Crowley (Texas A&M University) gathers European contributors to look at the present and future of European economic and especially monetary policies. Papers deal with topics such as the EU's employment policies, EU budgetary processes, and fiscal policy. The editor's own contribution to the book lays out the details and supposed economic rationale for the Stability and Growth Pact (SGP) that constrains EU Member State fiscal policies. Other papers compare EU budgetary processes to other countries on both sides of the Atlantic, examine the forecasting done by the ECB Member State central banks, and compare the inflation dynamics of 11 euro area members. There is also a paper applying Hotelling's model of monopolistic competition to the institutional and economic development of the EU. Annotation ©2008 Book News, Inc., Portland, OR (booknews.com)
