Arestis, Philip; Khan, Mosahid; Luintel, Kul B. - In: Eastern Economic Journal 28 (2002) 1, pp. 89-103
The stringent deficit criterion followed by the EMU is motivated by the belief that a sustainable fiscal arrangement is a must for a viable monetary union. In this paper we provide an empirical analysis of the issue of deficit convergence in the Euro area and compare and contrast the Euro-zone...