This paper considers the nature and the distribution of trade and FDI effects of a potential enlargement of the … European Monetary Union (EMU) to the ten countries that obtained EU membership in 2004. One-way and two-way error component …. Using a simulation-based technique, we find that estimates of FDI effects of EMU range between 18.5 percent for Poland and …

policy, where the main features characterising the policy-making are similar to those in EMU. National governments choose the …

analysis suggests that, given EMU's present political-economic set-up, i) the bail-out was unavoidable, ii) the lengthy process … with a future moral hazard problem. Based on our analysis, we suggest that the EMU's institutional design could be improved … processes as well as the conditions and parameters on which the scope and limits of fiscal redistribution in EMU depends. In …

(EMU) led to lower wage growth and lower unemployment in participating countries. Following Grüner's model, monetary …. Although we come up with some weak evidence for increased business cycle amplitudes within the EMU, we neither find a … significant general effect of the EMU on wage growth nor on unemployment. …

intensified, among others putting forward a fiscal stabilization capacity for EMU members. Contributions made so far to further …

the Maastricht treaty, the EMU convergence era, and the financial crisis. In detail, we find: (i) Since the 1980s the role … treaty, and again with the wake-up call due to the onset of the financial crisis. (ii) Before the financial crisis EMU member …

may have important consequences, as existing differences in business cycles in the EMU-countries may not disappear due to …

This paper examines how the pass-through of monetary policy measures in 6 EMU countries has evolved over time and …