Institutional changes and shifting ideas: a constitutional analysis of the Euro |
| |
Authors: | Maurizio Mistri |
| |
Institution: | 1.Department of Economic Sciences, University of Padova,Padova,Italy |
| |
Abstract: | This paper uses the logical tools of Constitutional Economics to analyze the creation of the Euro, considering the entire
process as the outcome of a conflict between different rules or, if you will, between different monetary systems, moving from
the system of flexible exchange rates to a system of fixed exchange rates and ultimately to the single currency. The conflict
between monetary systems has been acted out according to the single states’ collective preference functions, with both full
employment and price stability figuring among the weights of said preference functions. The “solution” of the single currency
was conceived when the body of information available to the policymakers was “simplified” by the new classical macro-economy
taking a hegemonic role. |
| |
Keywords: | |
本文献已被 SpringerLink 等数据库收录! |
|