The Mirages of Nominal Illusion: Variations on Convergence

Jean-Paul Fitoussi and Fiorella Kostoris Padoa Schioppa

Chapter 3 in Report on the State of the European Union, 2005, pp 59-70 from Palgrave Macmillan

Abstract: Abstract The euro, the European single currency, was launched in Europe on 1 January 1999, and the subsequent Economic and Monetary Union (EMU) now comprises virtually all European Union (EU) members, namely twelve countries out of fifteen; the United Kingdom, Denmark and Sweden chose to opt out. However successful, economic policy management has never produced a perfect solution to a certain number of fundamental issues. How can a single monetary policy be made compatible with specific economic backgrounds (economic cycles, inflation); independent and yet capped fiscal policies; distinct labour markets; and different economic and social patterns?

Keywords: European Union; Euro Area; European Central Bank; Monetary Union; Nominal Interest Rate (search for similar items in EconPapers)
Date: 2005
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-00627-0_3

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230006270

DOI: 10.1057/9780230006270_3

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().