全球智库信息集成服务系统(G2TT): DP2944 Distribution Costs and Real Exchange Rate Dynamics During Exchange-Rate-Based Stabilization

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP2944
	DP2944 Distribution Costs and Real Exchange Rate Dynamics During Exchange-Rate-Based Stabilization
	Sérgio Rebelo; Joao C Neves; Ariel Tomas Burstein
发表日期	2001-09-19
出版年	2001
语种	英语
摘要	This Paper begins with a discussion of the relation between economics and politics in the construction of EMU. It briefly considers how the structural characteristics of the European economies relate to the Single Market programme, and how this initiative of the late 1980s both built the foundations for and led the way to EMU. It then considers in more detail the justification for monetary union and the process by which it was achieved. The analysis turns to instabilities that arise from the ?domino effect? in regional integration and how those relate to EMU. A discussion of the problems of fiscal consolidation in a monetary union and the ?Stability Pact? then leads to an enumeration of a range of problems that still face EMU. We conclude that both the integration of the real economy embodied in the Single Market programme and the political commitment ? however imperfect and limited ? of the European Union are necessary conditions for the success of monetary union.
主题	International Macroeconomics
关键词	Single currency Economic integration Emu Monetary union
URL	https://cepr.org/publications/dp2944
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/531987
推荐引用方式 GB/T 7714	Sérgio Rebelo,Joao C Neves,Ariel Tomas Burstein. DP2944 Distribution Costs and Real Exchange Rate Dynamics During Exchange-Rate-Based Stabilization. 2001.