This paper argues that when EU member states joined EMU, this resulted in domestic institutional changes in the areas of fiscal policy-making and wage-setting. The paper argues that these changes were triggered by two facts: (i) in EMU, the monetary policy can no longer be used as an instrument...

[From the Introduction]. The main purpose of this paper is to consider whether fiscal policy according to EMU’s constraints is sustainable particularly in the context of high unemployment and low growth. In this respect, this paper is mainly based on previous studies which developed possible...

[From the Introduction]. With only two more years to run on the European Community's (EC) 1992 single market program, European leaders have been seeking for the last several years to develop and specify a range of extensive proposals to enhance the benefits of an integrated market. One principal...

[From the Introduction]. The main purpose of this paper is to consider whether fiscal policy according to EMU’s constraints is sustainable particularly in the context of high unemployment and low growth. In this respect, this paper is mainly based on previous studies which developed possible...

[From the Introduction]. With only two more years to run on the European Community's (EC) 1992 single market program, European leaders have been seeking for the last several years to develop and specify a range of extensive proposals to enhance the benefits of an integrated market. One principal...

This paper argues that when EU member states joined EMU, this resulted in domestic institutional changes in the areas of fiscal policy-making and wage-setting. The paper argues that these changes were triggered by two facts: (i) in EMU, the monetary policy can no longer be used as an instrument...