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"Monetary union and economic growth"

Vickers, John (2000) "Monetary union and economic growth". In: UNSPECIFIED, Brussels, Belgium.

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    Abstract

    This paper discusses possible links between monetary arrangements in particular monetary union and economic growth. It is stressed that growth depends ultimately on how the real economy works: there is no monetary magic that can conjure up growth. But monetary policy can contribute to conditions for sustainable growth by securing and maintaining price stability; monetary union might extend this. It might also deepen the single market. The elimination of nominal exchange rate movement among members of the union removes some sources of shock but also some ways of adjusting to shocks. This underlines the importance of other adjustment mechanism.especially supply-side flexibility, which is crucial for growth in any event.

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    Item Type: Conference or Workshop Item (UNSPECIFIED)
    Additional Information: Also published as NBB Working Paper Nr. 10, May 2000
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > economic and financial affairs > EMU/EMS/euro
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Conference: National Bank of Belgium > How to Promote Economic Growth in the Euro Area, Brussels, May 11-12, 2000
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 23 Jun 2003
    Page Range: p. 27
    Last Modified: 15 Feb 2011 17:16
    URI: http://aei.pitt.edu/id/eprint/634

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