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The main aim of this paper is to examine the exchange rate behavior of a group of four transitional, EU accession countries, with a view to making policy recommendations regarding their accession to full European Monetary Union. We employ a dynamic OLS panel estimator to investigate the relative...
Persistent link: https://www.econbiz.de/10011506491
This paper analyses the smoothing of asymmetric shocks to output for a sample of OECD countries. It also examines whether the private capital markets will be able to replace the government in providing output smoothing in the euro-area, in the near future. The research finds no evidence of large...
Persistent link: https://www.econbiz.de/10011509508
& Monetary Union (EMU). The model includes both nominal and real frictions that have proven to be important in matching business … the EMU and investigates in how far this has altered macroeconomic transmission. We find that Austria's economy appears to … estimations on pre-EMU and EMU subsamples we find that the contribution of (rest of the) Euro Area shocks to Austria's business …
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may have important consequences, as existing differences in business cycles in the EMU-countries may not disappear due to …
Persistent link: https://www.econbiz.de/10009781543
of the euro area. With a 1980-2001 sample, no consistent significant trade effects from the 1999 creation of EMU are … found, using dummies for the 1999-2001 period. Treating EMU not as a single event but as a part of a long-term integration …
Persistent link: https://www.econbiz.de/10011472291
This paper examines how the pass-through of monetary policy measures in 6 EMU countries has evolved over time and …
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