The economic and business consequences of the EMU: a challenge for governments, financial institutions and firms

Book abstract:

This volume describes the economic consequences of the introduction of European Monetary Union (EMU) and the Euro since January 1999. The discussion is the result of a conference held on 17-18 March 2000 in Ghent on the economic consequences of the introduction of the EMU and the Euro for governments, financial institutions and firms. The aim of the conference was threefold. Firstly to make a first assessment after more than a year's experience with Economic and Monetary Union. Secondly, to examine the impact of EMU and the introduction of the Euro in various areas of economic policy, involving both government and the corporate sector including the banking industry. Thirdly, to provide an insight into the challenges that the Euro offers for the coming years with respect both to macro-economic policy and the development of the financial markets and with respect to business management. This volume's aims are therefore to promote discussion of these issues among a wider audience.

The sixteen chapters reflect the keynote address and the best of the research papers presented at the conference. They are: Beyond EMU: the need for new momentum; European competitiveness and the Euro; The Euro: the issues for the future; EMU from an historical perspective; Monetary policy in the Euro area and the first year of the Eurosystem; How the Euro affects investments; The evolution of national tax structures in view of the EMU; Challenges for successful wage setting in Europe; EMU and European labour markets; Social protection competition in the EMU; Central and Eastern European countries and the advent of the Euro: is Euro-isation a good idea?; Price differences and price setting in the European car market; Strategy and the Euro: the impact of the single currency on business strategy; Banking in the EMU: an industrial organization perspective; Impact of the introduction of the Euro on financial reporting in the EMU; and How will the Euro affect corporate finance?