Discussion of Chapter 9

Andrew Haldane

A chapter in From EMS to EMU: 1979 to 1999 and Beyond, 1999, pp 226-230 from Palgrave Macmillan

Abstract: Abstract The chapter by De Grauwe, Dewachter and Aksoy is neat, technically accomplished and, most of all, important. Important to the ‘ins’ — the Euro-11 countries already embarking down the monetary union road and who might want some gauge of the likely welfare costs they will incur along the way. It is important too for the ‘pre-ins’ — which would include the UK, Sweden and Denmark — considering the potential costs to participation, as and when it occurs. Finally, the chapter is also important to ‘ECB-watchers’ — those scribblers charged with monitoring and guessing the policy actions of the ECB. ECB-watching is an industry that has already grown in recent months and will doubtless grow further in future. I will come back to it below.

Keywords: Central Bank; Real Exchange Rate; Welfare Loss; Monetary Union; Welfare Cost (search for similar items in EconPapers)
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-27745-2_15

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DOI: 10.1007/978-1-349-27745-2_15

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