The paper deals first with the characters of unemployment and inflation and their trend in the EMU. Then it underlines that EMU's institutions tend to reduce inflation to a minimum, while limiting fiscal interventions at the national and the European level. The policies implemented recently...

The European Union is at a crossroads. This book analyzes the historical roots of the EU's monetary and financial institutions in order to better understand its struggle to maintain an economic and monetary union, as well as the ongoing problems facing the Euro. The institutions of the EU are...

The uncovered interest rate parity condition lies at the heart of the "impossible trinity", stating that the three objectives of fixed exchange rates, free capital flows, and independent monetary policy cannot be pursued simultaneously. We argue that although monetary unification does indeed...