Brixiova, Zuzana; Morgan, Margaret; Wörgötter, Andreas - Economics Department, Organisation de Coopération et … - 2009
Estonia gave up the exchange rate and monetary policy tools of macroeconomic management when it introduced its currency … country’s policy agenda. However, shocks affecting Estonia are only weakly synchronized with those of the euro area, and the … structure of its economy also notably differs from the euro zone. To benefit fully from joining the EMU, Estonia must strengthen …