International Implications of European Economic and Monetary Union / Norbert Funke and Mike Kennedy
Contributor(s): Resource type: Ressourcentyp: Buch (Online)Book (Online)Language: English Series: OECD Economics Department Working Papers ; no.174Publisher: Paris : OECD Publishing, 1997Description: 44 p. ; 21 x 29.7cmSubject(s): DOI: DOI: 10.1787/557406211626Online resources: Summary: For a long time European Economic and Monetary Union was mainly considered an internal European issue and external consequences were largely ignored. In contrast to most previous analyses, this paper looks at a number of international implications of monetary union. It is argued that several factors could contribute to the euro becoming an international currency in the future and a competitor to the US dollar in this respect. The degree of uncertainty attached to this outcome, however, remains considerable and in any event the emergence of the euro as a major international currency is likely to take some time. Given the expected size of the euro-zone and the likelihood of the euro becoming an international currency, fiscal and monetary policies in the area are likely to have a significant impact on the macroeconomic environment in the rest of the world. An important issue is how will monetary union affect major bilateral exchange rate developments and their volatility. A number of ...PPN: PPN: 729995828Package identifier: Produktsigel: ZDB-13-SOC | ZDB-13-SOC-ebookNo physical items for this record