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Economic and monetary integration of the new Member States - helping to chart the route
Angeloni, Ignazio; Flad, Michael; Mongelli, Francesco Paolo - 2005
on 1 May 2004 into the euro area. Most NMS have undergone a rapid and deep transformation in all areas with considerable … the euro area in the process of labour market and institutional reform (their labour market structures are more flexible … than those of the euro area countries). There is also some evidence that a few NMS have a significant degree of business …
Persistent link: https://www.econbiz.de/10011606188
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Endogeneities of optimum currency areas: what brings countries sharing a single currency closer together?
De Grauwe, Paul; Mongelli, Francesco Paolo - 2005
present diverse arguments and, where possible, explore the incipient empirical literature focussing on the euro area. Our …
Persistent link: https://www.econbiz.de/10011604514
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What effects is EMU having on the euro area and its member countries? An overview
Mongelli, Francesco Paolo; Vega, Juan Luis - 2006
This paper addresses the effects of the European Economic and Monetary Union (EMU) since the introduction of the euro … -- on economic and financial structures, institutions and performance. What type of changes is the euro fostering? What … forces is it setting in motion that were not there before? Six years after the launch of the euro, was an appropriate time to …
Persistent link: https://www.econbiz.de/10011604645
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Endogeneities of Optimum Currency Areas : What Brings Countries Sharing a Single Currency Closer Together?
De Grauwe, Paul; Mongelli, Francesco Paolo - 2021
present diverse arguments and, where possible, explore the incipient empirical literature focussing on the euro area. Our …
Persistent link: https://www.econbiz.de/10013318634
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The endogeneity approach of the theory of optimum currency areas : what does it mean for ASEAN + 3?
Löchel, Horst; Baumann, Stefan - 2006
The paper analyzes if and how the experiences of European integration can be used for the progress of East Asia integration especially of the ASEAN+3 countries1. Of special interest is the relevance of the new endogeneity approach of monetary integration for East Asia. The question is discussed...
Persistent link: https://www.econbiz.de/10003750291
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The Eurozone : Piecemeal Approach to an Optimum Currency Area
Handler, Heinz - 2013
This paper discusses the literature which associates the economic characteristics of EMU with arguments of the optimum currency area (OCA) theory and asks for missing capstones that would meliorate EMU to eventually resemble an OCA. As potential candidates for such building blocks, some sort of...
Persistent link: https://www.econbiz.de/10013075363
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A Centralized Monetary Union for Mercosur : Lessons from Emu
Fratianni, Michele U.; Hauskrecht, Andreas - 2014
The paper starts with the assumption that the Mercosur countries have decided to pursue monetary integration. These countries have essentially two options: a decentralized monetary union (MU) whereby each member country either pegs to the U.S. dollar or dollarizes outright; or a centralized MU...
Persistent link: https://www.econbiz.de/10014026460
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Completing the monetary union of Europe as mid-term solution of the Euro crisis
Fischer, Justina A. V.; Pastore, Francesco - 2015
This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the … growth in Greece and discusses the role of conditionality. Finally, the important role of mid-left parties is highlighted. …
Persistent link: https://www.econbiz.de/10011308548
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Act for Currency Unions
Stark-Veltel, Gerd - 2018
When real wages in an economy no longer reflect productivity, normally devaluations of the currency restore international price-competitiveness via imported inflation that reduces real wages. This instrument is not available in a currency union. The job has to be done by reductions in nominal...
Persistent link: https://www.econbiz.de/10012928858
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Ecowas common currency : how prepared are its members?
Mati, Sagiru; Civcir, İrfan; Ozdeser, Hüseyin - In: Investigación económica : revista de la Faculdad de … 78 (2019) 308, pp. 89-119
This study operationalizes the Optimum Currency Area (OCA) to investigate the preparedness of Economic Community of West African States (ECOWAS) members to form a Monetary Union (MU). Inflation and output models are estimated, with the sample 1988:01 to 2017:12 for the former and 1967 to 2016...
Persistent link: https://www.econbiz.de/10012016723