@techreport{Schweickert1997challenges,
abstract = {The paper outlines the challenges for entry into EMU set up by Germany and the
extent to which potential members accepted these challenges. Three groups of
countries are identified: the core group (D-mark zone), the outsider group (countries
not willing to participate), and the convergence group (formerly) unstable countries
willing to participate). It is especially the progress towards convergence made by the
convergence group and the non-compliance of most countries with the fiscal criteria
which leads to uncertainty for the future path of European monetary integration: there
is still no consensus on the interpretation of the convergence criteria. Additionally,
there is another - maybe even more important - challenge for European monetary
integration: the lack of a consensus about the blueprint for economic policy making in
an European currency area - centralized versus decentralized, active versus passive
monetary and exchange rate policy.},
address = {Kiel},
author = {Rainer Schweickert},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {F41; O52; F31; 330; W\"{a}hrungsunion; Konvergenzkriterien; Internationale wirtschaftspolitische Koordination; Soziale Kosten; Public Choice; EU-Staaten},
language = {eng},
number = {814},
publisher = {Kiel Institute for the World Economy (IfW)},
title = {The challenges of monetary convergence in Europe},
type = {Kiel Working Papers},
url = {http://hdl.handle.net/10419/960},
year = {1997}
}
