Competitive Disinflation: The Mark and Budgetary Politics in Europe

This book addresses a main area of debate of economic development in Europe--the extent to which the budget policy of national governments is competitive rather than co-operative. It focuses on three particular cases: French macroeconomic policy since 1987, the reunification of Germany, and constraints on governmental budgeting powers imposed by national membership of EMU. The book evolved from deliberations of an international panel of distinguished economists brought together by OFCE in Paris. The issues are topical, but not ephemeral, and the exposition is accessible to undergraduate students, as well as others interested in the global economy.