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firms? And in the European context, have key elements of the EU strategy such as EMU and enlargement helped or hindered … located in participating economies. Enlargement has, instead, two contrasting effects. It improves the accessibility of EU …
Persistent link: https://www.econbiz.de/10003635984
The EMU accession countries are obliged to fulfill the Maastrich convergence criteria prior to entering the EMU. This paper uses a DSGE model of a two-sector small open economy, to address the following question: How do the Maastricht convergence criteria modify optimal monetary policy in an...
Persistent link: https://www.econbiz.de/10003778818
Economic and Monetary Union (EMU) has transformed Europe and has created an integrated pan-European economy. Much research has focused on understanding this integration process and what benefits and costs it entails. This paper identifies a political economy channel of EMU as the monetary union...
Persistent link: https://www.econbiz.de/10003794175
This paper compares impulse responses to monetary policy shocks in the euro area countries before the EMU and in the New Member States (NMS) from central-eastern Europe. We mitigate the small sample problem, which is especially acute for the NMS, by using a Bayesian estimation that combines...
Persistent link: https://www.econbiz.de/10003825885
convergence for the new EU Member States. We discuss two of the main channels through which real convergence could affect relative …
Persistent link: https://www.econbiz.de/10003599436
Is inflation persistence in the new EU Member States (NMS) comparable to that in the euro area countries? We argue that …
Persistent link: https://www.econbiz.de/10003554812
industries) in 25 EU countries over the period from 1995 to 2005. By applying a cross-country and industry-specific approach, it …
Persistent link: https://www.econbiz.de/10008659411
Persistent link: https://www.econbiz.de/10009766411
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