| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP245 |
| DP245 The European Monetary System and the Franc-Mark Asymmetry | |
| Gilles Oudiz; Jacques MELITZ; Daniel Cohen | |
| 发表日期 | 1988-06-01 |
| 出版年 | 1988 |
| 语种 | 英语 |
| 摘要 | What purpose does the European Monetary System serve? Who benefits from it? Is it a Deutschmark zone? Or could one argue that, despite the asymmetrical positions of France and Germany, the System does serve a certain collective interest? An attempt to answer these questions reveals a basic paradox in the System: the operation of the EMS tends to undermine its own raison d'etre. In its present form, the EMS relies on superior monetary discipline in Germany, but this breeds monetary discipline elsewhere and therefore lessens the need of other members to lean on Germany for this advantage. The EMS will therefore need to evolve if it is to remain viable. The lines of possible evolution include a movement towards monetary union. The consequences for fiscal policy are particularly important. |
| 主题 | International Macroeconomics |
| 关键词 | European monetary system Fiscal policy International cooperation Monetary discipline |
| URL | https://cepr.org/publications/dp245 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529403 |
| 推荐引用方式 GB/T 7714 | Gilles Oudiz,Jacques MELITZ,Daniel Cohen. DP245 The European Monetary System and the Franc-Mark Asymmetry. 1988. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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