IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/88998.html
   My bibliography  Save this paper

Implications of EMU for the European Community

Author

Listed:
  • Kirrane, Chris

Abstract

The paper includes three parts. The first concerns the economic foundations of monetary union and the costs it entails. The second is devoted to the institutional arrangements under the Treaty of Maastricht. The third examines the consequences of monetary union for the economy and the economic policy of France.

Suggested Citation

  • Kirrane, Chris, 1994. "Implications of EMU for the European Community," MPRA Paper 88998, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:88998
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/88998/1/MPRA_paper_88998.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Barro, Robert J. & Gordon, David B., 1983. "Rules, discretion and reputation in a model of monetary policy," Journal of Monetary Economics, Elsevier, vol. 12(1), pages 101-121.
    2. Bayoumi, Tamim & Eichengreen, Barry, 1992. "Shocking Aspects of Monetary Unification," Department of Economics, Working Paper Series qt791143kp, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    3. Feldstein, Martin & Horioka, Charles, 1980. "Domestic Saving and International Capital Flows," Economic Journal, Royal Economic Society, vol. 90(358), pages 314-329, June.
    4. Peter B. Kenen, 1993. "EMU, Exchange Rates and the International Monetary System," Discussion Papers (REL - Recherches Economiques de Louvain) 1993022, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    5. Paul Masson & Jacques Melitz, 1991. "Fiscal policy independence in a European Monetary Union," Open Economies Review, Springer, vol. 2(2), pages 113-136, June.
    6. Weber, Axel A, 1990. "EMU and Asymmetries and Adjustment Problems in the EMS," CEPR Discussion Papers 448, C.E.P.R. Discussion Papers.
    7. Melitz, Jacques & Vori, Silvia, 1992. "National Insurance Against Unevenly Distributed Shocks in a European Monetary Union," CEPR Discussion Papers 697, C.E.P.R. Discussion Papers.
    8. Marston, Richard C., 1985. "Stabilization policies in open economies," Handbook of International Economics, in: R. W. Jones & P. B. Kenen (ed.), Handbook of International Economics, edition 1, volume 2, chapter 17, pages 859-916, Elsevier.
    9. Cukierman, Alex & Webb, Steven B & Neyapti, Bilin, 1992. "Measuring the Independence of Central Banks and Its Effect on Policy Outcomes," The World Bank Economic Review, World Bank, vol. 6(3), pages 353-398, September.
    10. Laskar, Daniel, 1993. "The role of a fixed exchange rate system when central bankers are independent," Journal of International Money and Finance, Elsevier, vol. 12(3), pages 319-331, June.
    11. Tamim Bayoumi & Barry Eichengreen, 1992. "Shocking Aspects of European Monetary Unification," NBER Working Papers 3949, National Bureau of Economic Research, Inc.
    12. Mussa, Michael, 1986. "Nominal exchange rate regimes and the behavior of real exchange rates: Evidence and implications," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 25(1), pages 117-214, January.
    13. repec:fth:harver:1496 is not listed on IDEAS
    14. Maurice Obstfeld, 1988. "Competitiveness, Realignment, and Speculation: The Role of Financial Markets," NBER Working Papers 2539, National Bureau of Economic Research, Inc.
    15. De Grauwe, Paul, 1992. "Inflation Convergence During the Transition to EMU," CEPR Discussion Papers 658, C.E.P.R. Discussion Papers.
    16. Canzoneri,Matthew B. & Grilli,Vittorio & Masson,Paul R. (ed.), 1992. "Establishing a Central Bank," Cambridge Books, Cambridge University Press, number 9780521420983, September.
    17. Rogoff, Kenneth, 1985. "Can international monetary policy cooperation be counterproductive?," Journal of International Economics, Elsevier, vol. 18(3-4), pages 199-217, May.
    18. Xavier Sala-i-Martin & Jeffrey Sachs, 1991. "Fiscal Federalism and Optimum Currency Areas: Evidence for Europe From the United States," NBER Working Papers 3855, National Bureau of Economic Research, Inc.
    19. Sapir, Andre & Sekkat, Khalid, 1995. "Exchange rate regimes and trade prices Does the EMS matter?," Journal of International Economics, Elsevier, vol. 38(1-2), pages 75-94, February.
    20. Eichengreen, B., 1992. "Should the Maastricht Treaty be Saved?," Princeton Studies in International Economics 74, International Economics Section, Departement of Economics Princeton University,.
    21. Cohen, Daniel & Wyplosz, Charles, 1989. "The European Monetary Union: An Agnostic Evaluation," CEPR Discussion Papers 306, C.E.P.R. Discussion Papers.
    22. Kydland, Finn E & Prescott, Edward C, 1977. "Rules Rather Than Discretion: The Inconsistency of Optimal Plans," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 473-491, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Fournier, Jacques, 1995. "EMU and France," MPRA Paper 90410, University Library of Munich, Germany.
    2. Peters, Theo, 1997. "Stability in EMU," MPRA Paper 91713, University Library of Munich, Germany.
    3. Dusberg, Carl, 1997. "CAP and Monetary Policy," MPRA Paper 89234, University Library of Munich, Germany.
    4. Lefebvre, Dominique, 1997. "Euro Internationalization," MPRA Paper 89353, University Library of Munich, Germany.
