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Tuesday, October 6, 2020 | History

2 edition of On the feasibility of a one or multi-speed European monetary union found in the catalog.

On the feasibility of a one or multi-speed European monetary union

Alberto Alesina

On the feasibility of a one or multi-speed European monetary union

by Alberto Alesina

  • 187 Want to read
  • 38 Currently reading

Published by National Bureau of Economic Research in Cambridge, MA .
Written in English

    Subjects:
  • European Monetary System (Organization).,
  • Monetary unions -- Econometric models.,
  • Money -- Europe -- Econometric models.,
  • Europe -- Economic integration -- Econometric models.

  • Edition Notes

    StatementAlberto Alesina, Vittorio Grilli.
    SeriesNBER working paper series -- working paper no. 4350, Working paper series (National Bureau of Economic Research) -- working paper no. 4350.
    ContributionsGrilli, Vittorio., National Bureau of Economic Research.
    The Physical Object
    Pagination30, [8] p. :
    Number of Pages30
    ID Numbers
    Open LibraryOL22439476M

    European Monetary Union: An Old Keynesian Guide to the Issues Abstract This paper adopts an Old Keynesian perspective to evaluate EMU. Such a perspective raises concerns with the effectiveness of monetary policy, the feasibility of monetary policy, and the political economy of monetary policy.   The introductory essay, "The Political Economy of European Monetary Unification," by Eichengreen and Frieden, is the best of the nine chapters. This chapter rightly argues that European monetary unification is both an economic and a political phenomenon and presents an extended review of the relevant literature.

      This book sheds light on the controversy by considering seven major aspects: (1) what the theory of optimum currency areas reveals about the EMU project, (2) how Europe compares with existing monetary unions such as the United States, (3) the crisis in the European monetary system and the feasibility of stabilizing exchange rates in the absence Author: Barry Eichengreen. The European monetary union was clearly facing then an existential crisis. The ECB is the central bank of all member countries, and used the legal powers foreseen in its Statutes to combat the financial fragmentation that was impairing the transmission of the single monetary policy to .

      Such a division would not be in the interest of those who are allowed in the monetary union, let alone of those who are left out. References Alesina. A. and V. Grit)i, , On the feasibility of a one or multi-speed European Monetary Union, Working paper no. (NBER. Cambridge. MA) Apri). Barro. R. and R. Gordon, i Europe issues and prospects for the financial markets: The European central bank: reshaping monetary politics in Europe: European macroeconomics: Exchange rates and seigniorage: On the feasibility of a one or multi-speed European monetary union: The political economy of .


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On the feasibility of a one or multi-speed European monetary union by Alberto Alesina Download PDF EPUB FB2

On the Feasibility of a One or Multi-Speed European Monetary Union Alberto Alesina, Vittorio Grilli. NBER Working Paper No. Issued in April NBER Program(s):International Finance and Macroeconomics This paper addresses two questions: (1) Is a twelve country monetary union in Europe feasible; (2) Can monetary union be achieved at multi-speed, i.e., with a rust group of countries Cited by: Additional Physical Format: Online version: Alesina, Alberto.

On the feasibility of a one or multi-speed European monetary union. Cambridge, MA: National Bureau of Economic Research, []. Alesina, Alberto, and Vittorio Grilli.

“On the Feasibility of a One-Speed or a Multi-Speed European Monetary Union.” Economics and Politics 5: Cited by: On the Feasibility of a One or Multi-Speed European Monetary Union. [Alberto Alesina; Vittorio Grilli; National Bureau of Economic Research.] -- Abstract: This paper addresses two questions: (1) Is a twelve country monetary union in Europe feasible; (2) Can monetary union be achieved at multi-speed, i.e., with a rust group of countries going.

Downloadable. This paper addresses two questions: (1) Is a twelve country monetary union in Europe feasible; (2) Can monetary union be achieved at multi-speed, i.e., with a rust group of countries going first, and later admitting the others.

