Prospects for the European Monetary System

The papers in this volume were presented at a conference on "The EMS, Ten Years Later" at the University of Bergamo, Italy, May 1989. They look at the history of the EMS, the reasons underlying the successes attributed to it, the problems it created, and its future.

Inhalt
The EMS, the Single Market and monetary union - an overview, Piero Ferri. Part 1 Nature of the EMS: the EMS and other international monetary regimes compared, Marcello de Cecco; the EMS - lessons from Europe and perspectives in Europe, Francesco Giavazzi. Part 2 The EMS and real adjustments: real exchange rates and trade imbalances in the EMS, Stefano Vona; the EMS and international transmission mechanism, Jean Paul Fitoussi and Jacques le Cacheux. Part 3 The EMS and the impact of the Single market: the EMS and the completion of the internal market, Pippo Ranci; divergent European labour markets, David Metcalf. Part 4 The EMS and liberalization of capital movements: liberalization of capital movements, Paul de Grauwe; financial liberalization and exchange rate policy in the newly integrating countries of the European Community, Jorge Braga de Macedo. Part 5 Problems and perspectives: the EMS ten years on - problems and perspectives, Rainer S.Masera; macroeconomic policy coordination and the European Monetary System, Richard Portes; the EMS, the dollar and thE world economy, Jan A.Kregel.