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The EMU accession countries are obliged to fulfill the Maastrich convergence criteria prior to entering the EMU. This paper uses a DSGE model of a two-sector small open economy, to address the following question: How do the Maastricht convergence criteria modify optimal monetary policy in an...
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industries) in 25 EU countries over the period from 1995 to 2005. By applying a cross-country and industry-specific approach, it …
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European Union (EU) in the 1973, 1980s, 1995 and 2004 enlargements, if those countries had not joined the EU. We find large … positive effects from EU membership but these differ across countries and over time (they are only negative for Greece). We …
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Eastern European and Former Soviet Union countries diverged massively. Institutions are a main reason. The EU anchor thesis … posits that the prospect of membership in the European Union (EU) played a key role in filling in the institutional vacuum …, focusing on whether the prospect of EU membership accelerated institutional development and, if so, whether this was indeed …
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