This first volume of two on European Monetary Union (EMU) is based on the work, and gives the view, of the Commission of the European Communities. It provides a general introduction to the issues. The EMU project is outlined and its benefits and costs examined, including the implications for public finances and the impact on the international system. The author also looks at transitional issues in general, at national perspectives, transaction costs, and macroeconomic model simulations.
Readership: Advanced undergraduates studying European economics and monetary economics. Economists, business leaders, bankers and financiers, economic journalists,
economists in government, central banks and international organizations.
Michael Emerson, Head of Delegation, the Commission of the European Communities to the Soviet Union, Daniel Gros, Alexander Italianer, and others
"`An excellent evaluation of the prospects of EMU.'
M.J. Riley, Thames Polytechnic"
"'a thorough economic appraisal by the Commission of the likely economic effects - costs as well as benefits - of the move to EMU ... Even after the Maastricht Summit, this analysis, which is not targeted exclusively at economists, loses none of its interest.'
Europe, No. 5680, 2/3 March 1992"
"'well-organized book ... this book will be a valuable source of ideas and information to readers on both sides of what could be one of the most important arguments on the 1990s agenda for specialists in international economics and politics'
G.T. Potter, emeritus, Ramapo College of New Jersey, Choice, Oct '92"
"`Excellent study of the costs and benefits of monetary unification.'
Nigel Grimwade, South Bank University"
"`Useful for its analysis of monetary union. No equivalent at this level to the best of my knowledge.'
C. McPherson, Humberside University"