Europe's gamble

Article Abstract:

The introduction of a single European currency, the euro, which is scheduled on January 1, 1999, would include eleven countries such as France, Germany, Benelux, Portugal, Italy, and Finland. A single currency would theoretically result in advantages such as lesser transaction costs, a reduction in exchange rate fluctuations, and better credibility. However, uncertainty in its success remains due to the macroeconomic problems in member countries which cannot be solved by the introduction of a single currency. The plan involves much risk and can only be alleviated if countries initiate political reforms in their fiscal and labor markets.

Public Finance Activities, Fiscal Policy, Other General Government Support, Coinage & Currency, Economic policy, Money, Euro (Currency), European Monetary System

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What does monetary policy do?

Article Abstract:

A group of researchers is working on the possibility of a model that is useful both in choosing an economic policy and in making economic forecasts. The traditional assumption is that a single model is not workable for both, but research is being done on a model that utilizes an advanced statistical technique for evaluating policy and its effects on the economy.

Economics, Research and Development in the Social Sciences and Humanities, Methods, Economic research, Economic forecasting

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