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European economic and monetary integration, prior to the creation of the European Communities

In: The European Monetary Union in a Public Choice Perspective

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Abstract

The future of European Monetary Union (EMU) stands as one of the most important economic issues of the era. The author argues that in the event of macroeconomic shocks, rather than acting as a cohesive force, EMU could give rise to disunity. As EMU is not an optimal currency area, asymmetric shocks affecting each country differently could be critical to its future.

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  • ., 2002. "European economic and monetary integration, prior to the creation of the European Communities," Chapters, in: The European Monetary Union in a Public Choice Perspective, chapter 2, pages 5-32, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:2276_2
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