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The External Dimension of EMU

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  • Charles Goodhart

    (London School of Economics and Political Science)

Abstract

This paper is divided into three main sections. The first considers the implications of the Maastricht treaty for the external economic dimension, concentrating mainly on the inter-relationships between, and allocations of responsibility for, the decisions within the EC on the main policy issues, monetary policy, the exchange rate regime and fiscal policy. The second section considers the non-strategic external economic implications of EMU and the move to a single currency, the Ecu, issues such as the effects on trade finance, reserves, seigniorage and the net external demand for Ecu assets. The third section discusses how the establishment of EMU may affect the workings of the world economy, the exchange rate regime and coordination, such as it may be, among the main players.

Suggested Citation

  • Charles Goodhart, 1993. "The External Dimension of EMU," Discussion Papers (REL - Recherches Economiques de Louvain) 1993013, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    • Handle: RePEc:ctl:louvre:1993013
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    File URL: http://www.jstor.org/stable/40724012
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    Cited by:

    1. Agnès Bénassy & Alexander Italianer & Jean Pisani-Ferry, 1993. "Les implications extérieures de la monnaie unique," Économie et Statistique, Programme National Persée, vol. 262(1), pages 49-62.
    2. Pierre Faure, 2003. "Monetary and Fiscal Policy Games and Effects of Institutional Differences between the European Union and the Rest of the World," Revue économique, Presses de Sciences-Po, vol. 54(5), pages 937-959.

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