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"Macroeconomic policy during the transition to monetary union"

Crowley, Patrick. (1997) "Macroeconomic policy during the transition to monetary union". In: UNSPECIFIED, Seattle, WA. (Unpublished)

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    The transition to European Monetary Union (EMU) may start in 1999. The transition phase, as outlined in the European Commission green paper on the practical arrangements for the introduction of the single currency, will, however, be spread out over a period of up to three years and six months. During this period participating member state exchange rates will be irrevocably fixed and monetary policy will be implemented by the European Central State Bank. Conversely, fiscal policy will be guided by the Maastricht convergence criteria but implemented at the member state level. This paper evaluates the possible problems in formulating macroeconomic policy as participating member states proceed to adopt a single currency, and considers policy coordination and objectives, seigniorage, cohesion and dynamic economic and political considerations during the transition period.

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    Item Type: Conference or Workshop Item (UNSPECIFIED)
    Uncontrolled Keywords: Macroeconomic policy.
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > economic and financial affairs > economic policy
    EU policies and themes > Policies & related activities > economic and financial affairs > EMU/EMS/euro
    EU policies and themes > EU institutions & developments > institutional development/policy > decision making/policy-making
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Conference: European Union Studies Association (EUSA) > Biennial Conference > 1997 (5th), May 29-June 1, 1997
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 14 Mar 2007
    Page Range: p. 27
    Last Modified: 15 Feb 2011 17:22

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