Michael Emerson

One Market, One Money: An Evaluation of the Potential Benefits and Costs of Forming an Economic and Monetary Union

This first volume of two on European Monetary Union (EMU) is based on the work, and gives the view, of the Commission of the European Communities. It provides a general introduction to the issues. The EMU project is outlined and its benefits and costs examined, including the implications for public finances and the impact on the international system. The author also looks at transitional issues in general, at national perspectives, transaction costs, and macroeconomic model simulations.

Global Matrix: A Conceptual and Organisational Framework for Researching the Future of Global Governance

Conceptually, Global Matrix advances in a systematic and structured inter-disciplinary (matrix) framework a research agenda for examining the stance of major world actors on the key policy dimensions to world politics (political ideologies, economics, migration, climate change, security and world view); drawing out evidence of cross-cutting linkages (between sectors and among major actors); and evaluating the evolution and adequacy of existing multilateral institutions in relation to the emerging multi-polarity, and formulating recommendations. As a matter of organisation, Global Matrix has assembled a network of teams of scholars from think tanks in China, the EU, India, Russia and the US, with participation to be extended to other G20 states (Brazil, South Africa, Korea, Japan). The objective is to create a semi-permanent network as part of the emerging structures of the global civil society. It will serve as a continuing ‘track-2’ initiative to monitor major developments in global governance, including at the G20, and at other global fora as appropriate. It is a capacity-building venture at global level, with the leading think tanks intending to work together for a sustained effort, while precise participation can evolve over time.