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The process of EU integration has intensified in the 1980s and early 1990s. The desire of a number of central and … eastern European countries to join the EU is often seen as a threat to the continuation of this process. How wide should the … radius of EU enlargement be? Which forms of integration would be appropriate between the EU and different subsets of ex …
Persistent link: https://www.econbiz.de/10011549215
Persistent link: https://www.econbiz.de/10001202514
This study identifies differences in the monetary policy transmission mechanism across the countries in the euro area. It is argued that part of the differences in the response of economic activity to monetary policy during the pre-EMU period, found in other studies, reflected differences in...
Persistent link: https://www.econbiz.de/10014400313
The paper reviews the stability of long-run money demand in the euro area in the light of recent revisions to M3 data. The analysis confirms the existence of a stable long-run money demand, although the estimated equation implies a smaller equilibrium M3 growth than the European Central Bank''s...
Persistent link: https://www.econbiz.de/10014399639
In the context of the U.K. government’s EMU entry condition of cyclical convergence, this paper (i) provides further evidence suggesting that historically the U.K.’s business cycle has been more volatile than, and relatively independent of, the cycles in the euro-area countries; and (ii)...
Persistent link: https://www.econbiz.de/10014401449