significant increase in synchronization of GDP and its major components within EMU. This lends support to the argument of OCA … diminished in the EMU members. …

structure of its economy also notably differs from the euro zone. To benefit fully from joining the EMU, Estonia must strengthen …

research focused particularly on the impact of the emerging EMU and on the application of the CAP, Structural Funds and the …

accession and during the period following EU accession but prior to EMU membership. We conclude that from an economic point of … view, EMU membership should be as early as possible, preferably at the same time as EU membership. The prevailing … interpretation of the exchange rate criterion for EMU membership is that it requires two years of successful membership in the …

In contrast to the notion that the exchange-rate regime is non-neutral, there is little evidence that EMU has … EMU on standard business cycles statistics. However, further analysis reveals that the Euro has changed the nature of the … shocks relatively less important in accounting for economic fluctuations under EMU. This explains why there is little change …

In contrast to the notion that the exchange-rate regime is non-neutral, there is little evidence that EMU has … EMU on standard business cycles statistics. However, further analysis reveals that the euro has changed the nature of the … shocks relatively less important in accounting for economic fluctuations under EMU. This explains why there is little change …

and adjustment commitments, and the possible role that EMU may play. Clearly, monetary commitment alone cannot accomplish … conditionality that might be welfare-improving for transition economies hoping to accede to EMU. The analysis also highlights the …

among members of Economic and Monetary Union (EMU). Empirical evidence on this relationship is rare so far and suffers from …