ABSTRACT
A detailed analysis of the economic effects of the changeover to a unified European currency and the pressures caused by a dual-currency system over the transition period to the Euro. Subjects discussed include:* fiscal transfer payments: the implications of the US structure for the EMU* consequences of parallel currency 1999-2002* feasibility of a
TABLE OF CONTENTS
chapter 1|22 pages
THE CHANGEOVER TO A UNIFIED EUROPEAN CURRENCY: WHY A ‘BIG BANG’ APPROACH IS NECESSARY 1
Why a ‘big bang’ approach is necessary
chapter 2|8 pages
FISCAL TRANSFER PAYMENTS: IMPLICATIONS OF US STRUCTURE FOR THE EUROPEAN 23
Implications of US structure for the European Monetary Union
chapter 3|9 pages
EUROPEAN MONETARY UNION: SINGLE CURRENCY FEASIBLE WITHOUT THE ERM 31
Single currency feasible without the ERM
chapter 9|24 pages
THE INTERNATIONAL COMPETITIVENESS OF EUROPEAN MANUFACTURING
Evidence from cost and price measures