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recent major crises, of the legal framework governing the European Economic and Monetary Union (EMU), as well as current … of the EMU.The following Section II (“The Impact of the Three Major Crises During the Period 2007-2021”) develops on how … the (2007-2009) Global Financial Crisis (GFC), the subsequent fiscal crisis in the euro area and the most recent pandemic …
Persistent link: https://www.econbiz.de/10014077291
Austria, Finland and Sweden became members of the EU in 1995. This paper examines how support for the euro and trust in …. Support for the euro in the two euroarea members Austria and Finland has remained high and relatively stable since the … physical introduction of the new currency nearly 20 years ago, while the euro crisis significantly reduced support for the euro …
Persistent link: https://www.econbiz.de/10012269193
Which have been the consequences of the euro for integration and economic performance in the Baltic Sea region? After …: the Polish zloty depreciated in the critical moment of the crisis, while currency boards with the aim of joining the euro … Sea region suggests that the euro provides "the golden fetters" of our time. Emigration, also a kind of integration, has …
Persistent link: https://www.econbiz.de/10012433742
find that the Euro adoption will have a noticeable impact on the Polish economic fluctuations. In particular, the … Euro adoption, we compute the welfare effect of this monetary policy change. Our findings suggest that the welfare cost is …
Persistent link: https://www.econbiz.de/10013130739
Economic and Monetary Union (EMU) has transformed Europe and has created an integrated pan-European economy. Much … political economy channel of EMU as the monetary union implies that member states had to transfer or at least curtail their … policy autonomy in several areas, such as monetary policy and fiscal policy. The paper shows that EMU has helped reduce the …
Persistent link: https://www.econbiz.de/10011605002
This paper analyzes the effects of the implementation of a monetary union on the international transmission of monetary and fiscal policies. A dynamic three-country general equilibrium model, exhibiting monopolistic competition and sticky prices, is used to show how asymmetric monetary and...
Persistent link: https://www.econbiz.de/10010291919
European Monetary Union (EMU) to the 10 countries that obtained EU membership in 2004. One-way and two-way error component …. Using a simulation-based technique, we find that estimates of FDI effects of EMU range between 18.5% for Poland and 30% for …
Persistent link: https://www.econbiz.de/10010325507
moving the US dollar, yen and euro in the intended direction at horizons of up to three months after G7 meetings, but not at …
Persistent link: https://www.econbiz.de/10011604998
.e., whether sharing a single currency may set in motion forces bringing countries closer together. The start of EMU has spurred a … present diverse arguments and, where possible, explore the incipient empirical literature focussing on the euro area. Our …
Persistent link: https://www.econbiz.de/10011604514
From the inception of International Monetary System (I.M.S.) the system has been facing liquidity problem. Starting with the gold standard, the limited stock of gold could not cope with the increasing world trade. The introduction of the gold-exchange standard which included some key currencies...
Persistent link: https://www.econbiz.de/10012766923