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Turmoil in euro area once more forces EU authorities to rethink future of further monetary integration. One of the most commonly used criterions for successful monetary in contemporary research is business cycle synchronization (BCS). Though BCS has been vastly described at country level, not as...
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Mitgliedern der Währungsunion ist. Bei der Aufnahme weiterer Mitglieder in die EURO-Zone sind sowohl realwirtschaftliche als auch … zone we suggest to make use of additional criteria which stress real convergence as they can be found in article 121 of the … European treaty. Moreover, as long as the distance to the core of the EMU countries is still large, real convergence criteria …
Persistent link: https://www.econbiz.de/10010508238
Mitgliedern der Währungsunion ist. Bei der Aufnahme weiterer Mitglieder in die EURO-Zone sind sowohl realwirtschaftliche als auch … zone we suggest to make use of additional criteria which stress real convergence as they can be found in article 121 of the … European treaty. Moreover, as long as the distance to the core of the EMU countries is still large, real convergence criteria …
Persistent link: https://www.econbiz.de/10001596617
The paper addresses the question what effects the enlargement of a monetary union will have on necessary structural refoms in the (low distortion) member countries and the (high distortion) candidate country. While monetary union lowers reforms in the candidate country, members of the monetary...
Persistent link: https://www.econbiz.de/10009781545
die Euro-Zone. Obwohl die Methoden einige wichtige gemeinsame Eigenschaften aufweisen, zeigen sie auch erhebliche …The paper discusses some widely used methods for estimating output gaps based on aggregated data for the eurozone … methods commonly used have only limited information content for inflation forecasting in the euro-zone. Conclusions for …
Persistent link: https://www.econbiz.de/10011473858
It is well-known that the high synchronization of the business cycles among industrial countries cannot easily be replicated in standard open economy macroeconomic models without assuming that the exogenous shocks hitting these countries are highly correlated. We develop a two-country behavioral...
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