The UK and EMU

Michael Artis

Chapter 7 in From EMS to EMU: 1979 to 1999 and Beyond, 1999, pp 161-180 from Palgrave Macmillan

Abstract: Abstract What is the proper role of an economist in a debate about such a politically charged decision as that of the potential entry of the UK into EMU? Fortunately economics itself provides a discipline-neutral framework of analysis in the form of the cost-benefit approach. That approach allows ‘non-economic’ factors to be admitted. If, as many probably think, the balance of purely economic factors is negative or uncertain, it may still be quite reasonable to see positive political benefits justifying entry. It still remains important to examine the economic factors carefully and to think of ways in which costs can be minimised.

Keywords: Exchange Rate; Monetary Policy; Business Cycle; Fiscal Policy; Real Exchange Rate (search for similar items in EconPapers)
Date: 1999
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Working Paper: The UK and the EMU (2000)
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DOI: 10.1007/978-1-349-27745-2_10

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