The accession of several Central and Eastern European Countries to Euroland is likely to be realised within the next years. Some studies aim at analysing the suitability of these Euro aspirants for currency union with EMU by evaluating the related macroeconomic costs. Still, they are prone to...

This paper uses a structural vector autoregression to examine differences in demand and supply shocks and the response to these shocks between EMU member countries and three other groups of countries. The first group includes non-EMU EU countries, the second group EFTA countries and the third...

Already before the final introduction of the single European currency there have been negotiations on a further enlargement of the Eurozone to the East. The accession of 10 Central and Eastern European Countries (CEEC) to Euroland is likely to be realised within the next 10 years and it is an...