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Membership of EMU: A Fuzzy Clustering Analysis of Alternative Criteria
Artis, M.J.; Zhang, W. - In: Journal of Economic Integration 17 (2002), pp. 54-79
for the sustainability of the current “Euro-zone”. …
Persistent link: https://www.econbiz.de/10010991750
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Is the Eurozone Rescue Strategy Tantamount to the Rearrangement of the Deckchairs on the Titanic?
Jovanović, Miroslav - In: Journal of Economic Integration 27 (2012), pp. 33-79
The eurozone is the crown jewel in the process of European integration. This monetary zone includes the most advanced integration grouping of countries in the European Union. The eurozone has been expanding the number of its participants, a sign of success in any economic or political union....
Persistent link: https://www.econbiz.de/10010991753
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Destructive Diversity, Inflationary Convergence and the Inflation Criterion : The Way to EMU Reconsidered
Berlemann, Michael - In: Journal of Economic Integration 21 (2006), pp. 681-707
least inflationary convergence was not a necessary precondition for EMU. This paper aims at analyzing the effects of the …; insofar it has contributed to a decrease in inflation bias during stage II of EMU but played no important role with respect to …
Persistent link: https://www.econbiz.de/10009392015
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CEEC Accession Countries and the EMU - An Assessment of Relative and Readiness for Euro-Area Membership
Kozluk, Tomasz - In: Journal of Economic Integration 20 (2005), pp. 439-474
Eastward enlargement of the Eurozone will result in transition economies sharing a currency with well-established market economies. We compare the suitability of the candidates relative to current members at a similar time before joining, as well as their readiness to comply with Maastricht...
Persistent link: https://www.econbiz.de/10009392023
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The Path of European Institutional and Economic Integration: What Lessons for Latin America?
Paolo Mongelli, Francesco; Dorrucci, Ettore - In: Journal of Economic Integration 20 (2005), pp. 217-251
What lessons can be drawn from the European experience with regional integration that started in the 1950s, for regional integration in Latin America, which is still in its early stages? We present here a new indicator of institutional integration and study how it developed vis-à-vis diverse...
Persistent link: https://www.econbiz.de/10009390587
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Endogenously Asymmetric Demand Shocks in a Monetary Union
Loisel, Olivier - In: Journal of Economic Integration 20 (2005), pp. 746-770
This paper presents a two-country two-industry monetary model, with intermediate inputs and transport costs, which builds a bridge between the New Open Economy Macroeconomics and the New Economic Geography literatures. Endogenously asymmetric shocks arise in this model when the exchange rate...
Persistent link: https://www.econbiz.de/10009392011
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Currency Integration under Labor Mobility: when Cost is incurred
Yoshimi, Taiyo - In: Journal of Economic Integration 29 (2014), pp. 188-209
We assess whether renouncing monetary policy autonomy becomes a cost of currency integration under labor mobility in the framework of the New Open Economy Macroeconomics. Assuming Nash equilibrium among central banks of candidate countries, we find that the forfeiture of monetary policy autonomy...
Persistent link: https://www.econbiz.de/10010840823
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Imperfect Competition with Separating Exchange Markets
Wang, Fuhmei - In: Journal of Economic Integration 17 (2002), pp. 474-501
Obstfeld and Rogoff (1995) endeavour to investigate the international welfare spillovers with monopolistic competition and sticky output prices, yet in a unified exchange rate system. This paper applies their framework to the regime of dual exchange markets, generating plenty of results of...
Persistent link: https://www.econbiz.de/10010840853
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Real Exchange Rate Volatility, Economic Growth and the Euro
Janus, Thorsten; Riera-Crichton, Daniel - In: Journal of Economic Integration 30 (2015), pp. 148-172
This paper studies the impact of real effective exchange rate volatility on economic growth as well as the euro … percentage points growth increase. Second, we find that the euro adoption was associated with a decline of 0.4 standard …, the real effective exchange rate of the euro adopters were almost completely insulated. We conclude that real effective …
Persistent link: https://www.econbiz.de/10011191491
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Convergence in the Core Euro Zone under the Global Financial Crisis
Lee, Kang-Soek; Mercurelli, Franceline - In: Journal of Economic Integration 29 (2014), pp. 20-63
A lack of economic convergence among euro member countries seems to be feeding euro-skepticism. Using a Structural … the three core euro members, i.e., France, Germany, and Italy. We provide evidence that the adoption of the euro has …, and the euro-skepticism is not corroborated. …
Persistent link: https://www.econbiz.de/10010840730