particular, on the Euro area and Japan). …

, it looks at sustainability in EMU member countries, with particular attention given to the relations between … a sustainability requirement for an 'average' EMU member country. At the same time, the dispersion around this average … is quite substantial: this questions the viability of uniform deficit caps across EMU member countries. …

warranted in the run- up to the adoption of the euro. We find that while interest rate shocks generally do not explain exchange …

euro area as a result of either different monetary policy preferences or different economic structures among the EMU … variability, the monetary policy performance of eleven EMU countries for the whole period of the EMS. Second, we examine whether … the introduction of an implicit inflation- targeting by the EMU member countries after the Maastricht Treaty changed the …

In this paper, we analyze coordination of macroeconomic stabilization policies within the EMU by focusing, in a dynamic …

This paper explores the conflict of real and monetary convergence during the EMU run-up of the Central and Eastern … and thereby less exchange rate volatility. Despite the merits of nominal appreciation, countries committed to hard euro …