Policy Issues in the Operation of Currency Unions

List of contributors; Preface; Part I. Assessing the Literature: 1. Currency unions: a survey of the issues Paul R. Masson and Mark P. Taylor; Part II. Existing Currency Unions: 2. Costs and benefits of economic and monetary union David Gros; 3. Private capital markets and adjustment in a currency union Andrew Atkeson and Tamim Bayoumi; 4. The economics of the CFA franc zone James M. Boughton; Part III. Is Europe an Optimum Currency Area?: 5. Is Europe an optimum currency area? Paul de Grawe and Wim Vanhaverbeke; 6. Labor markets and European monetary unification Barry Eichengreen; 7. European excess stock returns and capital market integration Patricia Fraser and Ronald MacDonald; Part IV. EMU: The Road From Maastricht: 8. The European system of central banks after Maastricht Charles A. E. Goodhart; 9. A European money demand function Michael J. Artis, Robin C. Bladen-Hovell and Wenda Zhang; 10. Monetary union and fiscal union Jürgen von Hagen; Index.