01798cas a2200253 a 4500 AALejournalIMF000373 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451847826 1018-5941 BD-DhAAL BD-DhAAL Masson, Paul. Characteristics of the Euro, the Demand for Reserves, and Policy Coordination Under EMU / Paul Masson, Bart Turtelboom. Washington, D.C. : International Monetary Fund, 1997. 1 online resource (37 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The success of European Economic and Monetary Union (EMU) will depend on the stability of the euro. The monetary policy framework is yet to be decided, but is likely to involve either money or inflation targeting. Stochastic simulations compare the outcomes for major macroeconomic and financial variables pre- and post-EMU under both policy rules, as well as under an inflation targeting rule that includes output. Implications for the euro as a reserve currency are examined in the light of the expected returns and covariances among reserve currencies. The role of the exchange rate as an indicator and incentives for policy coordination with other major countries are also discussed. Mode of access: Internet Turtelboom, Bart. IMF Working Papers; Working Paper ; No. 1997/058 Full text available on IMF http://elibrary.imf.org/view/journals/001/1997/058/001.1997.issue-058-en.xml IMF e-Library