Abstract
Standard lectures on costs and benefits of EMU cannot avoid touching upon the issue of whether the adoption of a single European currency, with the related loss of the exchange rate tool, has modified the competitiveness of the euro-area member states and in which way. Optimum currency area (OCA) and sustainable currency area (SCA) theories deal precisely with this question (see Chapters 1 and 3). This chapter addresses the problem of European competitiveness from a political science perspective focusing on the way in which the main socio-economic sectors within the most important EU member states have used the process of European monetary integration to enhance their competitive position not only in the European arena, but also in the global context.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Artis, M. (1998), ‘The unemployment problem’, Oxford Review of Economic Policy, 14(3).
Artis, M. (2003), ‘EMU: four years on’, EUI: unpublished manuscript.
Artis, M. and Winkler, B. (1997), ‘The stability pact: safeguarding the credibility of the European Central Bank’, CEPR Discussion Paper, no. 1688.
Berger, H., de Haan, J. and Eijffinger, S. (2000), ‘Central bank independence: an update of theory and evidence’, CEPR Discussion Paper, no. 2353.
Blanchard, O.J. (1998), Discussion of’Regional non-adjustment and fiscal policy’, Economic Policy, 26 (April): 249.
Boyer, R. (2000), ‘The unanticipated fall out of the European Monetary Union: the political and institutional deficit of the euro’, in C. Crouch (ed.), After the Euro: Shaping Institutions for Governance in the Wake of European Monetary Union, Oxford: Oxford University Press.
Buti, M., Franco, D. and Ongena, H. (1997), ‘Budgetary policies during recessions: retrospective application of the Stability and Growth Pact to the post-war period’, Economic Paper, no 121, Brussels: European Commission.
Cameron, D. (1997), ‘Economic and monetary union: underlying imperatives and third-stage dilemmas’, Journal of European Public Policy, 4: 455–85.
Cameron, D. (1998), ‘EMU after 1999: the implications and dilemmas of the third stage’, Columbia Journal of European Law, 4: 425–46.
Cameron, D. (1999), ‘Unemployment in the new Europe: the contours of the problem’, EUI Working Papers, RSC, no. 99/35.
CEPR (2000), One Money, Many Countries: Monitoring the European Central Bank 2, London: CEPR.
CEPR (2002), Surviving the Slow-down, Monitoring the European Central Bank 4, London: CEPR.
Crouch, C. (1994), ‘Incomes policies, institutions and markets: an overview of recent developments’, in R. Dore, R. Boyer and Z. Mars (eds), The Return to Incomes Policies, London: Pinter.
Crouch, C. (2002), ‘The euro, labour markets and wage policies’, in K. Dyson (ed.), European States and theEuro, Oxford: Oxford University Press.
Cukierman, A., Webb, S. B. and Neyapti, B. (1992), ‘Measuring the independence of central banks and its effects on policy outcomes’, World Bank Review, 6: 353–98.
Dyson, K. (2002), ‘Germany and the euro: redefining EMU, handling paradox and managing uncertainty and contingency’, in K. Dyson (ed), European States and the Euro, Oxford: Oxford University Press.
Eichengreen, B. and Wyplosz, C. (1998), ‘The Stability Pact: more than a minor nuisance?’ Economic Policy, 26 (April).
Gros, D. and Thygesen, N. (1998), European Monetary Integration, London: Longman.
Howarth, D. (2002), ‘The French state in the euro-zone: modernization and legitimising dirigisme’, in K. Dyson (ed), European States and theEuro, Oxford: Oxford University Press.
Koen, V. (2000), ‘EMU: one year on’, OECD Observer, March, Paris: OECD.
Marsden, D. (1992), ‘Incomes policy for Europe? Or will pay bargaining destroy the single European market?’, British Journal of Industrial Relations, 30: 587–604.
Moravcsik, A. (1998) The Choice for Europe: Social Purpose and State Power from Messina to Maastricht, Ithaca, NY: Cornell University Press.
Nickell, S. (1997), ‘Unemployment and labour market rigidities: Europe vs North America’, Journal of Economic Perspectives, 11: 55–74.
Obstfeld, M. and Peri, G. (1998), ‘Regional non-adjustment and fiscal policy’, Economic Policy, 26 (April).
Overbeek, H. (ed.) (2003), The Political Economy of European Unemployment, London: Routledge.
Parker, G. (2003), ‘Europe’s Stability Pact: ministers conduct late-night burial for EU fiscal framework’, Financial Times, 26 November.
Pochet, P. (1998), ‘The social consequences of EMU: an overview of national debates’, in P. Pochet and B. Vanhercke (eds), Social Challenges of Economic and Monetary Union, Brussels: European Interuniversity Press.
Rhodes, M. (1997), ‘Globalisation, labour markets and welfare states: a future of “competitive corporatism?”’, EUI Working Papers, no. 97/36.
Rhodes, M. (2002), ‘Why EMU is, or may be, good for European welfare states’, in K. Dyson (ed), European States and the Euro, Oxford: Oxford University Press.
Streeck, W. (1994), ‘Pay restraints without incomes policies’, in R. Dore, R. Boyer and Z. Mars (eds), The Return to Incomes Policies, London: Pinter.
Talani, L. S. (2005), ‘The European Central Bank: between growth and stability’, Comparative European Politics, 3: 204–31.
Talani L. S. (2008), ‘The Maastricht way to the European Employment Strategy’, in S. Baroncelli, C. Spagnolo and L. S. Talani, Back to Maastricht, CSP.
Talani, L. S. and Casey, B. (2008), Between Growth and Stability: the Demise and Reform of the Stability and Growth Pact, Cheltenham: Edward Elgar.
Tsoukalis, L. (1997), The New European Economy Revisited, Oxford: Oxford University Press.
Editor information
Editors and Affiliations
Copyright information
© 2009 Leila Simona Talani
About this chapter
Cite this chapter
Talani, L.S. (2009). EMU and the Quest for Competitiveness. In: Talani, L.S. (eds) The Future of EMU. Palgrave Macmillan, London. https://doi.org/10.1057/9780230233898_8
Download citation
DOI: https://doi.org/10.1057/9780230233898_8
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-30439-4
Online ISBN: 978-0-230-23389-8
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)