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The euro: It can't happen, It's a bad idea, It won't last. US economists on the EMU, 1989-2002

Lars Jonung () and Eoin Drea ()

No 395, European Economy - Economic Papers 2008 - 2015 from Directorate General Economic and Financial Affairs (DG ECFIN), European Commission

Abstract: This study of approximately 170 publications shows (a) that US academic economists concentrated on the question "Is the EMU a good or bad thing?", usually adopting the paradigm of optimum currency areas as their main analytical vehicle, (b) that they displayed considerable scepticism towards the single currency, (c) that economists within the Federal Reserve System had a less analytical and a more pragmatic approach to the single currency than US academic economists, and (e) that US economists adjusted their views and analytical approach as European monetary unification progressed. In particular, the traditional optimum currency approach was gradually put into question.

Keywords: The euro; optimum currency area; ECB; EMU; Federal Reserve System; monetary unification; Europe; United States; Jonung; Drea (search for similar items in EconPapers)
JEL-codes: B22 E42 E5 F02 F33 F41 (search for similar items in EconPapers)
Pages: 56 pages
Date: 2009-12
New Economics Papers: this item is included in nep-cba, nep-eec, nep-his, nep-hpe, nep-ifn and nep-mon
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Persistent link: https://EconPapers.repec.org/RePEc:euf:ecopap:0395

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