What Have we Learnt about Monetary Integration since the Maastricht Treaty?
The present governance of the euro area has been devised assuming that the world fits the monetarist-real-business-cycle theory. But that theory is not a correct representation of the world. The European monetary union is a remarkable achievement, but remains fragile because of the absence of a sufficient degree of political union. Copyright 2006 Blackwell Publishing Ltd.
Year of publication: |
2006
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Authors: | GRAUWE, PAUL DE |
Published in: |
Journal of Common Market Studies. - Wiley Blackwell, ISSN 0021-9886. - Vol. 44.2006, 11, p. 711-730
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Publisher: |
Wiley Blackwell |
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