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The switch to electronic payments

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  • anonymous

Abstract

On January 1, 1999, 11 European countries will officially become a monetary union with one currency, the euro. Forming a monetary union brings benefits, such as increased trade between countries. But it carries costs as well. To join the union, each country must cede its right to set individual monetary and exchange-rate policies. Yet each country?s economic situation may differ from that of its fellow union members. How will these countries--and the union--fare when economic shocks hit, especially shocks that affect one country or region more than another? In this article, Gwen Eudey weighs the benefits and costs of European monetary union and discusses some of the issues involved.

Suggested Citation

  • anonymous, 1998. "The switch to electronic payments," Annual Report, Federal Reserve Bank of Chicago, issue Nov, pages 7-19.
    • Handle: RePEc:fip:fedhar:y:1998:i:nov:p:7-19
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    File URL: https://www.philadelphiafed.org/-/media/frbp/assets/institutional/about-us/annual-reports/ar98.pdf
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    Cited by:

    1. Han, Guangze & Wang, Lin, 2018. "Phase equilibrium pressure of dielectric system under influence of electrostatic field," Energy, Elsevier, vol. 142(C), pages 90-95.
    2. Stén, Johan C.-E. & Essén, Hanno, 2023. "On the evaluation of electrostatic energy of volume charge distributions and the role of the Coulomb singularity," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 205(C), pages 987-996.

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    Keywords

    Payment systems;

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