The New Political Economy of EMU / Edition 216

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The creation of an economic and monetary union (EMU) in Europe is among the most important-and controversial-developments of the 1990s. This clear and balanced book brings together economists and political scientists to explain why the creation of a European monetary union is so contentious; how the debate has affected the political determination to construct a monetary union; and how it will influence the functioning of EMU into the next century. Focusing on how economics and politics interact both in the prelude to unification and in its aftermath, the authors provide an innovative analysis of a spectrum of related issues: how EMU relates to Europe's unemployment crisis, how it will affect the process of economic adjustment, what convergence means for the performance of the member states separately, and how the member states will decide both whether to participate themselves and whom else to admit to the monetary club.

Author Biography: Jeffry Frieden is professor of government at Harvard University. Daniel Gros is deputy director of the Centre for European Policy Studies in Brussels, Belgium. Erik Jones is lecturer in politics at the University of Nottingham, U.K.

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Editorial Reviews

May 1999 The Economist
This is a serious book, and the lay reader will have to brace himself for outbursts of economists' algebra here and there.

So the question of whether monetary union will indeed lead to political union, and, if so, in what form, will in due course receive its final answer. Mr. Frieden's and Mr. Jones's analysis help illuminate the likely outcome.

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Product Details

  • ISBN-13: 9780847690190
  • Publisher: Rowman & Littlefield Publishers, Inc.
  • Publication date: 9/28/1998
  • Series: Governance in Europe Series
  • Edition description: New Edition
  • Edition number: 216
  • Pages: 216
  • Product dimensions: 5.76 (w) x 9.00 (h) x 0.48 (d)

Meet the Author

Jeffry Frieden is professor of government at Harvard University. Daniel Gros is deputy director of the Centre for European Policy Studies in Brussels, Belgium. Erik Jones is lecturer in politics at the University of Nottingham, U.K.

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Table of Contents

List of Tables and Figures
1 EMU: Economics and Politics 1
2 Monetary Union and European Unemployment 13
3 External Shocks and Labor Mobility: How Important Are They for EMU? 53
4 Fiscal Deficit Reductions in Line with the Maastricht Criteria for Monetary Union: An Empirical Analysis 83
5 Monetary Union with Variable Geometry 125
6 The Political Economy of European Monetary Union: A Conceptual Overview 163
A Note on Data Sources 187
References 189
Index 201
List of Editors and Contributors 205
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