The European Union currently faces a double dilemma - deepening versus widening. Broadening the Union toward the countries of eastern Europe poses unprecedented economic, political, social, security, and other problems. The Union can hope to deal with them only if a successful revision of the...

We propose using a simple Taylor rule to evaluate business cycle convergence of the Czech Republic, Hungary, and Poland with the Eurozone. Our findings indicate an ongoing convergence of those CEE countries to the Eurozone, but with instabilities and heterogeneity between the countries....

In the course of the EU enlargement process, the participation of accession countries in the European Monetary Union might lead to a significant redistribution of seigniorage wealth if current regulations prevail. In general, accession countries will be winners from this redistribution, for...