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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

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

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

Northern Light : Does Optimal Currency Area Criteria Explain Nordic Reluctance to Join Emu?

Hutchison, Michael M.; Bergman, U. Michael - 2002

Finland was the only Nordic country to join the European Monetary Union (EMU) when it began on January 1, 1999. In the autumn of 1994, the voters of Sweden and Finland decided to join the European Union (EU), while those in Norway decided to remain outside. In Denmark, the voters had earlier...

Persistent link: https://www.econbiz.de/10014123755

Prospects for a monetary union in the East Africa community : some empirical evidence

Caporale, Guglielmo Maria; Carcel, Hector; Gil-Alaña, … - 2018

This paper examines G-PPP and business cycle synchronization in the East Africa Community with the aim of assessing the prospects for a monetary union. The univariate fractional integration analysis shows that the individual series exhibit unit roots and are highly persistent. The fractional...

Persistent link: https://www.econbiz.de/10011859481

Doomsday for the euro area : causes, variants and consequences of breakup

Belke, Ansgar; Verheyen, Florian - 2013

In this paper we describe the genesis of a doomsday scenario and discuss potential causes and motivations for a breakup of the euro area. For this purpose, we differentiate between the departure of weak and strong countries, and examine the impact of the reintroduction of a national currency on...

Persistent link: https://www.econbiz.de/10010255127