Accession to a Monetary Union

Joseph Plasmans, Jacob Engwerda, Bas van Aarle, Giovanni Di Bartolomeo () and Tomasz Michalak
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Joseph Plasmans: University of Antwerp, Belgium and Tilburg University
Tomasz Michalak: University of Antwerp

A chapter in Dynamic Modeling of Monetary and Fiscal Cooperation Among Nations, 2006, pp 229-271 from Springer

Abstract: In Chapter 6 the multi-country MU setting was analyzed. It was shown that many basic insights of the 2-country MU model of Chapters 3 and 4 carry over to a multi-country setting and that at the same time a multi-country MU features many new issues. These new issues were, in particular, related to the strongly increased number of interactions and economic externalities and the more complicated patterns in policy coordination due to the numerous opportunities of coalition formation. However, Chapter 6 did not address the questions why and when countries decide to participate (or not to participate) in an MU. Yet, this question seems of crucial importance in understanding the actual design and functioning of MUs.

Keywords: Monetary Policy; Central Bank; Coalition Formation; Monetary Union; Coalition Structure (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:spr:dymchp:978-0-387-27931-2_7

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DOI: 10.1007/0-387-27931-8_7

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