The successful accession to membership in the European Union (EU) by the current transition-economy applicants, the Czech Republic, Hungary, the Slovak Republic, Slovenia and Poland, will depend to a large extent on their ability to align themselves with the institutions and the macroeconomic...

We compare the convergence with German monetary policy of the Balkan and Mediterranean country candidates for EU membership with that of countries that have recently joined the EU. Significant linkages exist between German base money stock and that of recent members of the EU; the same holds...