    5. Braun, Dieter, 1995. "Bank Deposit Insurance and EMU," MPRA Paper 89588, University Library of Munich, Germany.
    6. Theo Peeters, 2018. "Stability in EMU," Papers 1807.07730, arXiv.org.
    7. Kirrane, Chris, 1999. "The Effects of Introducing the Euro on Southern Mediterranean Countries," MPRA Paper 93421, University Library of Munich, Germany.
    8. Yannis, Athena, 1996. "Fiscal Federalism and EMU," MPRA Paper 90306, University Library of Munich, Germany.
    9. Chris Kirrane, 2018. "The Bretton Woods Experience and ERM," Papers 1807.00418, arXiv.org.
    10. Kirrane, Chris, 2003. "The IMS and the Euro," MPRA Paper 88751, University Library of Munich, Germany.
    11. Kirrane, Chris, 1995. "The Bretton Woods Experience and ERM," MPRA Paper 89000, University Library of Munich, Germany.
    12. Garcia, Isabella, 1997. "Spain and EMU," MPRA Paper 89494, University Library of Munich, Germany.
    13. Carl Duisberg, 2018. "CAP and Monetary Policy," Papers 1807.09475, arXiv.org.
    14. Leandros, Panayota, 1997. "The Greek Economy and European Integration," MPRA Paper 93279, University Library of Munich, Germany.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Chris Kirrane, 2018. "Implications of EMU for the European Community," Papers 1805.12113, arXiv.org.
    2. Jean Pisani-Ferry & Claude Bismut, 1993. "L'union économique et monétaire : principes et implications," Revue Économique, Programme National Persée, vol. 44(1), pages 121-142.
    3. Schor, Armand-Denis, 2000. "La théorie des zones monétaires optimales : l’optimum, le praticable, le crédible et le réel," L'Actualité Economique, Société Canadienne de Science Economique, vol. 76(4), pages 545-576, décembre.
    4. Frankel, J-A & Rose, A-K, 1996. "Economic Structure and the Decision to Adopt a Common Currency," Papers 611, Stockholm - International Economic Studies.
    5. David Hargreaves & C John McDermott, 1999. "Issues relating to optimal currency areas: theory and implications for New Zealand," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 62, September.
    6. Karras, Georgios & Stokes, Houston H., 2001. "Time-varying criteria for monetary integration: evidence from the EMU," International Review of Economics & Finance, Elsevier, vol. 10(2), pages 171-185.
    7. Barry Eichengreen., 1993. "International Monetary Arrangements for the 21st Century," Center for International and Development Economics Research (CIDER) Working Papers C93-021, University of California at Berkeley.
    8. Raúl Ramos & Miquel Clar & Jordi Suriñach, 1999. "Specialisation in Europe and Asymmetric Shocks: Potential Risks of EMU," Advances in Spatial Science, in: Manfred M. Fischer & Peter Nijkamp (ed.), Spatial Dynamics of European Integration, chapter 4, pages 63-93, Springer.
    9. Kalemli-Ozcan, Sebnem & Sørensen, Bent E & Yosha, Oved, 2004. "Asymmetric Shocks and Risk Sharing in a Monetary Union: Updated Evidence and Policy Implications for Europe," CEPR Discussion Papers 4463, C.E.P.R. Discussion Papers.
    10. George Tavlas, 1994. "The theory of monetary integration," Open Economies Review, Springer, vol. 5(2), pages 211-230, March.
    11. Juan Luís Ollero & Raul Ramos & Jordi Suriñach-Caralt, 2001. "Macroeconomic implications of EMU at the regional level," ERSA conference papers ersa01p146, European Regional Science Association.
    12. Rita De Siano & Marcella D'Uva & Giovanna Messina, 1999. "Aree Monetarie Ottimali: Literature Review," Working Papers 2_1999, D.E.S. (Department of Economic Studies), University of Naples "Parthenope", Italy.
    13. Bordo, Michael D. & Jonung, Lars, 1994. "Monetary Regimes, Inflation and Monetary Reform: An Essay in Honor of Axel Leijonhufvud," SSE/EFI Working Paper Series in Economics and Finance 16, Stockholm School of Economics.
    14. Igor Velickovski, 2013. "Assessing independent monetary policy in small, open and euroized countries: evidence from Western Balkan," Empirical Economics, Springer, vol. 45(1), pages 137-156, August.
    15. Lionel Fontagné & Christophe Deissenberg, 1997. "Présentation générale," Économie et Prévision, Programme National Persée, vol. 128(2), pages 1-14.
    16. Jääskelä, Jarkko, 1997. "Incomplete insurance market and its policy implication within European Monetary Union," Research Discussion Papers 8/1997, Bank of Finland.
    17. Daniel Laskar, 1993. "Union monétaire : différences structurelles et asymétrie des chocs," Revue Économique, Programme National Persée, vol. 44(6), pages 1045-1070.
    18. Persson, Torsten & Tabellini, Guido, 1999. "Political economics and macroeconomic policy," Handbook of Macroeconomics, in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 22, pages 1397-1482, Elsevier.
    19. repec:spo:wpecon:info:hdl:2441/2943 is not listed on IDEAS
    20. repec:spo:wpmain:info:hdl:2441/2943 is not listed on IDEAS
    21. van der Ploeg, F., 1990. "Budgetary aspects of economic and monetary integration in Europe," Other publications TiSEM 97425e8a-e040-4214-baf3-c, Tilburg University, School of Economics and Management.
    22. J.M.C. Santos Silva & Silvana Tenreyro, 2010. "Currency Unions in Prospect and Retrospect," Annual Review of Economics, Annual Reviews, vol. 2(1), pages 51-74, September.

    More about this item

    Keywords

    EMU;

    JEL classification:

    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:88998. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.