Peterson Institute bookstore
The Peterson Institute for International Economics is a private, nonprofit, nonpartisan
research institution devoted to the study of international economic policy. More › ›
RSS News Feed Search

Cooperating with Europe's Monetary Union
Book Data
May 1997
ISBN paper 978-0-88132-245-3
112 pp.
$11.95 $5.98
( 50 % discount)

Share

|

Cooperating with Europe's Monetary Union


Policy Analyses in International Economics 49

by C. Randall Henning

Description

Europe's monetary union will represent the most profound transformation of the international monetary system since the transition from fixed to flexible exchange rates in the early 1970s. It will compete with the erosion of American dominance and the dramatic increase in capital mobility for the distinction of being the most far-reaching change in the global monetary system since the Bretton Woods conference of 1944. Economic and Monetary Union (EMU) will create in Europe a new monetary actor with an economic size roughly comparable to the United States, ushering in a new era in international monetary relations. Nonetheless, while broad interests coincide, the creation of the monetary union will pose challenges to American, Japanese, and other non-European policymakers. Europe's monetary union could prove to be a difficult partner in international monetary cooperation. Henning recommends that European institutions and policy processes be strengthened, representation of the monetary union in the G-7 be consolidated, and that European, American, and Japanese authorities cooperate to reduce instability during the transition to monetary union.

UK and European Residents: Purchase this book through Eurospan for faster service.


Other books of interest:
Currencies and Politics in the United States, Germany, and Japan
Currencies and Politics in the United States, Germany, and Japan
by C. Randall Henning
Does Foreign Exchange Intervention Work?
Does Foreign Exchange Intervention Work?
by Kathryn M. Dominguez and
Jeffrey A. Frankel
Euro at Ten: The Next  Global Currency?
Euro at Ten: The Next Global Currency?
edited by Jean Pisani-Ferry and
Adam S. Posen