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Keywords:European Economic Community 

Conference Paper
Overview of the symposium, Changing Capital Markets: Implications for Monetary Policy

Proceedings - Economic Policy Symposium - Jackson Hole

Journal Article
How the 1992 legislation will affect European financial services

Review , Issue Mar , Pages 62-77

Working Paper
Central bank independence and the costs of disinflation in the EC

Working Papers in Applied Economic Theory , Paper 94-04

Working Paper
Fiscal policy in monetary unions: implications for Europe

This paper analyzes how the feasible mix of government expenditure and financing arrangements may change with the establishment of a monetary union such as that planned by members of the European Community. We find that a monetary union reduces the feasible divergence across countries in their present discounted levels of fiscal spending. Wide differences across countries in their present and future time pattern of spending are still possible, however. Examination of the empirical evidence suggests that the movement towards greater exchange rate fixity associated with the EMS and ...
Working Papers in Applied Economic Theory , Paper 92-02

Journal Article
Europe in 1992

New England Economic Review , Issue May , Pages 13-26

Report
The transition to E.M.U.: structural and strategic aspects

The recurrent crises in the EMS have bolstered a lively debate about the transition to EMU. Indeed the political economy of regional integration is at odds with the theory of optimum currency areas. Essentially static and based on real criteria alone, the latter is not suited to deal with a process which has historical roots, political ends, real and nominal dimensions. The relevant concept is convergence. ; Part I first discusses the interplay of nominal and real convergence, then examines the structural and behavioural asymmetries between European countries. It shows why convergence is not ...
Research Paper , Paper 9511

Journal Article
Economic integration and fiscal policy transmission: implications for Europe in 1992 and beyond

Economic Review , Issue Spr , Pages 17-28

Conference Paper
Investment banking in Europe after 1992

Proceedings , Paper 243

Working Paper
Fiscal implications of the transition from planned to market economy

The transition from a centrally planned to a market-based economic system should change fundamentally the roles of government and public enterprises in the East-Central European countries of Hungary, Poland, and the Czech and Slovak Federated Republic (CSFR). The size of government should diminish, and that of the private sector increase, as subsidies, which are difficult to justify at market prices, are phased out. Taxes in centrally planned economies tend to be highly distortionary relative to those in market economies, making a restructuring of the tax system desirable to improve ...
International Finance Discussion Papers , Paper 424

Journal Article
Statement to Congress, September 26, 1989 (implications for U.S. financial institutions of plans by the European Community)

Federal Reserve Bulletin , Issue Nov , Pages 744-750

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