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In this paper we analyze the degree of policy convergence of EMS member countries relative to that of some non-EMS countries. Interestingly, we find convergence for the nominal and real exchange rates and money supplies of the EMS members but not for the non-EMS countries. We also provide some...
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This paper examines the monetary and exchange rate policies of the euro area and the trade policies of the European … Union. The paper highlights that the overall economic performance of the euro area has been disappointing: growth has been …
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This report describes the monetary and exchange rate policies of the euro area and the euro area stability programs … adjustment in the euro area as a whole and at the disaggregated level …
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The euro area continues to perform well, owing to its sustained employment creation, rising disposable income, buoyant … fundamentals had produced robust area-wide growth. They cautioned that high oil prices and a weak euro might undermine prevailing …
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