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Aspects of European Economic and Monetary Union

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  • Helmut Kramer

    (WIFO)

Abstract

With the launching of Economic and Monetary Union (EMU) on 1 January 1999, the prerequisites should be in place to make European economies more competitive in the long run. Skeptical economists have forwarded numerous reasons why EMU will not work, usually based on the "optimal currency area" theory. Any further progress in the economic convergence of member states certainly will require monetary union as its basis. For the Austrian economy, participating in EMU is a necessary and logical step following its past economic policy, which will nevertheless present business and politicians alike with new challenges.

Suggested Citation

  • Helmut Kramer, 1998. "Aspects of European Economic and Monetary Union," Austrian Economic Quarterly, WIFO, vol. 3(3), pages 131-136, July.
    • Handle: RePEc:wfo:wquart:y:1998:i:3:p:131-136
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    References listed on IDEAS

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    1. Bofinger, Peter, 1994. "Is Europe an Optimum Currency Area?," CEPR Discussion Papers 915, C.E.P.R. Discussion Papers.
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    Cited by:

    1. Fritz Schebeck & Andrea Weber, 1998. "Österreichs Wirtschaft vorbereitet für die Teilnahme an der WWU. Mittelfristige Prognose der österreichischen Wirtschaft bis zum Jahr 2002," WIFO Monatsberichte (monthly reports), WIFO, vol. 71(12), pages 845-853, December.

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