of EMU; Annexes: Exchange Transaction Costs; Germany and the Netherlands: the Case of a de facto Monetary Union; European and German Economic and Monetary Union: a Comparison; Shocks and Adjustment in EMU: Simulations with the Quest Model; Exchange Rate Regimes in the EC: Simulations with the Multimod Model
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