The Theory and Practice of Economic Governance in EMU Revisited: What Have we Learnt About Commitment and Credibility?*

Waltraud Schelkle

Journal of Common Market Studies, 2006, vol. 44, issue 4, 669-685

Abstract: This special issue asks commentators who made seminal contributions to our understanding of economic governance to revisit their analyses. This introductory article discusses the example of a major contribution, namely the ‘advantage of tying one's hands' (Giavazzi and Pagano, 1988), relating it to the other contributions along the way.

Date: 2006
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