What Have we Learnt about Monetary Integration since the Maastricht Treaty?*

Paul De Grauwe

Journal of Common Market Studies, 2006, vol. 44, issue 4, 711-730

Abstract: The present governance of the euro area has been devised assuming that the world fits the monetarist‐real‐business‐cycle theory. But that theory is not a correct representation of the world. The European monetary union is a remarkable achievement, but remains fragile because of the absence of a sufficient degree of political union.

Date: 2006
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https://doi.org/10.1111/j.1468-5965.2006.00659.x

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Working Paper: What have we learnt about monetary integration since the Maastricht Treaty? (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:bla:jcmkts:v:44:y:2006:i:4:p:711-730

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