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European Monetary Integration

EMS Developments and International Post-Maastricht Perspectives

  • Book
  • © 1994

Overview

Editors:
  1. Paul J. J. Welfens

    1. Internationale Wirtschaft/Europäische Wirtschaftspolitik, Universität Münster, Münster, Germany
      American Institute for Contemporary German Studies (AICGS), The Johns Hopkins University, USA

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Table of contents (11 chapters)

  1. Front Matter

    Pages I-XIV
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  2. European Monetary Union: Post-Maastricht Perspectives on Monetary and Real Integration in Europe

    • Paul J. J. Welfens
    Pages 1-51

  3. The European Monetary System and European Integration: An Evaluation

    • Michael W. Klein
    Pages 53-78

  4. Basic Features of a European Monetary Order

    • Karl Otto Pöhl
    Pages 79-93

  5. Towards Monetary Union in the European Community: Why and How

    • Daniel Gros, Niels Thygesen
    Pages 95-131

  6. German Monetary Unification and European Monetary Union: Theoretical Issues and Strategic Policy Problems

    • Manfred Willms
    Pages 133-162

  7. Liberalization and Regulation in the Process of Financial Market Integration in the European Community

    • Franco Reither
    Pages 163-186

  8. Problems of European Monetary Policy Coordination in the Transition Phase

    • Peter Bofinger
    Pages 187-221

  9. Creating a European Central Bank after 1992: Issues of EC Monetary Integration and Problems of Institutional Innovation

    • Paul J. J. Welfens
    Pages 223-269

  10. Monetary and Fiscal Policy in a European Monetary Union: Some Public Choice Considerations

    • Jürgen von Hagen, Michele Fratianni
    Pages 275-305

  11. What can the Fiscal Systems in the United States and Canada Tell Us about EMU?

    • Tamim Bayoumi, Paul R. Masson
    Pages 307-334

  12. The European Community as an Optimum Currency Area

    • Stephen Overturf
    Pages 335-354

  13. Back Matter

    Pages 355-366
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Keywords

About this book

EC monetary integration was reinforced in the 1980s when macroeconomic convergence and a dominant role of the German Bundesbank created the basis for relatively stable exchange rates and increasing EC trade volumes. Reduced capital controls and rising capital mobility as well as German unification caused shifts and shocks which undermined EMS stability in a critical period - the transition to EMU in accord with the Maastricht Treaty which called for further increasing monetary integration. The analysis focuses on these issues, the EMS crisis of 1992/93, the topic of optimum currency areas and the problem of fiscal policies/regional stabilization in Europe, the US and Canada. This book gives an assessment of the EMS developments and shows how financial market liberalization as well as the EC 1992 project affect the process of economic and monetary union.

Editors and Affiliations

  • Internationale Wirtschaft/Europäische Wirtschaftspolitik, Universität Münster, Münster, Germany

    Paul J. J. Welfens

  • American Institute for Contemporary German Studies (AICGS), The Johns Hopkins University, USA

    Paul J. J. Welfens

Bibliographic Information

  • Book Title: European Monetary Integration

  • Book Subtitle: EMS Developments and International Post-Maastricht Perspectives

  • Editors: Paul J. J. Welfens

  • DOI: https://doi.org/10.1007/978-3-642-97540-0

  • Publisher: Springer Berlin, Heidelberg

  • eBook Packages: Springer Book Archive

  • Copyright Information: Springer-Verlag Berlin · Heidelberg 1994

  • eBook ISBN: 978-3-642-97540-0Published: 06 December 2012

  • Edition Number: 2

  • Number of Pages: XIV, 364

  • Topics: International Economics

  • Industry Sectors: Finance, Business & Banking

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