What Have We Learnt about Monetary Integration since the Maastricht Treaty?

Paul De Grauwe

Chapter 11 in Exchange Rates and Global Financial Policies, 2014, pp 273-296 from World Scientific Publishing Co. Pte. Ltd.

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.

Keywords: Exchange Rate; Financial Policies; Turbulence; Exchange Market; Motenary Union; Macroeconomics; Economic Models; Behaviorial Economics; Monetary Integration; Euro; Financial Crisis; European Monetary Policy; Dynamic Stochastic General Equilibriumauthor (search for similar items in EconPapers)
Date: 2014
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Related works:
Working Paper: What have we learnt about monetary integration since the Maastricht Treaty? (2008)
Journal Article: What Have we Learnt about Monetary Integration since the Maastricht Treaty?* (2006)
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