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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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The EU has long viewed economic and institutional convergence as important goals, but the results thus far have been … necessary? What steps can be taken to improve convergence in the EU, and how can success be defined? Finally, how much …
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Recent public debate on the costs and benefits of EU membership has focused more on the costs and less on the benefits … optimal state. Membership of the EU is beneficial for countries with weak enforcement institutions, but it may worsen the … welfare of countries with strong regulatory institutions. Infringement statistics indicate that no member state of the EU has …
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