Lossani, Marco; Natale, Piergiovanna; Tirelli, Patrizio - Volkswirtschaftliche Fakultät, … - 1999
In this paper, the consequences on financial stability of the institutional design envisaged in the Maastricht Treaty … externalities across jurisdictions. The present institutional design does not allow EMU to benefit from the internalization of these … subsidiarity to the problem of power sharing between ECB and NCBs, the following suggestions for a revision of the institutional …