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The former EU president Jean-Claude Junker has proposed that all countries of the European Union should also adopt the euro as their currency and recent research has shown that countries currently pursuing this goal indeed fulfill the classical Optimal Currency Area (OCA) criterion of positively...
Persistent link: https://www.econbiz.de/10013232406
This paper analyses the monetary consequences of the Latin-American trade integration process. We consider a sample of five countries - Argentina, Brazil, Chile, Mexico and Uruguay - spanning the period 1991-2007. The main question raised pertains to the feasibility of a monetary union between...
Persistent link: https://www.econbiz.de/10014047657
accession process both in CEE and in the euro-zone. In order to provide topical advice, the first part, on markets, will …
Persistent link: https://www.econbiz.de/10003968901
Since the beginning of the transition process from centrally planed to market economies, East European countries have experienced relatively high inflation and a market depreciation of their currency. Their monetary systems have gone through dramatic changes in the recent ten years, making the...
Persistent link: https://www.econbiz.de/10011511064
accession process both in CEE and in the euro-zone. In order to provide topical advice, the first part, on markets, will …
Persistent link: https://www.econbiz.de/10002612636
Persistent link: https://www.econbiz.de/10001598027
Persistent link: https://www.econbiz.de/10001717246
Candidate countries of central and eastern Europe (CEECs) are suppose to join the EU in 2004, June, which imply that they will face important challenges in the conduct of macroeconomic policy, in order to be able to enter the ERM-II system and eventually enter the EMU (European Monetary Union)....
Persistent link: https://www.econbiz.de/10014073329
, but a country might give up important monetary policy tools that could help stabilize its economy following a shock. The … Eastern European countries that joined the Eurozone since 2005; their differences, particularly with regard to the countries … volatility of real output, consumption, and investment generally correspond to events other than Eurozone accession, and Vector …
Persistent link: https://www.econbiz.de/10012296177
According to the traditional 'optimum currency area' approach, not much will be lost from a very hard peg to a currency union if there has been little reason for variations in the exchange rate. This paper takes a different approach and highlights the fact that high exchange rate volatility may...
Persistent link: https://www.econbiz.de/10011509536