Table of contents

  1. Front Matter
    Pages i-ix
  2. EMU, Financial Markets and the World Economy

    1. Thomas Moser, Bernd Schips
      Pages 1-8
  3. EMU and the International Monetary System

    1. Front Matter
      Pages 9-9
    2. Jérôme Creel, Henri Sterdyniak
      Pages 31-52
    3. Agnès Bénassy-Quéré, Benoît Mojon
      Pages 53-72
    4. André Fourçans, Thierry Warin
      Pages 73-87
  4. EMU and European Capital Markets

    1. Front Matter
      Pages 89-89
    2. Claudia M. Buch, Susanne Lapp
      Pages 109-142
    3. Victor A. Canto, Robert I. Webb
      Pages 143-156
  5. EMU and Macroeconomic Policy

    1. Front Matter
      Pages 157-157
    2. Lilia Cavallari, Giuseppe De Arcangelis
      Pages 159-180
    3. Frank Strobel
      Pages 181-192
    4. Douglas Laxton, Eswar S. Prasad
      Pages 193-205
    5. Bas van Aarle
      Pages 207-216
  6. EMU and Countries outside the Euro Area

    1. Front Matter
      Pages 217-217
    2. Yin-Wong Cheung, Frank Westermann
      Pages 219-230
    3. Andreas Freytag
      Pages 231-251
    4. Antonin Rusek
      Pages 253-267
    5. Aykut Kibritçioğlu
      Pages 295-323
  7. Back Matter
    Pages 325-326

About this book


This book is based on the conference "EMU and the Outside World", held at the Swiss Federal Institute of Technology (ETH), December 11, 1998. The conference was organized by the Swiss Institute for Business Cycle Research (KOF), which is supported jointly by the ETH and the Swiss Society for Business Cycle Research (SGK), an organization comprising representatives from private industry, the Swiss National Bank and public authorities. On the eve of the final stage of European Economic and Mone­ tary Union (EMU), Zurich seemed to be a particularly appropriate place for such a conference. On the one hand, given its location and economic and financial links with the euro area, Switzerland is one of the "outside coun­ tries" most affected by EMU. On the other hand, it was nowhere else than in Zurich where the vision of "a United States of Europe" was expressed for the first time by Winston Churchill in his speech on September 19, 1946. For many EMU is a step in that direction, whether welcome or not. Most of the papers appearing in this volume were presented at the con­ ference and have been revised and updated. Three contributions, chapter 11- 13, were commissioned specially for this publication. Besides the authors of the chapters, special thanks are due to Guido Boller, Robert McCauley, Umberto Schwarz, and Charles Wyplosz.


Capital Markets Eastern Europe Euro Euroland Institution Integration Investment Policy Switzerland economic policy economy financial markets fiscal policy monetary policy monetary union

Editors and affiliations

  • Thomas Moser
    • 1
  • Bernd Schips
    • 2
  1. 1.Swiss National BankSwitzerland
  2. 2.Swiss Federal Institute of Technology (ETH)Switzerland

Bibliographic information