... 62, 74 , 1 07, 125, 155, 177 , 193, 223 Monetary and fiscal cooperation, 25, 47 Monetary and fiscal cooperation between Europe and America, 150, 2 17 Monetary and fiscal interaction, 23, 41 Monetary ... illustrate the subject in hand. The monetary union is an open economy with high capital mobility. The exchange rate between the monetary union and the rest of the world is flexible. The world interest ... For instance, what determines the rate of consumer inflation in Europe, and what in America? Moreover, what determines the rate of consumer inflation in Germany, and what in France? Further...