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Discussion Paper

Reforming the European Monetary Union


Abstract: We offer a theoretically based narrative that attempts to account both for the formation of the European Monetary Union (EMU) and for the challenges it has faced. Lack of commitment to policy plays a central role in this narrative and leads to four policy implications for EMU redesign.

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Bibliographic Information

Provider: Federal Reserve Bank of Minneapolis

Part of Series: Economic Policy Paper

Publication Date: 2017-05-08

Number: 17-3