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The Euro Goes East Implications of the 2000-2002 Economic Slowdown for Synchronisation of Business Cycles between the Euro Area and CEECs

Fidrmuc, Jarko; Korhonen, Iikka - 2007

We assess the correlation of supply and demand shocks between current countries in the euro area and EU accession candidates from 1993/1995 to 2002. Supply and demand shocks are recovered from estimated structural VAR models of output growth and inflation. Notably, the economic slowdown between...

Persistent link: https://www.econbiz.de/10014224096

Quo vadis Eurozone? : a reappraisal of the real exchange rate criterion

Boeva, Galina V. - 2012

In 1976 Vaubel suggested using the variation of real exchange rates when evaluating the desirability of a monetary union within a group of currencies (Vaubel 1976). Currency unification is less desirable, the more often real exchange rate adjustments are needed. Ten years later, Mussa...

Persistent link: https://www.econbiz.de/10009671124

Real interest parity in the EU and the consequences for euro area membership : panel data evidence, 1979 - 2005

O'Brien, Martin (contributor) - 2007

This paper examines whether macroeconomic convergence is an automatic outcome of forming a currency union by combining an analysis of real interest parity (RIP) in the EU with the argument for the endogeneity of the Optimum Currency Area (OCA) criteria. Using the DF-GLS and the CIPS* panel unit...

Persistent link: https://www.econbiz.de/10003449239

EU Enlargement and the Euro? One Money for All the Europes?

Schweickert, Rainer - 2017

The paper takes into account both the concerns of the EU, arguing that convergence is incomplete, and the demands from accession countries, claiming that monetary integration is optimal. Indicators are developed which measure convergence and optimality in comparison with a reference group of the...

Persistent link: https://www.econbiz.de/10012942397

A Strategy for EMU Enlargement

Dabrowski, Marek - 2009

recommendations both for new member states (on how to manage their accession to the Eurozone) and for the European Commission, ECB and … current Eurozone members, and should further improve before Eurozone entry, decreasing risk of their exposure to idiosyncratic … credibility of the Euro and price stability in the Eurozone will not be threatened by fast EMU Enlargement. Neither can the …

Persistent link: https://www.econbiz.de/10014212729

The Exogeneity (at Best) of the Optimum Currency Area Criteria for the Euro Zone

Miles, William - 2011

A number of papers over the last decade have posited that Optimal Currency Areas are endogenous with respect to business cycle synchronization. The claim is that a common currency will greatly increase trade, and then trade will increase output synchronization. Countries that thus seem...

Persistent link: https://www.econbiz.de/10013117581

The Crisis of the Euro as a Eurocrisis : A Polyhedral View of the Problem

Tirado, Ignacio - 2013

For hundreds of years, European states have waged war with one another. Only since the XIX century, more than 40 wars (including 3 global wars) have devastated the continent and decimated its population. The European Union has provided the longest period of peace and prosperity that the citizens...

Persistent link: https://www.econbiz.de/10013072425

Booms and Busts in Emu

Gottfries, Nils - 2003

A floating exchange rate combined with a clear inflation target can be a powerful stabilizer even if there are fluctuations in exchange rates that are unrelated to current fundamentals. Under plausible conditions, most of the stabilisation will occur through the exchange rate, and fundamental...

Persistent link: https://www.econbiz.de/10014074070

Inflation and inflation differentials in core Eurozone countries

Popović, Svetlana; Janković, Irena; Lukić, Velimir - In: Ekonomske teme 60 (2022) 2, pp. 165-186

The paper analyzes the convergence of inflation rates in the group of more developed members of the Eurozone (core …

Persistent link: https://www.econbiz.de/10014281769

Is intra-industry trade specialization a precondition to business cycle synchronization when joining the Euro Area? : the Case of Poland

Kawecka-Wyrzykowska, Elżbieta - In: International journal of management and economics 53 (2017) 4, pp. 50-60

The first objective of this paper is to present theoretical approaches to the impact of trade growth (induced by monetary integration) on business cycle synchronization which is an important factor of a country's readiness for a currency union accession. The main conclusion from the first part...

Persistent link: https://www.econbiz.de/10012026961