after the introduction of the euro for the EMU countries asopposed to the non-EMU countries. I do not obtain strong evidence … supporting PPP forthe EMU countries since the euro adoption, but the faster mean reversion I observe inthe few EMU countries …) countriesthat adopted the euro, and 3 non-EMU countries] from 1993 to 2002 using a dynamicpanel data model. My main contributions to …

of EMU). Second it reviews how ERM2 is conducive to future euro-zone membership of the accession countries. From the … "outs" to fulfill the convergence criteria, and whether in this case "ins" open the door for the "outs" to enter the euro … of the Central and Eastern European accession countries to the euro area. In order to overcome these pitfalls the author …

unevenly distributed over the participants ?? on the other hand, the internal (inflation) and external (value of the Euro vis …), whereas the "soft-currency" group has to carry the adjustment costs to a regime of fixed exchange rates (Euro) which results … ("soft-currency" countries). If the EMU will start with a large group there will be a tendency to devalue the Euro against …