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The European Monetary Union: an agnostic evaluation

Author: Wyplosz, Charles ; Cohen, DanielINSEAD Area: Economics and Political ScienceIn: Journal of International Securities Markets, no. 3, autumn 1989 Language: EnglishDescription: p. 287-302.Type of document: INSEAD ArticleNote: Please ask the Library for this articleAbstract: European monetary union is not necessarily implied by the single market due by 1993. EMU should be favoured over the current European monetary system as it would lead to an identical, riskless interest rate everywhere in Europe. However, EMU would leave unresolved a key issue of policy integration, ie. how to determine collectively the trade balance of the zone vis à vis the rest of the world
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European monetary union is not necessarily implied by the single market due by 1993. EMU should be favoured over the current European monetary system as it would lead to an identical, riskless interest rate everywhere in Europe. However, EMU would leave unresolved a key issue of policy integration, ie. how to determine collectively the trade balance of the zone vis à vis the rest of the world

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