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The euro was adopted as legal tender, albeit in a virtual form, by 11 countries of the European Union on January 1, 1999, with the intention that notes and coins denominated in euros would be introduced and the national currencies would be phased out during the first six months of that year and...
Persistent link: https://www.econbiz.de/10014177152
This paper proposes an alternative stability and growth pact among European Union (EU) governments that would underpin … the introduction of a single currency and a "single market" within the EU. The alternative pact embraces a number of new … aspects of integration within the EU that are based on a different monetary analysis (different from that of "new monetarism …
Persistent link: https://www.econbiz.de/10014162532
This paper proposes an alternative stability and growth pact to the one which accompanied the introduction of the euro in January 1999. The latter is part of the third stage of economic and monetary union and, will govern the economic policies of the member countries which have joined the single...
Persistent link: https://www.econbiz.de/10014140127
Over the course of the 1990s, the US outperformed Europe not only in output growth, but also in productivity and employment generation, thereby stopping Europe's decade-long period of catching up. The author shows that the growth difference originates at least partly from insufficient investment...
Persistent link: https://www.econbiz.de/10014071644
This paper presents two issues: First, an effort to decipher the type of economic analysis and macroeconomic policies of the Economic and Monetary Union (EMU) theoretical and policy framework, which we suggest are essentially of the "new consensus" variety; Second, an argument that the...
Persistent link: https://www.econbiz.de/10014075655
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This book focuses on the construction of the economic policies of the Economic and Monetary Union (EMU) and its institutions. It reviews the faltering economic performance of the EMU countries before and after the onset of the financial crisis.
Persistent link: https://www.econbiz.de/10014484826
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