The success of European monetary integration-what the editors of this CESifo volume call "one of the most far-reaching, real world experiments in monetary policy to date"-is not assured. Policy makers have been forced to deal with challenges posed by formulating a uniform monetary policy for...

Economic and Monetary Union in Europe brings together contributions from leading specialists which explain and evaluate the most important implications of economic and monetary union. The book examines theoretical aspects of monetary integration, illustrates the historical lessons to be learned...