The Maastricht Treaty, signed in December 1991, set a timetable for the European Community's economic and monetary union (EMU) and clearly defined the instituti

This study is concerned with the policy process by which the movement towards closer monetary integration, and the still very uncertain objective of EMU, has be

We examine economic convergence among euro area countries on multiple dimensions. While there was nominal convergence of inflation and interest rates, real conv

This book surveys the prospects for regional monetary integration in various parts of the world. Beginning with a brief review of the theory of optimal currency