Institutional, Legal and Economic Aspects of the EMU

International renommierte Autoren - viele von ihnen sind am genannten Institut tätig - analysieren die wesentlichen Aspekte der besonderen Architektur der Europäischen Wirtschafts- und Währungsunion: einerseits geht es um den Rechtsstatus der Institutionen, andererseits um die Implikationen und möglichen Schritte in Richtung einer Reform der neuen Politikgestaltung in der Euro-Zone. Inhalt: I. Institutional and Legal Set-up of EMU: Barbara Dutzler: Institutional Framework of the EMU - Is the ECB a Fourth Pillar? (3-36); Harald Badinger / Barbara Dutzler: Excess reserves in the Eurosystem: an economic and legal analysis (37-65); Stefan Griller: Public Undertakings under the EMU Excessive Government Deficit Criterion (67-97). II. Fiscal Policy Framework - Room for Improvement? Michael J. Artis: The Stability and Growth Pact: Fiscal Policy in the EMU (101-115); Andrew Hughes Hallet / Nicola Viegi: On the Need for Inter-institutional Coordination in EMU: a re-evaluation of the theory of optimal currency areas (117-141). III. Monetary Policy, Financial Markets and Payment Systems: Fritz Breuss: Is ECB's monetary policy optimal already? (145-188); Rudolf Habacht / Walter Hoffenberg / Aurel Schubert: EMU and Issues in European Payment Systems (189-212); Gerhard Fenz: The euro as an international currency and its depreciation against the US-dollar (213-239). IV. Enlargement and EMU: Bernhard Mahlberg / Ralf Kronberger: Eastern Enlargement of the European Monetary Union: An Optimal Currency Area theory view (234-277); Peter R. Haiss: Monetary Union and Enlargement - Constrained by the Financial Sector? (280-344).