Adjusting to EMU (One Europe Or Several?)

Economic and Monetary Union (EMU) entails a fundamental shift in macroeconomic policy for participating member states. Adjusting to EMU examines the design and delivery of monetary, fiscal and supply-side policies within the euro area. It appraises the ability of the emerging policy architecture to deliver a harmonious policy mix to twelve heterogeneous economies and the response of individual member states to the constraints and opportunities created by EMU.