European Monetary Unification and International Monetary Cooperation

Barry Eichengreen and Fabio Ghironi.
Authors registered in the RePEc Author Service: Barry Eichengreen and Fabio Ghironi

No C97-091, Center for International and Development Economics Research (CIDER) Working Papers from University of California at Berkeley

Abstract: In this paper we describe some of the opportunities and perils for international monetary cooperation associated with EMU. Our approach brings together two strands in the literature; one concerned with institutions, the other focusing on policy consensus. Our analysis raises questions about the scope for monetary cooperation in Europe and across the Atlantic. While institutional and intellectual support for monetary-policy coordination within Europe will be further strengthened in Stage III of the transition to EMU, a limitation of that framework concerns relations between the "ins" and the "outs" -- between member states that will and that will not be founding members of the monetary union. While this problem can be remedied, it presently looms as the principal threat to monetary cohesion in Europe and to the broader program of economic and political integration with which the EMU project is linked. By comparison, institutional and intellectual support for transatlantic monetary cooperation, and for G-7 monetary cooperation more generally, remains deficient. The advent of Stage III will only highlight these limitations.

Date: 1997-06-01
References: Add references at CitEc
Citations: View citations in EconPapers (2)

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

Related works:
Working Paper: European Monetary Unification and International Monetary Cooperation (1998)
Working Paper: European Monetary Unification and International Monetary Cooperation (1997)
Working Paper: European Monetary Unification and International Monetary Cooperation (1997)
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:ucb:calbcd:c97-091

Ordering information: This working paper can be ordered from
IBER, F502 Haas Building, University of California at Berkeley, Berkeley CA 94720-1922

Access Statistics for this paper

More papers in Center for International and Development Economics Research (CIDER) Working Papers from University of California at Berkeley University of California at Berkeley, Berkeley, CA USA. Contact information at EDIRC.
Bibliographic data for series maintained by Christopher F. Baum ().