Alice in Euroland
Bibliographic Data
| ID | 7876455 |
|---|---|
| Authors | Willem H Buiter (0000-0002-5974-6291, Bank of England, corresponding author) |
| Year | 1999 |
| Volume | 37 |
| Issue | 2 |
| Pages | 181-209 |
| Publication date | 1999-06-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | JCMS Journal of Common Market Studies (JOURNAL) |
| Journal identifiers | ISSN: 0021-9886 • E-ISSN: 1468-5965 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/1468-5965.00159 |
| OpenAlex | W1605038209 |
| Language | EN |
| Citations received | 57 |
| References cited | 3 |
The article contains a detailed critique of the common currency arrangements of the Economic and Monetary Union, embodied in the laws and emerging procedural arrangements that govern the actions of its key institutions: the European Central Bank and the European System of Central Banks. The main message here is, ‘Great idea, shame about the execution’. A number of improvements are then proposed. Some of these require amending the Treaty, including an end to the rule that each EMU member’s national central bank has a seat on the Governing Council or the removal of the power of the Council of Ministers to give ‘general orientations’ for exchange rate policy. Others, notably in the areas of accountability, openness and transparency, could be implemented immediately, including publication of voting records, minutes and the inflation forecast. Improved arrangements are also advocated for the co‐ordination of monetary and fiscal policy. And the article calls for a European Parliament that can both bark and bite
Accountability · Currency · Economic and monetary union · Economics · European integration · European union · Exchange rate · Inflation (cosmology · International economics · Maastricht Treaty · Macroeconomics · Monetary policy · Parliament · Political science · Politics · Transparency (behavior · Voting · European Monetary and Fiscal Policies · Finance · Fiscal Policies and Political Economy · Global Financial Crisis and Policies · Law · Public Administration
European States and the Euro
Optimal Transparency and Risk-Taking to Avoid Currency Crises
Cervical length and gestational age at admission as predictors of intra‐amniotic inflammation in preterm labor with intact membranes
The British Regulatory State
Central Bank Communication and Monetary Policy
The Euro and Labour Market and Wage Policies
Why EMU Is—or May Be—Good for European Welfare States
Monetary policy decision-making by committee
Un passé dépassé ? L’indépendance des banques centrales au XXI e siècle
On the Rationale of Central Bank Transparency, Accountability and Communication
Evolución de la noción de transparencia y rendición de cuentas en el sector público
The Euro after Two Years
What Drives Banking Sector Fragility in the Eurozone? Evidence from Stock Market Data
Oversight, Accountability, or Influence? Understanding the Use of Monetary Dialogues in the European Parliament
The European Central Bank
Revisiting ECB’s Technocratic Legitimacy
Monetary‐Fiscal Interactions and the Problem of Outdated Commitments
Advocating EMU
Masters of the ‘masters of the universe’? Monetary, fiscal and financial dominance in the Eurozone
Contested Meanings of Transparency in Central Banking
Explaining Europe’s Monetary Union
Preparedness, Crisis Management and Policy Change
National Sovereignty, European Integration and Domination in the Eurozone
Democratic accountability and the exchange-rate policy of the euro area 1
Running an enlarged euro-zone – reforming the European Central Bank
The legitimation of EMU
Europe's Quest for Monetary Stability. Central Banking Gone Astray
Monetary Policy Regimes. A Fragile Consensus
Bringing Independence and Accountability Together
Instrumentalizing EMU’s democratic deficit
The United Kingdom
In search of the ideational foundations of EU fiscal governance
The EMU’s Legitimacy and the ECB as a Strategic Political Player in the Crisis Context
Sui generis no more? The ECB’s second decade
Police patrols, fire alarms, or ambulance chasers? Parliamentary oversight of European monetary policy and banking supervision
The limits of `independence' and the policy of the ECB
Committee Decision-Making under the Threat of Leaks
Cutting the Bank Down to Size
Central Bank Transparency
Euro Area entry in east-central Europe
The Logic of Collective Responsibility in European Monetary Integration
The politics of the European Central Bank
Democracy in the age of the euro
The promises and pitfalls of the ECB’s ‘legitimacy-as-accountability’ towards the European parliament post-crisis
A historical institutionalist explanation of the EU's responses to the euro area financial crisis
What is European Economic and Monetary Union Telling us About the Properties of Optimum Currency Areas
Can the Euro Ever Challenge the Dollar
Reinventing monies in Europe
Transparency and the EU Legislator
E Pluribus Unum? Creative Disagreement about Legitimacy in the EU
The Theory and Practice of Economic Governance in EMU Revisited
Monetary and Fiscal Policy Co‐operation
Economic logic or political logic? Economic theory, federal theory and EMU
Economic and monetary union
Let's speak more? How the ECB responds to public contestation
What Can Currency Crisis Models Tell Us about the Risk of Withdrawal from the EMU? Evidence from ADR Data
The Limits of Transparency
| Unique citing works | 57 |
|---|---|
| Citations per year | 2,19 |
| Citation span | 2000 - 2025 (26) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 55 |