EMU Convergence and Fiscal Policy

Mark Baimbridge, Jeffrey Harrop and George Philippidis
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Jeffrey Harrop: University of Bradford
George Philippidis: University of Bradford

Chapter 6 in Current Economic Issues in EU Integration, 2004, pp 99-117 from Palgrave Macmillan

Abstract: Abstract Most academic social science literature either accepts that closer European Union (EU) integration is desirable, or more usually, given the political will of EU leaders that it is inevitable. Therefore economists, political scientists and sociologists frequently devote their research to the dynamics of Economic and Monetary Union (EMU), the political institutions fostering ‘ever closer union’ and the social implications of these momentous changes. However, whilst such detailed analyses generate important policy proposals, they tend by their weight to smother the crucial strategic issue: is EMU beneficial or not, for the EU as a whole? The purpose of this chapter is to analyse this issue. More specifically, it seeks to evaluate the criteria which have been advanced by different authorities to assess whether or not membership of the single currency would prove beneficial.

Keywords: Exchange Rate; European Union; Fiscal Policy; Real Exchange Rate; Monetary Union (search for similar items in EconPapers)
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-59816-4_6

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DOI: 10.1057/9780230598164_6

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