Estudos de Economia, 1995, Volume XV, nº 4
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- Monetary unions in Europe : historical experiencePublication . Valério, NunoThe feasibility of the plans to build an European Monetary Union should be tested against similar processes in the past. However, some doubts may be raised about which are the relevant similar processes in the past. The feasibility of the phase of irrevocably fixed exchange rates calls for comparison with the experience of international monetary systems such as the gold-standard and the gold-exchange standard. This experience shows that irrevocably fixed exchange rates are likely to be revocable whenever national security or any other social goal is considered more important than monetary stability. The feasibiliTy of the phase of replacement of several old national currencies by a new single European currency calls for comparison with the experience of Italian (early 1860s) and German (early 1870s and again 1990) monetary unifications. This experience shows that the only safe way to monetary unification is the quick and once for ever replacement of several old currencies by the new single currency (which may of course be one of the old currencies).
- UEM : condições de participação e regras de funcionamentoPublication . Cabral, António José
- O SME e a União Monetária : a história repete-se?Publication . Tavares, Carlos
- Preparation of the single monetary policy and the setting-up of the european system of central banksPublication . Smaghi, Lorenzo Bini
- Uma análise de curto prazo do consumo, do produto e dos saláriosPublication . Andrade, João Sousa
- A procura de reservas pelos bancos e as taxas de juro no MMIPublication . Sol, Fátima Assunção; Fonseca, José Alberto Soares da