This paper examines the implications for the Nordic countries (Denmark, Finland, Norway and Sweden) of participating in the final stage of the European Monetary Union. Economic linkages with Germany are estimated using a time series econometric approach under both the Bretton Woods and the...

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...