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Adjustment in EMU : is convergence assured?
Dullien, Sebastian; Fritsche, Ulrich; Größl, Ingrid; … - 2009
Using a modified version of the model presented by Belke and Gros (2007), we analyze the stability of adjustment in a currency union. Using econometric estimates for parameter values we check the stability conditions for the 11 original EMU countries and Greece. We found significant instability...
Persistent link: https://www.econbiz.de/10010425867
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Adjustment in EMU: is convergence assured?
Dullien, Sebastian; Fritsche, Ulrich; Größl, Ingrid; … - 2009
Using a modified version of the model presented by Belke and Gros (2007), we analyze the stability of adjustment in a currency union. Using econometric estimates for parameter values we check the stability conditions for the 11 original EMU countries and Greece. We found significant instability...
Persistent link: https://www.econbiz.de/10003915319
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The Relevance of Inflation and Exchange Rate Risk for Monetary Convergence to the Eurozone
Orlowski, Lucjan T. - 2005
This study places a strong emphasis on the ability of Central European countries to lower inflation and exchange rate … risk premiums on their path of monetary convergence to the eurozone. A model of the nexus between both risk premiums is …, Hungary and the Czech Republic. The analysis implies that monetary policies based on direct inflation targeting are likely to …
Persistent link: https://www.econbiz.de/10014067010
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European Economic and Monetary Union : an initial assessment
Caesar, Rolf (ed.); Becker, Werner (contributor) - 2002 - 1. Aufl.
Persistent link: https://www.econbiz.de/10013432325
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Keynesian, non-Keynesian or no effects of fiscal policy changes? : the EMU case
Aarle, Bas van - 2001
This paper studies the experiences with fiscal adjustments in the EuropeanUnion (EU) countries during the transition period to the Economic andMonetary Union (EMU). Using several approaches suggested in the literatureon fiscal adjustments and their macroeconomic effects and in the literatureon...
Persistent link: https://www.econbiz.de/10011400376
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Az új EU-tagországok megfelelése az optimális valutaövezet kritériumainak
Darvas, Zsolt M. (contributor);  … - 2008
A cikkben a szerzõk azt vizsgálják, hogy az EU-hoz 2004 óta csatlakozott tizenkét új tagállam az euróövezethez való csatlakozás szempontjából milyen mértékben felel meg az optimális valutaövezet elmélete (Optimal Currency Area, OCA) által támasztott kritériumoknak. Fõ...
Persistent link: https://www.econbiz.de/10003790105
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From Inflation Targeting to the Euro-Peg. A Model of Monetary Convergence for Transition Economies
Orlowski, Lucjan T. - 2005
This study proposes a sequence of monetary convergence to the eurozone, based on autonomous monetary policy rather than … inflation targeting, followed by flexible inflation targeting, and ends with exchange rate targeting. A model outlining the … is followed by the empirical assessment of inflation targeting in the Czech Republic and Poland …
Persistent link: https://www.econbiz.de/10014066973
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Keynesian, Non-Keynesian or No Effects of Fiscal Policy Changes? The Emu Case
Van Aarle, Bas; Garretsen, Harry - 2021
This paper studies the experiences with fiscal adjustments in the European Union (EU) countries during the transition period to the Economic and Monetary Union (EMU). Using several approaches suggested in the literature on fiscal adjustments and their macroeconomic effects and in the literature...
Persistent link: https://www.econbiz.de/10013320781
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Estonia and Euro Adoption : Small Country Challenges of Joining EMU
Brixiova, Zuzana - 2009
Estonia gave up the exchange rate and monetary policy tools of macroeconomic management when it introduced its currency board in 1992. While the currency board arrangement served the country well during transition in the 1990s, it offers limited flexibility to implement policies that would ease...
Persistent link: https://www.econbiz.de/10012445626
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Assessing the optimality of euro adoption in Romania through shock correlations
Bodea, Adrian - In: European journal of government and economics : EJGE 10 (2021) 2, pp. 107-127
The present paper is concerned with the prospect of euro adoption in Romania. The study starts from the relevant literature of the Optimum Currency Areas and identifies the most widely acknowledged meta property and methodological model for this purpose: the SVAR Blanchard and Quah decomposition...
Persistent link: https://www.econbiz.de/10013174010