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Effective European Monetary Union in the Light of the Optimum Currency Area; Model Countries : Germany and Poland Ergin Akalpler

Akalpler, Ergin - 2022

the Eurozone.Design/methodology/approach: In this study, Breusch–Pagan–Godfrey and Lagrange multiplier (LM) tests are used … research is used for estimating the effects of OCA in the Eurozone. Quantitative investigation is particularly focused on the … Eurozone and the application of a single currency throughout the EU was a considerably difficult task. In addition, the …

Persistent link: https://www.econbiz.de/10013307159

Act for Currency Unions

Stark-Veltel, Gerd - 2018

When real wages in an economy no longer reflect productivity, normally devaluations of the currency restore international price-competitiveness via imported inflation that reduces real wages. This instrument is not available in a currency union. The job has to be done by reductions in nominal...

Persistent link: https://www.econbiz.de/10012928858

The Eurozone : Piecemeal Approach to an Optimum Currency Area

Handler, Heinz - 2013

place. However, as actual developments in the Eurozone reveal, the political process of approaching an OCA is piecemeal …

Persistent link: https://www.econbiz.de/10013075363

The "uncovered inflation rate parity" condition in a monetary union

Acocella, Nicola; Pasimeni, Paolo - 2018

The uncovered interest rate parity condition lies at the heart of the "impossible trinity", stating that the three objectives of fixed exchange rates, free capital flows, and independent monetary policy cannot be pursued simultaneously. We argue that although monetary unification does indeed...

Persistent link: https://www.econbiz.de/10011926988

OCA theory and EMU eastern enlargement : an empirical application

Weimann, Marco - 2002

enlargement of the Eurozone to the East. The accession of 10 Central and Eastern European Countries (CEEC) to Euroland is likely …

Persistent link: https://www.econbiz.de/10010506205

The Euro-project at risk

Hankel, Wilhelm; Hauskrecht, Andreas; Stuart, Bryan - 2010

In contrast to Robert Mundell's Optimum Currency Area theory and his recommendation of forming a monetary union, the economic fundamentals of Euro area member countries have not harmonized. The opposite holds: the Euro core countries - most of all Germany, but also the Netherlands and Finland -...

Persistent link: https://www.econbiz.de/10008695492

The 'Uncovered Inflation Rate Parity' Condition in a Monetary Union

Acocella, Nicola - 2020

Persistent link: https://www.econbiz.de/10012851840

Economic and Monetary Integration of the New Member States : Helping to Chart the Route

Angeloni, Ignazio; Flad, Michael; Mongelli, Francesco Paolo - 2021

This paper examines diverse aspects of the monetary integration of the ten new Member States (NMS) which joined the EU on 1 May 2004 into the euro area. Most NMS have undergone a rapid and deep transformation in all areas with considerable progress in their processes of reform and convergence,...

Persistent link: https://www.econbiz.de/10013318308

EMU Enlargement, Stabilisation Costs and Insurance Mechanisms

Afonso, António; Furceri, Davide - 2008

This paper considers the determinants of the macroeconomic costs of joining EMU for the new EU Member Sates, and compares them with those of the EMU members. Specifically, we investigate the business-cycle correlation between the candidate's economy and that of the euro area as a whole, and the...

Persistent link: https://www.econbiz.de/10014049118

A New Optimum Currency Area Index for the Euro Area

Kunovac, Davor; Palenzuela, Diego Rodriguez; Sun, Yiqiao - 2022

We propose a new and time-varying optimum currency area (OCA) index for the euro area in assessing the evolution of the OCA properties of the monetary union from an international business cycle perspective. It is derived from the relative importance of symmetric vs. asymmetric shocks that result...

Persistent link: https://www.econbiz.de/10014076631