. Using a simulation-based technique, we find that estimates of FDI effects of EMU range between 18.5% for Poland and 30% for … European Monetary Union (EMU) to the 10 countries that obtained EU membership in 2004. One-way and two-way error component …

This paper aims to assess both the explicit and implicit convergence criteria for Poland's possible membership in the … existing institutions and their evolution in Poland vis-à-vis the standards prevailing in the euro zone, as key determinants of … the country's readiness to become an EMU member. The theoretical background of the assessment involved comprises two chief …

the collapse of the Soviet Union, the three Baltic states and Poland have been rapidly catching-up with Western Europe …. The Great Recession became a great setback for the former, while less so for Poland. A difference is the monetary policy …

This paper uses reprojection to develop a benchmark to assess ECB monetary policy since January 1999, the start of EMU … German monetary policy is then reprojected onto the EMU period (1999:01-2001:08). We find that the German real interest rate … in place during the EMU period is significantly lower than it would have been in case the Bundesbank were still in charge …

Union. We investigate to which extent the EMU, that introduced a common monetary policy and restrictions on fiscal policy at … alternative policy regimes in a stylized dynamic model of the EMU: (i) non-cooperative monetary and fiscal policies, (ii) partial …

In this paper, we analyze coordination of macroeconomic stabilization policies within the EMU by focusing, in a dynamic …

Real exchange and interest rates may still fluctuate inside the EMU and give rise to changes in competitiveness. We … divergence should urge on a wave of restructuring in the EMU, conditioned upon adequate policy responses. The worst-case scenario … involves a flight to structural support and protectionism, challenging the whole idea of the EMU.    …