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The paper critically considers the endogenous Optimum Currency Areas (or e-OCAs) theory, focussing initially on early studies having identified a relevant link between the creation of a monetary union and an upgrading of trade intensity between member countries, on the one hand, and the increase...
Persistent link: https://www.econbiz.de/10010991484
French taxpayer. In the aftermath of the devaluation of the Franc CFA in 1994, and of the peg of the currency to the Euro in …, as the CFA - Zone never fulfilled the most crucial preconditions of an optimal currency area. The peg to the EMU …
Persistent link: https://www.econbiz.de/10012746668
This paper examines the demand and supply shocks observed in the present Eurozone member states and those observed in some neighboring countries. The analysis is based on recent data and each Eurozone member country is compared with an aggregate series corresponding to an area made up of the...
Persistent link: https://www.econbiz.de/10013317269
years. Some studies aim at analysing the suitability of these Euro aspirants for currency union with EMU by evaluating the … present EMU and use a structural VAR approach to evaluate EMU suitability of the candidate countries. To correct for the …
Persistent link: https://www.econbiz.de/10010503148
worse suitable for EMU membership than the current participants. The theory of optimum currency areas provides several … the current EMU we use a structural VAR approach in order to identify economic shocks that hit the countries to be …
Persistent link: https://www.econbiz.de/10010506205
recent major crises, of the legal framework governing the European Economic and Monetary Union (EMU), as well as current … of the EMU.The following Section II (“The Impact of the Three Major Crises During the Period 2007-2021”) develops on how … the (2007-2009) Global Financial Crisis (GFC), the subsequent fiscal crisis in the euro area and the most recent pandemic …
Persistent link: https://www.econbiz.de/10014077291
The euro is the second most important global currency after the US dollar. However, its international role has not … increased since its inception in 1999. The private sector prefers using the US dollar rather than the euro because the financial … the attractiveness of the euro outside the euro area requires, among others, a proactive role for the European Central …
Persistent link: https://www.econbiz.de/10012265943
Austria, Finland and Sweden became members of the EU in 1995. This paper examines how support for the euro and trust in …. Support for the euro in the two euroarea members Austria and Finland has remained high and relatively stable since the … physical introduction of the new currency nearly 20 years ago, while the euro crisis significantly reduced support for the euro …
Persistent link: https://www.econbiz.de/10012269193
. It finds that political mishandling has increased uncertainty, which has contributed to a tendency for the euro to become …
Persistent link: https://www.econbiz.de/10010397341
This paper deals with the question of what impact membership of the European Monetary Union (EMU) has had on small … European states. We will also analyze whether or to what extent a large number of small member states affect the EMU itself … the EMU, production structure, foreign trade policy, and stability readiness. However, they do share some characteristics …
Persistent link: https://www.econbiz.de/10010311678