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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...
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Inflation differentials in the Euro area are mainly due to a sustained divergence of wage developments across the Euro … inflation using unit labour cost (ULC) growth and applying PANIC (Bai and Ng, 2004) and cluster procedures (Hobijn and Franses …, 2000, Busetti et al., 2006) to Euro area countries as well as US States, US Census Regions and German Länder. Euro area …
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This paper compares relative unit labour cost developments in the countries of the euro-area since the beginning of the … United States of America and Germany. To this end, unit labour cost indices for the US states and census regions from 1977 to …
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This paper explores the evolution and determinants of public support for the euro since its creation in 1999 until the … end of 2017, thereby covering the pre-crisis experience of the euro, the crisis years and the recent recovery. Using … literature on public support for the euro. First, we find a majority of citizens support the euro in nearly all 19 euro area …
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