Convergence and Coordination in the EU: A Dynamic Games Approach

Abstract

This is a normative study with theoretical and empirical aspects of the impact of the Maastricht Treaty's (1991) convergence conditions. The study is carried out in a dynamic game context. Starting from the Treaty, we compare four possible scenarios: a noncooperative scenario, a cooperative scenario, a noncooperative convergence scenario and cooperative convergence scenario. In these last two scenarios, the EU-Member States pursue a restricted policy. This restrictIon IS implied by the convergence criteria