Reforming the European Monetary Union

Varadarajan Chari, Alessandro Dovis and Patrick Kehoe

No 17-3, Economic Policy Paper from Federal Reserve Bank of Minneapolis

Abstract: We offer a theoretically based narrative that attempts to account both for the formation of the European Monetary Union (EMU) and for the challenges it has faced. Lack of commitment to policy plays a central role in this narrative and leads to four policy implications for EMU redesign.

Pages: 6 pages
Date: 2017-05-08
New Economics Papers: this item is included in nep-cba, nep-mon and nep-opm
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