The Impact of Economic and Monetary Union on Cohesion
Auteur: European Commission. Directorate-General for Regional Policy and Cohesion
Nombre de pages: 94 pages
ISBN: 9282882918, 9789282882917
Edition: Office for Official Publications of the European Communities
Date de publication: Office for Official Publications of the European Communities
Description: A survey of the current empirical literature on the potential impact of economic monetery union (EMU) on the Cohesion economies. The Cohesion economies being the economies of the countries whose gross national product is below 90% of the Community average and follow an economic convergence programme and are therefore eligible for assistance from the Cohesion Fund. At present only Spain, Greece, Ireland and Portugal qualify. The report examines adjustment costs and benefits of enhanced stability from EMU; impact of the loss of the nominal exchange rate as an instrument of economic policy; the potential long-term effects of lower transactions costs following EMU.