demand shift. An interesting case study is the EU enlargement, which led to modernization of many sectors in eastern … and persistent unemployment compared to Estonia during the period of EU enlargement. …

In order to assess the effect of EMU on market conditions for banks based in countries which adopt the Single Currency … lower, especially in France and Germany. EMU would therefore imply a notable rise in competition for small banks in France …

predecessor currencies, net of intra-euro area assets/ liabilities, before stage 3 of EMU. A number of key factors determining the …

The harmonisation of fiscal and economic policy within the European Monetary Union (EMU) has had a considerable impact …

We examine the bilateral composition of international bond portfolios for the euro area and the individual EMU member … countries. We find considerable support for “euro area bias”: EMU member countries disproportionately invest in one another … linkages in explaining asymmetries across EMU member countries in terms of their outward and inward bond investments vis …

Will EMU accelerate or retard structural reform in labour and product markets? The theoretical literature is ambiguous … structural reform. However, it is much less clear whether progress can be ascribed to EMU membership. To explore further the …

from 6 euro area countries, spanning several years before and after the introduction of the euro, we look at whether EMU … linked to the preparation of EMU; however, this interpretation is weakened by the fact that a similar decline occurred also …