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Cross-Border Production Chains and Business Cycle Co-Movement between Central and Eastern European Countries and Euro Area Member States

Iossifov, Plamen K. - 2021

In this paper, we highlight the role of global value chains in the synchronization of economic activity between countries in Central and Eastern Europe (CEE) and the euro area. We start off by demonstrating that the degree of synchronization of the business cycles of CEE countries and their main...

Persistent link: https://www.econbiz.de/10013315647

The Political Economy Under Monetary Union : Has the Euro Made a Difference?

Fratzscher, Marcel; Stracca, Livio - 2021

Economic and Monetary Union (EMU) has transformed Europe and has created an integrated pan-European economy. Much research has focused on understanding this integration process and what benefits and costs it entails. This paper identifies a political economy channel of EMU as the monetary union...

Persistent link: https://www.econbiz.de/10013316460

Fiscal Convergence Before Entering the Emu

Onorante, Luca - 2006

The monetary integration of the acceding countries will proceed in several distinct steps, starting with membership in the European Union (EU), followed by participation in the so-called Exchange Rate Mechanism (ERM) II and ultimately entry into the euro area. This paper addresses the question...

Persistent link: https://www.econbiz.de/10012779801

GDP-Inflation Cyclical Similarities in the CEE Countries and the Euro Area

Macchiarelli, Corrado - 2013

In this paper we look at business cycles similarities between CEE countries and the euro area. Particularly, we uncover GDP-inflation cycles by adopting a trend-cycle decomposition model which allows the trend to be either stochastic or deterministic i.e. of the non-linear type. Once cyclical...

Persistent link: https://www.econbiz.de/10013081633

Can We Prevent Boom-Bust Cycles During Euro Area Accession?

Brzoza-Brzezina, Michal - 2010

Euro-area accession caused boom-bust cycles in several catching-up economies. Declining interest rates and easier financing conditions fuelled spending and worsened the current account balance. Over time inflation deteriorated external competitiveness and lowered domestic demand, turning the...

Persistent link: https://www.econbiz.de/10013135123

How is Real Convergence Driving Nominal Convergence in the New EU Member States?

Lein, Sarah M.; Leon-Ledesma, Miguel A.; Nerlich, Carolin - 2021

The purpose of this paper is to evaluate the empirical relevance of real convergence on the process of nominal … convergence for the new EU Member States. We discuss two of the main channels through which real convergence could affect relative … productivity growth a positive one on price level convergence with respect to the euro area …

Persistent link: https://www.econbiz.de/10013316776

Adjusting to the Euro

Fagan, Gabriel - 2007

In this paper we argue that, for a group of converging economies of the European Union, participation in the euro area has been associated with easier access to financing by domestic economic agents. Easier access to financing was a significant impulse leading to a sharp increase in households'...

Persistent link: https://www.econbiz.de/10012778006

Inflation Persistence : Euro Area and New EU Member States

Franta, Michal - 2009

with the usual estimation methods when analyzing the NMS, given the scope of the convergence process they went through. We …

Persistent link: https://www.econbiz.de/10012767014

The Maastricht Convergence Criteria and Optimal Monetary Policy for the EMU Accession Countries

Lipinska, Anna - 2021

The EMU accession countries are obliged to fulfill the Maastricht convergence criteria prior to entering the EMU. This … convergence criteria modify optimal monetary policy in an economy facing domestic and external shocks? First, we derive the micro …

Persistent link: https://www.econbiz.de/10013316539

Deeper, Wider and More Competitive? Monetary Integration, Eastern Enlargement and Competitiveness in the European Union

Ottaviano, Gianmarco I.P; Taglioni, Daria; di Mauro, Filippo - 2021

What determines a country's ability to compete in international markets? What fosters the global competitiveness of its firms? And in the European context, have key elements of the EU strategy such as EMU and enlargement helped or hindered domestic firms' competitiveness in local and global...

Persistent link: https://www.econbiz.de/10013316662