Since 1999, divergences in international competitiveness led to an accumulation of current account deficits in the south and surpluses in the north of the euro area. With the aid of macroeconometric models, this paper estimates the effects of an exit of Greece or of all GIIPS countries (Greece,...

This paper analyzes the design of macroeconomic policies for Slovenia on its way into the Euro Area. We simulate different policy scenarios, distinguishing in particular between different exchange rate regimes. For this purpose, we use the model SLOPOL4, a macroeconometric model for Slovenia. We...