volatility. The consequences of asymmetric shocks inside EMU are worse than envisaged in early analyses of the EMU project such …

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 …

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 …

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 …

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 …

An often heard view is that exchange rate variability will decrease for a country that joins the EMU. This is not …

able to replicate key features of the data prior to and under EMU.We ?nd that the euro has a strong bearing on the …In this paper we analyze European business cycles before and under EMU. Across the two periods we ?nd 1) a signi … transmission mechanism as cross-country spillovers increase substantially under EMU. As a result, foreign shocks become more and …