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economy arguments point to fast EMU accession of NMS. Looking at the 'classical' optimum currency area criteria, i.e. trade …
Persistent link: https://www.econbiz.de/10008633021
unstable as a result of various methodological changes in statistics and structural and institutional changes in the economy …, which makes serious econometric analysis risky. This argument is particularly relevant to the Ukrainian economy, which … economy as a whole, varying conditions of Ukraine’s major trade partners, changing attitudes of financial investors to …
Persistent link: https://www.econbiz.de/10008529169
The paper analyses the way in which monetary and fiscal policy influences the performances of economic growth and social welfare. The analysis is made on the basis of a dynamic model with discrete variables. The model is with a representative private agent and a government sector consisting of a...
Persistent link: https://www.econbiz.de/10005036720
The paper analyses the way in which monetary and fiscal policy influences the performances of economic growth. The analysis is made on the basis of a dynamic model with discrete variables of the Sidrauski- Brock type, with infinite-lived households and money in the utility function. The model is...
Persistent link: https://www.econbiz.de/10005036722
The Maastricht convergence criteria are partially based on the theory of optimum currency areas and costs-benefits analysis of the creation of a single currency area as the EMU foundation. Fulfillment of convergence criteria should be durable, but it requires a certain degree of real convergence...
Persistent link: https://www.econbiz.de/10005518194
Persistent link: https://www.econbiz.de/10004998705
Persistent link: https://www.econbiz.de/10005037371
Canzoneri and Diba (2004) show that the Taylor principle is not a panacea for equilibrium determinacy in a model where bonds and money provide liquidity services to households. We consider a cashless variant of their model with two types of government bonds. One bond provides transaction...
Persistent link: https://www.econbiz.de/10005207069
This paper analyzes the dynamic effects of anticipated monetary and fis- cal policies in a large monetary union, which is characterized by asym- metric interest rate transmission. We explicitly solve the asymmetric three-country model using the decomposition methods of Aoki (1981) and Fukuda...
Persistent link: https://www.econbiz.de/10005082830
The monetary integration of the acceding countries will proceed in several distinct steps, starting with membership in the European Union (EU), followed by participation in the so-called Exchange Rate Mechanism (ERM) II and ultimately entry into the euro area. This paper addresses the question...
Persistent link: https://www.econbiz.de/10005344947