Economics of Monetary Union (14th edition)

Author (Person)
Publication Date 2022
ISBN 978-0-19-284977-9
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Reflecting the most update-to-date coverage of institutional changes within the European Monetary Union (EMU), the fourteenth edition of De Grauwe's established textbook seeks to encourage readers to think critically about the sustainability of the Eurozone. The author uses an authoritative, concise and exciting approach to analyse theories and policies relating to monetary union, allowing readers to develop a balanced understanding of different arguments and perspectives. New to this edition is content related to the effects of COVID-19 on the Eurozone and European Central Bank (ECB), and increased coverage of the history of the monetary union.

Part One examines the implications of adopting a common currency while Part Two considers the problems associated with running a monetary union. Both parts analyse Europe's experience and the issues faced by the European Central Bank (ECB)

Table of Contents:

  • Part 1 | Costs and Benefits of Monetary Union
    • The costs of a common currency
    • The theory of optimum currency areas: a critique
    • The benefits of a common currency
    • Costs and benefits compared
  • Part 2 | Monetary Union
    • The fragility of incomplete monetary unions
    • The transition to a monetary union
    • How to complete a monetary union
    • Political economy of deconstructing the Eurozone
    • The European Central Bank
    • Monetary policy in the Eurozone
    • Fiscal policies in monetary unions
    • The euro and financial markets


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