European Union and the Euro Revolution, Volume 283

1st Edition

Authors: Manoranjan Dutta
Hardcover ISBN: 9780444529992
Imprint: Elsevier Science
Published Date: 5th March 2007
Page Count: 268


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Table of Contents

  1. Historical Progression of the European Union
  2. The European Union
  3. The Theory of Supranational Macroeconomics
  4. The European Central Bank & the Euro: Theory of Optimum Currency Area Revisited
  5. A Constitution for Europe
  6. The European Union: The Challenges Ahead
  7. The European Union and the US
  8. The European Union: A Learning Model


European Union and the Euro Revolution is a challenging study of the progression of the historic movement towards one European family. This volume is the first, most comprehensive exposition of the treatise of supranational macroeconomics. The Keynesian Revolution taught us macroeconomics in the context of a sovereign nation state. In the post-WWII decades, the concept of supra-national macroeconomics became the core theme of the European Union. Indeed, the traditional concept of a sovereign nation state economy begs a thorough reexamination. One common economic unit with its well-specified micro and macroeconomic parameters has been mapped onto one common geographic unit, the continent of Europe, a group of sovereign European nation states voluntarily surrendering their erstwhile sovereignty. The official inauguration of one common money, the euro, managed by one common supra-national central bank, the European Central Bank (ECB), on January 1, 1999, has been an epochal event in the eventful history of the European Union (EU) from 1958 through the present. As of 1999, with the euro and the ECB firmly established, the debate became: one money to one Europe.

European Union and the Euro Revolution draws on the author’s extensive field studies as a Visiting Scholar with three European national central banks, De Netherlandsche Bank in Amsterdam, Banque de France in Paris, and Der Deutsche Bundesbank in Frankfurt and Japan’s Ministry of Finance in Tokyo. His personal conferences with Dr. Otmar Issing, Chief Economist and a Member of the Executive Board of the ECB enriched his understanding of the related issues. His personal conferences with ranking economists and policy-makers of Bank of Japan and Japan Bank for International Development Tokyo, the Peoples Bank of China (PBOC) Beijing, Reserve Bank of Australia Canberra and Reserve Bank of New Zealand , Wellington , the Federal Reserve Banks of New York,

Key Features

Contributions to Economic Analysis was established in 1952 The series purpose is to stimulate the international exchange of scientific information *The series includes books from all areas of macroeconomics and microeconomics


Economists: Academic Researchers, Post-grad Students and some Professionals


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© Elsevier Science 2007
Elsevier Science
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About the Authors

Manoranjan Dutta Author

Affiliations and Expertise

Faculty of Economics, Rutgers University