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Endogeneities of optimum currency areas: what brings countries sharing a single currency closer together?
De Grauwe, Paul; Mongelli, Francesco Paolo - 2005
This paper brings together several strands of the literature on the endogenous effects of monetary integration: i.e., whether sharing a single currency may set in motion forces bringing countries closer together. The start of EMU has spurred a new interest in this debate. Four areas are...
Persistent link: https://www.econbiz.de/10011604514
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What effects is EMU having on the euro area and its member countries? An overview
Mongelli, Francesco Paolo; Vega, Juan Luis - 2006
This paper addresses the effects of the European Economic and Monetary Union (EMU) since the introduction of the euro -- on economic and financial structures, institutions and performance. What type of changes is the euro fostering? What forces is it setting in motion that were not there before?...
Persistent link: https://www.econbiz.de/10011604645
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Economic and monetary integration of the new Member States - helping to chart the route
Angeloni, Ignazio; Flad, Michael; Mongelli, Francesco Paolo - 2005
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/10011606188
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Southern African economic integration: evidence from an augmented gravity model
Warin, Thierry; Wunnava, Phanindra V.; Tengia, Optat; … - 2009
This paper investigates the feasibility of creating a common-currency union consisting of 16 countries in Southern Africa. We estimate an augmented-gravity model that includes public deficit, public debt, public expenditure, inflation, and the foreign reserves position. We also integrate...
Persistent link: https://www.econbiz.de/10010269429
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Measuring the Business Cycle Similarity and Convergence Trends in the CEECs Towards the Eurozone with Respect to some Unclear Methodological Aspects
Rozmahel, Petr - 2009
The adoption of the Euro by Slovakia from January 2009 and the current world economic crises revived a debate on the timing of the adoption of the Euro in the Czech Republic and other CEECs. The purpose of the paper is to contribute to a discussion on the process of joining the Eurozone by the...
Persistent link: https://www.econbiz.de/10011435274
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The Endogeneity of the Optimum Currency Area Criteria, Intraindustry Trade, and EMU Enlargement
Fidrmuc, Jarko - 2001
This paper tests the endogeneity hypothesis of OCA criteria (Frankel and Rose, 1998) in a cross-section of OECD countries between 1990 and 1999. It is shown that intraindustry trade actually causes the convergence of business cycles, while there is no direct relation between business cycles and...
Persistent link: https://www.econbiz.de/10010313398
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Die Theorie der optimalen Währungsräume und die politische Reformfähigkeit: Ein vernachlässigtes Kriterium
Heinemann, Friedrich - 1998
In diesem Beitrag wird neben einem kurzen Überblick über die Argumentationsweise und Probleme der Theorie optimaler … vor allem der Lohnflexibilität, aus. Aus dieser Erweiterung der Theorie der optimalen Währungsräume resultiert Skepsis …In this paper, a short survey is given on the contents and some problems of the theory of optimal currency areas. In …
Persistent link: https://www.econbiz.de/10010297572
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Theorie optimaler Währungsräume vor dem Hintergrund der EU-Erweiterung
Peters, Heiko - 2006
theory. According to optimum currency area theory one can divide the new member countries into two groups. For the first …
Persistent link: https://www.econbiz.de/10010298412
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Braucht es monetäre und reale Konvergenz für eine (in einer) Währungsunion? Anmerkungen zu einer aktuellen Debatte
Sell, Friedrich L. - 2001
von Ländern zur Teilnahme an der EWU. Es wird gezeigt, daß diese Kriterien weder die Theorie optimaler Währungsgebiete … the theory of optimum currency areas (OCA) nor can they avoid the so-called endogeneity problem. Opposed to that the level …
Persistent link: https://www.econbiz.de/10010300395
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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/10010321628