Article2006

What Have we Learnt about Monetary Integration since the Maastricht Treaty?

178 citations0/0 files storedJCMS Journal of Common Market Studies

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European Monetary and Fiscal Policies European Union Policy and Governance Global Financial Crisis and Policies

Abstract

The present governance of the euro area has been devised assuming that the world fits the monetarist-real-business-cycle theory. But that theory is not a correct representation of the world. The European monetary union is a remarkable achievement, but remains fragile because of the absence of a sufficient degree of political union.

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References

1998The Endogenity of the Optimum Currency Area Criteria 1991Optimum Currency Areas 2000One money, one market: the effect of common currencies on trade 2003Macroeconomic Effects of Regulation and Deregulation in Goods and Labor Markets 2001National Money as a Barrier to International Trade: The Real Case for Currency Union 1996The Endogeneity of the Optimum Currency Area Criteria 1970Monetary Problems of the International Economy.1996Channels of Interstate Risk Sharing: United States 1963-1990

Cited by

2015A historical institutionalist explanation of the EU's responses to the euro area financial crisis 2013The Political Economy of the Euro 2016Democracy without choice: Citizens’ perceptions of government autonomy during the Eurozone crisis 2009Explaining Europe’s Monetary Union: A Survey of the Literature 2009Contradictions and Limits of Neoliberal European Governance 2013‘Tough Love’: How the ECB’s Monetary Financing Prohibition Pushes Deeper Euro Area Integration 2013The collapse of the Brussels–Frankfurt consensus and the future of the euro 2015Theory of Optimum Currency Areas

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