The New Political Economy of Emu

by Frieden, Jeffry; Gros, Daniel; Jones, Erik; Freiden, Jeffry; Hughes Hallett, A J.; Jimeno, Juan; McAdam, Peter; Pisani-Ferry, Jean; Vinals, and Jose

• ISBN13: 9780847690190
• ISBN10: 0847690199
• Format: Paperback
• Copyright: 1998-09-03
• Publisher: Rowman & Littlefield Publishers

Summary

This clear and balanced book brings together economists and political scientists to explain why the creation of a European monetary union is so contentious, how the debate has affected the political determination to construct a monetary union, and how it will influence the functioning of EMU into the next century. Focusing on the interaction of economics and politics, the authors provide an innovative analysis of a spectrum of related issues: how EMU relates to Europe's unemployment crisis, how it will affect the process of economic adjustment, what convergence means for the performance of the member states separately, and how the member states will decide both whether to participate themselves and whom else to admit to the monetary club.

Table of Contents

List of Tables and Figures	vii
Preface	ix
EMU: Economics and Politics	1	(12)
Jeffry Frieden
Daniel Gros
Erik Jones
Monetary Union and European Unemployment	13	(40)
Jose Vinals
Juan F. Jimeno
External Shocks and Labor Mobility: How Important Are They for EMU?	53	(30)
Daniel Gros
Fiscal Deficit Reductions in Line with the Maastricht Criteria for Monetary Union: An Empirical Analysis	83	(42)
A. J. Hughes Hallett
Peter McAdam
Monetary Union with Variable Geometry	125	(38)
Jean Pisani-Ferry
The Political Economy of European Monetary Union: A Conceptual Overview	163	(24)
Jeffry Frieden
Erik Jones
A Note on Data Sources	187	(2)
References	189	(12)
Index	201	(4)
List of Editors and Contributors	205