EMU, four years on

• Published in: Oxford review of economic policy 2003-04, Vol.19 (1), p.1-213
• Main Authors: Allsopp, Christopher, Artis, Michael, Cecchetti, Stephen, O'Sullivan, Róisín, Surico, Paolo, Ehrmann, Michael, Gambacorta, Leonardo, Martinez-Pagés, Jorge, Sevestre, Patrick, Worms, Andreas, Chatelain, Jean-Bernard, Generale, Andrea, Hernando, Ignacio, Kalckreuth, Ulf von, Vermeulen, Philip, Buiter, Willem H, Buti, Marco, Eijffinger, Sylvester, Franco, Daniele, Fatás, Antonio, Mihov, Ilian, Barrell, Ray, Weale, Martin, Hancké, Bob, Soskice, David, Begg, Iain, Hartmann, Philipp, Maddaloni, Angela, Manganelli, Simone
• Format: Article
• Language: English
• Subjects: Banking system; Banks; Bundesbank; Central banks; Economic and Monetary Union; Economic policy; Economic stabilization; EU enlargement; Euro; Euro area; Europe; European Central Bank; European Union; Exchange rates; Federal Reserve; Finance; Financial systems; Fiscal policy; Inflation rate; Interest rates; Labour market; Monetary policy; Money; Policy studies; Political economy; Regional disparities; Stability and Growth Pact; Wage negotiations
• ISSN: 0266-903X; 1460-2121

Examines progress of the European Monetary Union, European Central Bank, Euro Area, and related financial and policy issues; 12 articles. Contents: The assessment: EMU, four years on, by Christopher Allsopp and Michael Artis; The European Central Bank and the Federal Reserve, by Stephen Cecchetti and Róisín O'Sullivan; Asymmetric reaction functions for the Euro Area, by Paolo Surico; The effects of monetary policy in the Euro Area, by Michael Ehrmann, Leonardo Gambacorta, Jorge Martinez-Pagés, Patrick Sevestre, and Andreas Worms; New findings on firm investment and monetary transmission in the Euro Area, by Jean-Bernard Chatelain; Andrea Generale, Ignacio Hernando, Ulf von Kalckreuth, and Philip Vermeulen; Ten commandments for a fiscal rule in the E(M)U, by Willem H. Buiter; Revisiting EMU's Stability Pact: a pragmatic way forward, by Marco Buti, Sylvester Eijffinger, and Daniele Franco; On constraining fiscal policy discretion in EMU, by Antonio Fatás and Ilian Mikov; Designing and choosing macroeconomic frameworks: the position of the UK and four years of the Euro, by Ray Barrell and Martin Weale; Wage-setting and inflation targets in EMU, by Bob Hancké and David Soskice; Complementing EMU: rethinking cohesion policy, by Iain Begg; The Euro-area financial system: stucture, integration, and policy initiatives, by Philipp Hartmann, Angela Maddaloni, and Simone Manganelli.