After examining several politico-economic arguments concerning problems of feasibility of the union, we conclude with a fair amount of skepticism. Downloadable (with restrictions). This paper addresses two questions: (1) Is a twelve-country monetary union in Europe feasible.

(2) Can monetary union be achieved in stages, i.e. with an initial group of countries going first, and later admitting the others. After examining several politico-economic arguments concerning problems of feasibility of the union, we conclude with a fair amount of.

(2) Can monetary union be achieved in stages, i.e. with an initial group of countries going first, and later admitting the others. After examining several politico-economic arguments concerning problems of feasibility of the union, we conclude with a fair amount of scepticism concerning the multi-speed idea.

On the feasibility of a one- or-multi speed European monetary union by Alberto Alesina. First published inFiscal policy, Income distribution, Accessible book, Economic conditions, Government policyPolitics and government, Economic integration, European Union, Monetary unions, Budget, Budget deficits, Elections.

to maintain a monetary union over time. Two of the more specialized entries are "On the Feasibility of a One-Speed or Multi-Speed European Monetary Union," by Alberto Alesina and Vittorio Grilli, and "The Transition to European Monetary Union and the European Monetary Institute," by Jurgen von Hagen and Michele Fratianni.

Alesina, A. and Grilli, V. () ‘On the Feasibility of a One-Speed or Multi-Speed European Monetary Union’, Economics and Politics, vol.

5, pp. – CrossRef Google Scholar. Alesina, A., and V. Grilli, "On the Feasibility of a One or Multi-Speed European Monetary Union," NBER Working PaperApril Barro, R., and D. Gordon, "A Positive Theory of Monetary Policy in a Natural Rate Model," Journal of Political Economy, Benefits, Costs, and Feasibility of a Monetary Union for the.

Posted on Author jibog. Europe at a crossroad from currency union to political and. Alesina A., Grilli V. [], On the Feasibility of a One OR Multi-speed European Monetary Union, in Eichengreen B., Frieden J.

(eds), The Political Economy of European Monetary Unification, Boulder (Col.) Westview Press, p. Artus P. [], Will monetary union be. On the Feasibility of a One- or Multi-Speed European Monetary Union This paper addresses two questions: (1) Is a twelve-country monetary union in Europe feasible.

As the book remains in. In book: THE GREEK POLITICAL ECONOMY (pp) On the Feasibility of a One-Speed or Multi-Speed European Monetary Union. European Identity Its Feasibility and Desirability. European Identity Its Feasibility and Desirability by. 'The Union shall establish an economic and monetary union whose currency is the euro.' (Treaty on European Union, article 3, paragraph 4) The Economic and Monetary Union, or the EMU, refers to the process of integrating.

On the Feasibility of a One or Multi-Speed European Monetary Union By Alberto F. Alesina and Vittorio Grilli. If European Monetary Union (EMU) commences as planned under the timetable and convergence criteria of the Maastricht treaty, a two-speed arrangement likely will follow.

Under this arrangement a core of countries will form a monetary union, leaving a periphery that does not initially participate. The process of European monetary unification (EMU) is approaching a critical juncture.

At the beginning of the member states of the European Union will decide whether or not to go ahead with their monetary union and determine which countries qualify as members. There is a high likelihood that Stage III of the Maastricht process—monetary union itself—will commence on January 1.

The Economic and Monetary Union (EMU) is an umbrella term for the group of policies aimed at converging the economies of member states of the European Union at three stages. The policies cover the 19 eurozone states, as well as non-euro European Union states.

Each stage of the EMU consists of progressively closer economic integration. Only once a state participates in the third stage it is. Abstract. The European Union is at a crossroads.

At issue will be each of the three decisions which define a federal constitution: the number of participating governments, the assignment of policy responsibilities to the new EMU, and the representation of local interests in, and the decision-making rules for, the Union.The European Monetary Union is in fact only one part of a grand vision of an integrated Europe.

The Formation of the European Monetary Union has been a long process of an immense historical significance. Signing the Paris and Rome conventions, European leaders have founded the European Union’s legal basis.