Showing 1 - 10 of 21
As a result of the macroeconomic convergence process in the light of the 1991 Maastricht Treaty, the monetary union between most of the EU countries started on January 1, 1999. Meanwhile, ten formerly eastern block countries and the Southern Section of Cyprus are preparing their economy for a...
Persistent link: https://www.econbiz.de/10005076843
The introduction of a common monetary policy in eleven European countries increased the need for leading indicators for that area. A reliable leading indicator should possess the following properties: (1) The movements in the indicator series should resemble those in the business cycle reference...
Persistent link: https://www.econbiz.de/10005076700
decipher the type of economic analysis and macroeconomic policies of the Economic and Monetary Union (EMU) theoretical and … the EMU macroeconomic policies lie in their potential to achieve full employment and low inflation in the euro area. We … conclude that the institutional and policy arrangements surrounding the EMU and the euro are neither adequate for dealing with …
Persistent link: https://www.econbiz.de/10005076715
changeover in 1999 to EMU and its implications for Austria's economic policy strategy are evaluated. With regard to the critique … that the ECB had no other choice given the credibility gap at the start of EMU and the economic circumstances of the time …
Persistent link: https://www.econbiz.de/10005076802
This paper considers the position of national central banks within the ESCB. The funda-mental framework underlying the ESCB is that of a system of central banks in which component institutions are individually and collectively responsible for carrying out vari-ous tasks. Within this framework,...
Persistent link: https://www.econbiz.de/10005076804
We apply Purchasing Power Parity (PPP) theory to the analysis of long- run equilibrium in the foreign exchange market. We study the case of Portugal vis-à-vis Germany and Spain, and the case of Spain vis-à-vis Germany, in the period 1960-1990. The empirical analysis was based on unit-root...
Persistent link: https://www.econbiz.de/10005124909
In this paper, we analyze coordination of macroeconomic stabilization policies within the EMU by focusing, in a dynamic …
Persistent link: https://www.econbiz.de/10005126333
We are interested on assessing the effectiveness of the Bank of Greece (BoG) exchange rate policy, to achieve the objective of adjusting balance of payments des-equilibrium, during the period 1983:1-1995:12. The traditional theory of the balance of payments adjustment process through exchange...
Persistent link: https://www.econbiz.de/10005408156
We apply Purchasing Power Parity (PPP) theory to the analysis of long- run equilibrium in the foreign exchange market. We study the case of Portugal vis-à-vis Germany and Spain, and the case of Spain vis-à-vis Germany, in the period 1960-1990. The empirical analysis was based on unit-root...
Persistent link: https://www.econbiz.de/10005408164
This paper explores the conflict of real and monetary convergence during the EMU run-up of the Central and Eastern …
Persistent link: https://www.econbiz.de/10005408181