New Political Economy of EMU

Jeffry Frieden is professor of government at Harvard University.Daniel Gros is deputy director of the Centre for European Policy Studies in Brussels, Belgium.Erik Jones is lecturer in politics at the University of Nottingham, U.K.

This is a serious book, and the lay reader will have to brace himself for outbursts of economists' algebra here and there. So the question of whether monetary union will indeed lead to political union, and, if so, in what form, will in due course receive its final answer. Mr. Frieden's and Mr. Jones's analysis help illuminate the likely outcome....

• Chapter 1 EMU: Economics and PoliticsChapter 2 Monetary Union and European UnemploymentChapter 3 External Shocks and Labor Mobility: How Important Are They for EMU?Chapter 4 Fiscal Deficit Reductions in Line with the Maastricht Criteria for Monetary Union: An Empirical AnalysisChapter 5 Monetary Union with Variable GeometryChapter 6 The Political Economy of European Monetary Union: A Conceptual Overview