The Making of Monetary Union

• Author(s): David Begg,
• Publisher: Centre for Economic Policy Research
• Pages: 136
• ISBN_10: 1898128057
  ISBN_13: 9781898128052
  
• Language: en
• Categories: Business & Economics / Money & Monetary Policy , Business & Economics / International / Economics & Trade , Political Science / General , Political Science / Public Policy / Economic Policy ,

Description:... This Report examines the monetary unification of Europe and the creation of a European Central Bank. It deals first with the macroeconomics of monetary union and highlights four issues. What monetary constitution is required to deliver price stability, and do the draft statutes of the European Central Bank (ECB) meet these conditions? Are fiscal rules a necessary adjunct to such a constitution? Is convergence of inflation rates a precondition for embarking on monetary union? Finally, how should the transition be managed?