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The euro: It can’t happen, It’s a bad idea, It won’t last. US economists on the EMU, 1989-2002

Lars Jonung and Eoin Drea

The euro: It can’t happen, It’s a bad idea, It won’t last. US economists on the EMU, 1989-2002 - Lars Jonung and Eoin Dreapdf(410 kB) Choose translations of the previous link 

Summary for non-specialistspdf(82 kB) Choose translations of the previous link 

This study of approximately 170 publications shows (a) that US academic economists concentrated on the question "Is the EMU a good or bad thing?", usually adopting the paradigm of optimum currency areas as their main analytical vehicle, (b) that they displayed considerable scepticism towards the single currency, (c) that economists within the Federal Reserve System had a less analytical and a more pragmatic approach to the single currency than US academic economists, and (e) that US economists adjusted their views and analytical approach as European monetary unification progressed. In particular, the traditional optimum currency approach was gradually put into question.

(European Economy. Economic Papers. 395. December 2009. Brussels. PDF. 56pp. Tab. Graph. Ann. Bibliogr. Free.)

KC-AI-09-395-EN-C (online)
ISBN 978-92-79-14395-3 (online)
ISSN 1725-3187

JEL classification: B22,E42,E5,F02,F33,F41

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