This paper investigates empirically the extent to which the ten new EU countries are ready to join the European Monetary Union (EMU). Using France and Germany as a benchmark, we assess the prospects of successful EMU participation based on common trends analysis of the nominal convergence...

In the present paper we assess the impact of the Eurozone’s economic policies on specific South-Eastern European countries, namely Bulgaria, Croatia, Cyprus, Greece, Romania, Slovenia and Turkey. Since these countries are connected to the EU or the Eurozone and economic interdependence among...

In this paper, we investigate the monetary transmission mechanism through interest rate and real effective exchange rate channels, for five South-Eastern European countries, namely Bulgaria, Croatia, Greece, Romania and Turkey. Recent unit root and cointegration techniques in the presence of...

The present paper examines the empirical adequacy of the expectations hypothesis of the term structure of interest rates in the context of the current debt crisis. Using a sample consisted of the five largest EU countries, namely France, Germany, Italy, Spain and the United Kingdom, and...