In a little over one year, Economic and Monetary Union (EMU) will enter its third and final phase. As the date of 1st January 1999 approaches, the debate over European monetary unification is accelerating. The time has come, therefore, to shift our attention from the legal and technical issues...

In a little over one year, Economic and Monetary Union (EMU) will enter its third and final phase. As the date of 1st January 1999 approaches, the debate over European monetary unification is accelerating. The purpose of the present paper is to review and assess the recent debate. This review is...

Though it is generally accepted that the introduction of the euro is a business issue, its impact on information technology (IT) is tremendous. Since the mutual dependency of business and IT is crucial and undeniable, company management must consider both the business and IT aspects of euro...

This edition presents, as a double number, two interrelated reports on preparatory aspects of the introduction of the euro.

Several studies have documented the weak response of regional wages differentials and labour mobility following region-specific ("idiosyncratic") shocks in the average of the EU countries. This has been often taken as evidence of the rigidity of labour markets in European countries, as opposed...

Article 106 (ex 105 a) of the Treaty establishing the European Community maintains the historical tradition separating the issue of banknotes, for which the Central Bank is competent, and the issue of coins, which is the responsibility of the finance ministries. It is therefore for the European...

Economic research paper on EMU and open economy macroeconomics The paper uses a 3-region version (small open economy in EMU, other euro area, rest of the world) of QUEST to assess the impact of structural reforms on external positions along two dimensions, namely the impact of flexibility and...

The paper uses the European Commission's QUEST III model to compare the impact of product market reform, labour market re-form and fiscal devaluation on economic activity and external accounts in infinite-horizon and finite-horizon versions of the model for a small open economy in monetary union...

Some researchers have recently introduced productive government investment spending into Dynamic stochastic general equilibrium (DSGE) models, adding a supply channel. This paper takes a similar perspective but it also introduces the government consumption good into the household utility...

This study of approximately 170 publications shows (a) that US academic economists concentrated on the question "Is the EMU a good or bad thing?", usually adopting the paradigm of optimum currency areas as their main analytical vehicle, (b) that they displayed considerable scepticism towards the...