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Keywords:European Economic Community 

Journal Article
Is Europe ready for 1992?

A half-dozen experts look at the difficulties of melding the regulatory philosophies and practices of the dozen members of the EEC into a single financial Eurosystem.
Economic Perspectives , Volume 14 , Issue May , Pages 19-21

Journal Article
The success of Europe 1992 will be judged by benefits costs to members

Economics Update , Issue Jul , Pages 1-3

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

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

Newsletter
Is there a world business cycle?

Chicago Fed Letter , Issue Dec

Working Paper
Currency appreciation and \"deindustrialization\": a European perspective

During the 1980s, policy advisers were successful in promoting the view that movements in the value of the dollar have an inverse relationship to U.S. international competitiveness. This article explains their hypothesis, as well as the counterargument that exchange rates positively reflect a country's competitiveness. Economic policies that boost competitiveness also raise the value of the domestic currency. The mirror image of these hypotheses apply to U.S. trading partners, including Europe. The evidence indicates that European countries were not "deindustralized" from 1985 to 1990, when ...
Working Papers , Paper 1992-006

Discussion Paper
On intertemporal general-equilibrium reallocation effects of Europe's move to a single market

This paper provides intertemporal general-equilibrium investigation of the welfare and employment consequences of Europes move to a unified market, using a multicountry, multisector applied model with imperfect competition, increasing returns-to-scale, and product differentiation at the firm level. The oligopolistic game between firms is assumed to be Nash in output. In the short-term, market imperfections (such as oligopolistic profits and wage rigidities) may exist. These imperfections vanish in the long run, characterized by stock-flow equilibrium consistent with steady-state growth. ...
Discussion Paper / Institute for Empirical Macroeconomics , Paper 87

Journal Article
A market-based view of European Monetary Union

A discussion of European economic integration, noting that monetary union is of secondary importance to free markets in pushing Europe toward its economic potential.
Economic Commentary , Issue Apr

Conference Paper
Investment banking in Europe after 1992

Proceedings , Paper 243

Journal Article
Europe 1992: some monetary policy issues

Economic Review , Volume 74 , Issue Sep , Pages 3-8

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