Abstract
It is important to keep in mind that EMU stands for Economic and Monetary Union and not just monetary union. With monetary union scheduled to take effect by 1999 at the latest, the European economies will increasingly find that it is the general monetary-fiscal policy mix, and not monetary policy alone, which will become the dominant influence over income levels and the distribution of wealth between nations.
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Hughes-Hallet, A., Scott, A. (1993). The Fiscal Policy Dilemmas of Monetary Union. In: Coffey, P. (eds) Main Economic Policy Areas of the EC - After 1992. International Studies in Economics and Econometrics, vol 30. Springer, Dordrecht. https://doi.org/10.1007/978-94-011-1966-5_3
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DOI: https://doi.org/10.1007/978-94-011-1966-5_3
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