This paper seeks to explain the variance between success and failure of attempts to achieve monetary cooperation and integration in Western Europe. In its first two sections the paper develops six assumptions about international monetary behavior of states and the conditions for monetary...

[From the Introduction]. On March 13, 1991, the European Monetary System (EMS) celebrated its twelfth birthday with a sense that the system, originally launched by French President Valery Giscard d'Estaing and West German Chancellor Helmut Schmidt, had progressed much further toward...

The aim of this paper is to discuss the issue of monetary policy coordination in a framework where partners differ not because of idiosyncratic shocks but because of structural asymmetries affecting the conduct of national economic policies. These are introduced at the level of the country size...

The paper analyses the position of Croatia in the process of European monetary integration. Adjustment to the European monetary policy is seen as a precondition for inclusion in the wider process of integration in Europe. In the background of the incomplete monetary union which will be created...

It is nearly impossible to fully understand the developments and problems of European economic and monetary integration without examining its historical and political background. European monetary integration has at times been propelled, at times been hindered by political motives and...

In this paper 1 consider a revision of the IMF's Special Drawing Rights (SDR) that may result from the adoption of the' European Currency Unit (ECU) by the European community in their program of Monetary Union. I develop data representing the monthly average exchange value for this new basket I...

Economic and monetary union (EMU) is, undoubtedly, a unique and bold experiment. Although the introduction of the euro went well, the economic management of the EU as a whole, and the euro area in particular, has been subject to growing criticism (see, for example, Pisani-Ferry, 2002). Today,...

It is nearly impossible to fully understand the developments and problems of European economic and monetary integration without examining its historical and political background. European monetary integration has at times been propelled, at times been hindered by political motives and...

In this paper 1 consider a revision of the IMF's Special Drawing Rights (SDR) that may result from the adoption of the' European Currency Unit (ECU) by the European community in their program of Monetary Union. I develop data representing the monthly average exchange value for this new basket I...

Economic and monetary union (EMU) is, undoubtedly, a unique and bold experiment. Although the introduction of the euro went well, the economic management of the EU as a whole, and the euro area in particular, has been subject to growing criticism (see, for example, Pisani-Ferry, 2002). Today,...