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This paper studies the interactions between monetary and fiscal policies in the euro area. It carefully discusses the process of policy competition and the structure of policy cooperation. As to policy competition, the focus is on competition between the European central bank, the American...
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When I wrote my book on EMU four years ago (Kenen 1995), very little had been written on the international dimensions … of EMU. There was a chapter in the Commission's path-breaking study (European Commission, 1990). There were papers by … least to be controversial - to suggest that EMU will not dramatically alter the economic environment aor lead, as some …
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