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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 …
Persistent link: https://www.econbiz.de/10009465029
within the projected time frame. Despite the merits of nominal appreciation, countries committed to hard euro pegs might …
Persistent link: https://www.econbiz.de/10009483190
Traditionally clustered around one leading "hegemonic" world currency, with the introduction of the euro the … in the international consequences of the introduction of the Euro and analyzes the costs and gains from cooperation in …
Persistent link: https://www.econbiz.de/10009483196
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 …
Persistent link: https://www.econbiz.de/10009483197
This paper examines the long-term financial integration of second-round acceding and candidate countries?? with the European Union and the US stock markets during the Accession Process. The lowpair wise correlations between these markets imply portfolio diversification opportunities, yet...
Persistent link: https://www.econbiz.de/10009483198
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 …
Persistent link: https://www.econbiz.de/10009483202
In the discussions on the need for fiscal rules and their usefulness in a monetary union, researchers have not agreed if financial markets have a sufficiently disciplining effect on governments, which would mean that the fiscal rules are not necessary. This paper investigates whether the...
Persistent link: https://www.econbiz.de/10009483205
Evento: Mesa redonda en el seminario sobre 'El sector financiero español ante el reto de la UME: el euro, la moneda …
Persistent link: https://www.econbiz.de/10013267157
Evento: Encuentro 'La Unión Económica y el euro. Transformaciones en el entorno económico'. Organizado por: Fundación …
Persistent link: https://www.econbiz.de/10013267158
Evento: SURF Seminar 'Impact of the euro on organised financial markets and, specially, on derivative markets …
Persistent link: https://www.econbiz.de/10013267162