Working Paper: CEPR ID: DP424
Authors: George Alogoskoufis; Richard Portes
Abstract: In this paper we examine the international implications of monetary union in the European Community (EMU) and the associated international costs and benefits. We consider prospective changes in international institutions, the potential role of the ecu as an international currency, and the implications of EMU for the international coordination of monetary and fiscal policies.
Keywords: monetary union; ECU; policy coordination
JEL Codes: 431; 432
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| EMU (F36) | international monetary negotiations (F33) |
| EMU (F36) | bargaining power of European countries (F55) |
| EMU (F36) | establishment of ECU as an international currency (F36) |
| establishment of ECU as an international currency (F36) | benefits for Europe (O52) |
| EMU (F36) | coordination of monetary policy (E61) |
| EMU (F36) | coordination of fiscal policy (F42) |